Meeting Minutes of the Audit Committee
Onondaga County Water Authority
March 27, 2013

A meeting of the Audit Committee of the Board of the Onondaga County Water Authority was convened on March 27, 2013 at 1:00 pm at the office of the Authority located at 200 Northern Concourse, Town of Salina, New York. Ferdinand L. Picardi, Chairperson of the Audit Committee, presided. Present were the following Committee Members:

Ferdinand L. Picardi, Chairperson
John V. Bianchini
Eileen Gilligan
Susan Miller
Jeff Brown

Also in attendance were the following staff persons:

Michael E. Hooker, Executive Director
Anthony J. Geiss, Jr., Deputy Executive Director
Terry R. Pickard, Legal Counsel
Laurie Khanzadian, HR Manager
Geoffrey G. Miller, Executive Engineer
Curtis R. Marvin, Finance Department
Janice Hartwell, Finance Department

Laurie Khanzadian served as Secretary for the Committee.

Mr. Marvin introduced Jack Burke, CPA and Lori Ciarla, CPA, of the Accounting Firm of Dermody, Burke & Brown, to review the Audit of the Financial Statements of the Authority for the period ending December 31, 2012. The Auditors submitted the following documents to the Committee:

• Financial Statements for year end 12/31/2012
• Dermody, Burke & Brown Audit Letter

Ms. Ciarla indicated that the 2012 audit revealed the following:

1. Unqualified opinion (highest possible)
2. No instances of non-compliance with internal controls required to be reported
3. Compliance with Investment Guidelines
4. No Letter of Observation necessary or provided

Thereupon, by motion by J. Bianchini, seconded by S. Miller, the Committee accepted the Audit Reports and referred then to the full Board for consideration.

There being no further business to come before the Audit Committee, the meeting adjourned at 1:50 pm.

Respectfully submitted,

Date: March 27, 2013                                                        Laurie J. Khanzadian, Secretary