Page 19 - April Report2022

Resilience
Audit Committee meeting minutes (2)
4. Conversion to QuickBooks Reports
Dick explained that Bobby, Buzz and he have been working with Kiwi Consultants since last November in converting 2 sets of books (Excel spreadsheets and QuickBooks) to one set of books (QuickBooks) which will automatically produce each month a P&L and a Balance Sheet. Bobby spearheaded the decision to move to an automated system which should make the accounting job easier and more reliable. That proposed project is being presented to the Audit Committee and Board for approval in our March meetings. Beginning in April we propose to convert to QuickBooks reporting in basically the attached format but with further breaking out of Professional Fees and adding current updated footnotes. There will be a condensed balance sheet directly from QuickBooks and a formatted Revenue and Expenses Statement from QuickBooks. The Committee passed a motion that they recommend to the Board approval of these two reports. Beginning in January, 2022, Prime Buchholz has been supplying the report which breaks out where our investment valuations are in detail similar to what Dick had been reporting from his Excel spreadsheet.
5. Review of Templeton for 2022 Audit & Tax Returns
Dick reommended that we engage Templeton for 2022 Audit and Tax Returns. We are completely satisfied with their work and their fees. Sherry noted that another non-profit she works with that is paying more and does not have state tax returns like us. Buzz stated he was very satisfied. He said Templeton is very responsive, a quality firm and works well with Prime Buchholz. Following discussion it was unanimously agreed.
6. Schedule of Upcoming Meetings
Reports will be in Diligent Board June 15, 2022 in lieu of a meeting. Our September meeting will be held during our semiannual Board meetings in California on September 13, 2022. Our November 1, 2022 meeting will again be held to approve Templeton’s 2021 Audit and 2021 Tax Returns.
The meeting concluded at 3:00 p.m. Respectfully submitted this 4th day of April, 2022.
Richard A. Krause Hugh Brown
Chief Financial Officer Committee Chairman
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