October 2022 – Audit — 10-6-22-OCIDA-Audit-Mtg-Minutes-Final.pdf ================================================================ Onondaga County Industrial Development Agency Audit Committee Meeting Minutes October 6, 2022 An Audit Committee meeting of the Onondaga County Industrial Development Agency was held on Thursday, October 6, 2022, at the 333 West Washington Street, Syracuse, New York in the large conference room on the first floor. Chairperson Janice Herzog called the meeting to order at 7:59 am with the following: PRESENT: Janice Herzog Susan Stanezyk Patrick Hogan ALSO PRESENT: Robert M. Petrovich, Executive Director Nate Stevens, Treasurer Nancy Lowery, Secretary Karen Doster, Recording Secretary Alexis Rodriguez, Assistant Treasurer Jeff Davis, Barclay Damon Law Firm Brian Gerling, Barclay Damon Law Firm Matthew Pelligra, Office of Economic Development Parminder Banga, Cryomech, Inc. Rich Dausman, Cryomech, Inc. Suhail Partawi, Hinsdale Road Bruce Armistead, Hinsdale Road Anthony D’Elia, Hinsdale Road Chad Hill, Hinsdale Road APPROVAL OF AUDIT MEETING MINUTES — MARCH 8, 2022 Upon a motion by Patrick Hogan, seconded by Susan Stanezyk, the OCIDA Audit Committee approved the minutes of the March 8, 2022 meeting. Motion was carried. Onondaga County Industrial Development Agency Audit Committee Meeting Minutes October 6, 2022 An Audit Committee meeting of the Onondaga County Industrial Development Agency was held on Thursday, October 6, 2022, at the 333 West Washington Street, Syracuse, New York in the large conference room on the first floor. Chairperson Janice Herzog called the meeting to order at 7:59 am with the following: PRESENT: Janice Herzog Susan Stanezyk Patrick Hogan ALSO PRESENT: Robert M. Petrovich, Executive Director Nate Stevens, Treasurer Nancy Lowery, Secretary Karen Doster, Recording Secretary Alexis Rodriguez, Assistant Treasurer Jeff Davis, Barclay Damon Law Firm Brian Gerling, Barclay Damon Law Firm Matthew Pelligra, Office of Economic Development Parminder Banga, Cryomech, Inc. Rich Dausman, Cryomech, Inc. Suhail Partawi, Hinsdale Road Bruce Armistead, Hinsdale Road Anthony D’Elia, Hinsdale Road Chad Hill, Hinsdale Road APPROVAL OF AUDIT MEETING MINUTES — MARCH 8, 2022 Upon a motion by Patrick Hogan, seconded by Susan Stanezyk, the OCIDA Audit Committee approved the minutes of the March 8, 2022 meeting. Motion was carried. SELF-EVALUATION OF THE COMMITTEE Upon a motion by Patrick Hogan, seconded by Susan Stanezyk, the OCIDA Audit Committee approved a resolution to transmit the summary self-evaluation without comment to the Governance Committee for review and recommendation to the Board. Motion was carried. SELF-EVALUATION OF THE COMMITTEE Upon a motion by Patrick Hogan, seconded by Susan Stanezyk, the OCIDA Audit Committee approved a resolution to transmit the summary self-evaluation without comment to the Governance Committee for review and recommendation to the Board. Motion was carried. REVIEW OF COMMITTEE CHARTER Nancy Lowery stated there are no changes to the Committee Charter. Upon a motion by Patrick Hogan, seconded by Susan Stanczyk, the OCIDA Audit Committee approved a resolution to transmit the Committee Charter without comment to the Governance Committee for review and recommendation to the Board. Motion was carried. REVIEW OF COMMITTEE CHARTER Nancy Lowery stated there are no changes to the Committee Charter. Upon a motion by Patrick Hogan, seconded by Susan Stanczyk, the OCIDA Audit Committee approved a resolution to transmit the Committee Charter without comment to the Governance Committee for review and recommendation to the Board. Motion was carried. DRAFT ANNUAL REPORT (2022 FISCAL YEAR) Nancy Lowery gave a short review of the Annual Report. Upon a motion by Patrick Hogan, seconded by Susan Stanczyk, the OCIDA Audit Committee approved a resolution to transmit the 2022 Committee Annual Report to the Governance Committee for review and recommendation to the Board. Motion was carried. DRAFT ANNUAL REPORT (2022 FISCAL YEAR) Nancy Lowery gave a short review of the Annual Report. Upon a motion by Patrick Hogan, seconded by Susan Stanczyk, the OCIDA Audit Committee approved a resolution to transmit the 2022 Committee Annual Report to the Governance Committee for review and recommendation to the Board. Motion was carried. PRELIMINARY AUDIT REVIEW Mike Lisson stated the presentation was sent in advance. He stated from the audit standpoint there are not a lot of major changes coming down the pipeline. He stated there are a few new accounting standards but really are not going to apply to the Agency until the year 2023 or 2024. He stated it is going to be a quiet year and a routine audit. He stated they will review the normal risk assessment and controls and processes. He stated they will work closely with Alexis Rodriguez and the Economic Development team who have always been great to work with. He stated he expects it to be a smooth sailing audit. Patrick Hogan asked if Grossman St. Amour has the ability to expand the audit scope. Mike Lisson stated yes and anything that comes up keep him posted. He stated they are willing to help with anything the Agency needs. PRELIMINARY AUDIT REVIEW Mike Lisson stated the presentation was sent in advance. He stated from the audit standpoint there are not a lot of major changes coming down the pipeline. He stated there are a few new accounting standards but really are not going to apply to the Agency until the year 2023 or 2024. He stated it is going to be a quiet year and a routine audit. He stated they will review the normal risk assessment and controls and processes. He stated they will work closely with Alexis Rodriguez and the Economic Development team who have always been great to work with. He stated he expects it to be a smooth sailing audit. Patrick Hogan asked if Grossman St. Amour has the ability to expand the audit scope. Mike Lisson stated yes and anything that comes up keep him posted. He stated they are willing to help with anything the Agency needs. ADJOURN Upon a motion by Patrick Hogan, seconded by Susan Stanczyk, the OCIDA Audit Committee adjourned the meeting at 8:04 am. Motion was carried. Tithe Kourre , Nancy Lowery, Secretaé} ADJOURN Upon a motion by Patrick Hogan, seconded by Susan Stanczyk, the OCIDA Audit Committee adjourned the meeting at 8:04 am. Motion was carried. Tithe Kourre , Nancy Lowery, Secretaé}