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HomeMy WebLinkAbout01/27/2009WHEAT RIDGE HOUSING AUTHORITY AGENDA January 27, 2009 CITY COUNCIL CHAMBERS 4:00 P.M. Individuals with disabilities are encouraged to participate in all public meetings sponsored by the City of Wheat Ridge. Call Heather Geyer, Public Information Officer at 303-235-2826 at least one week in advance of a meeting ifyou are interested in participating and need inclusion assistance. A. Call Meeting to Order B. Roll Call C. Approval of the Minutes: D. Officers Reports E. Public Forum November 25 & December 9, 2008 F. New Business 1. Rehab Partner Discussion & Selection 2. Authorization to hire Swanhorst & Company to perform Audit 3. Resolution 01-2009, Establishing a designated public place for the posting of meeting notices as required by the Colorado Open Meetings Law 4. Election of Officers G. Executive Session for the purpose of receiving legal advice to consider the purchase, acquisition, lease, transfer or sale of real, personal or other property pursuant to C.R.S. Section 24-6-402(4)(a). H. Unfinished Business 1. Consider Counter Offer for Purchase of Property I. Other J. Adjournment WHEAT RIDGE HOUSING AUTHORITY MINUTES November 25, 2008 1. 2. CALL MEETING TO ORDER The meeting was called to order by Chair Brungardt Council Chambers of the Wheat Ridge Municipal R Wheat Ridge, Colorado. ROLL CALL Authority members present: Authority members absent: Others Present: Kent-1 Kathy Lenal p:m. in the City 7500 W. 29t' Avenue, uty Director Economic Development Specialist atthews, Accountant y Nelson, Cornerstone Realty Betty Maybin, Cornerstone Realty Jason Stutzman, Brothers Redevelopment Jeff Martinez, Brothers Redevelopment Mary Ann Shing, Brothers Redevelopment Ann Lazzeri, Recording Secretary 3. OF AGENDA It was move(f%y Lena ola and seconded by Kent Davis to amend the agenda to hold an executive session following consideration of new business. The motion passed unanimously. 4. APPROVAL OF MINUTES: October 14, 2008 It was moved by Kent Davis and seconded by Kathy Nuanes to approve the minutes of October 14, 2008 as presented. The motion passed unanimously Housing Authority Minutes - 1 - November 25, 2008 5. 6. Presentation by Brothers Redevelopment accessibility; working to provide affoi governments to improve and stabilize management for low income and subs time home owners; administering d maintenance programs for quay* lc homeowners. Brothers Redevelops metropolitan communities. Brothers Redevelopment has expressed interest in working with the Housing Authority as construction manager for Authority projects. Representatives of Brothers presented an overvief=their operation and experience. Areas of expertise include enhancrient of housing Chair Brungardt repot companies who respo companies will be coi considered at a future t interest has al-si W -article in the to ~rther working with local for first- ; home seniors an iered with expressed by other :ript. These cation and will be Dick and Approval of 2009 Budget the proposed Housing Authority budget for Mthe Authority, it was moved by Kent Davis and Viola to approve Resolution No. 02-2008, a ~a budget and appropriation for the year 2009. unanimously. 7. PUBLIC FORUM There was no one present to address the Authority. NEW BUSINESS A. B. It was moved by Lena Rotola and seconded by Kent Davis to enter into executive session to consider the purchase, acquisition, lease, transfer or sale of real, personal or other property, pursuant to C.R.S. 24-6-402-(4)(a). The motion passed unanimously. The regular meeting was adjourned at 4:42 p.m. The executive session was convened at 4:43 p.m. The executive session was adjourned at 5:11 p.m. The regular meeting was reconvened at 5:12 p.m. Housing Authority Minutes -2- November 25, 2008 Those attending the executive session were: Cheryl Brungardt, Housing Authority Kent Davis, Housing Authority Kathy Nuanes, Housing Authority Lena Rotola, Housing Authority Sally Payne, Deputy Director Ryan Stachelski, Economic Development Specialist Larry Nelson, Cornerstone Realty Betty Maybin, Cornerstone Realty Ann Lazzeri, Secretary 8. OTHER Larry Nelson reported that there are 9. ADJOURNMENT It was moved by Kathy Nuanes and meeting at 5:20 p.m. properties. to adjourn the Secretary Housing Authority Minutes -3- November 25, 2008 WHEAT RIDGE HOUSING AUTHORITY SPECIAL MEETING MINUTES December 9, 2008 1. CALL MEETING TO ORDER The meeting was called to order by Chair Brungardt Council Chambers of the Wheat Ridge Municipal Bo Avenue, Wheat Ridge, Colorado. 0 On. in the City 7500 West 29th 2. ROLL CALL Authority members present: LenaF Janice Authority members absent: ent Davis Others present: Community Development Stachelski, Economic Development any Nelson, Cornerstone Realty etty Maybin, Cornerstone Realty Ann Lazzeri, Recording Secretary 3. 4. 5. There we no itemshat required an executive session at this time. PUBLIC There was no one present to address the Authority. NEW BUSINESS A. Consider Counter Offer for Purchase of Property The school district has extended a counter offer to the Housing Authority regarding the possible purchase of the Fruitdale school building. Housing Authority Minutes - 1 - December 9, 2008 Ken Johnstone discussed the importance of maintaining a good working relationship with the school district when making a response to the counter offer. There was discussion about different avenues for financing the Fruitdale project. The possibility of historic preservation tax credits was also discussed. There was some discussion about the possibility of having marketing students do the marketing plan part of due diligence. Some concern was expressed about proceeding at location and current market conditions. There wa making this decision with only three agf' It was moved by Janice Thompson and the Housing Authority respond to th extending the counter offer for t 'Fru inform them that the Anthori "ill be January 27, 2009 meeting when fu%re E present. The motion passed unanimou 6. 7. OTHER There was no other business to The at 4:52 time in light of the so, concern about Authority present. na Rotola that thank them for uperty and prise at its ers Can be at this time. Ann Lazzeri, Secretary Housing Authority Minutes -2- December 9, 2008 Cs Swanhorst & Company LLC --Qnifial Public Accounu nls January 23, 2009 Board of Directors Wheat Ridge Housing Authority 7500 West 29th Avenue Wheat Ridge, Colorado 80033 We are pleased to confirm our understanding of the services we are to provide to the Wheat Ridge Housing Authority. We will audit the basic financial statements of the Authority, as of and for the year ended December 31, 2008. Also, the management's discussion and analysis, if prepared, will be subjected to certain limited procedures, but will not be audited. Audit Objective The objective of our audit is the expression of an opinion as to whether your financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States ofAmericaand to report on the fairness ofthe additional information referred to in the first paragraph when considered in relation to the basic financial statements taken as a whole. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America. Our audit will include tests of the accounting records and other procedures we consider necessary to enable us to express such an opinion. If our opinion on the financial statements is other than unqualified, we willfully discuss the reasons with you in advance. If, for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or to issue a report as a result of this engagement. Management Responsibilities Management is responsible for establishing and maintaining effective internal controls. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of the controls. The objectives of internal control are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorizations and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. You are also responsible for all management decisions and functions, for designating an individual with suitable skill, knowledge, or experience to oversee our financial statement preparation services and accepting responsibility for the financial statements. Management is responsible for making all financial records and related information available to us. We understand that you will provide us with such information required for our audit and that you are responsible for the accuracy and completeness of that information. You are also responsible for adjusting the financial statements to correct material misstatements and for affirming to us in the representation letter that the effects of any uncorrected misstatements aggregated by us during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the basic financial statements taken as a whole. 8400 E. Crescent Parkway • Suite 600 • Greenwood Village, CO 80111 • (720) 528-4306 Fax: (720) 528-4307 Board of Directors Wheat Ridge Housing Authority Page 2 Management is responsible for establishing and maintaining effective internal controls, including monitoring ongoing activities; for the selection and application of accounting principles; and for the fair presentation of the financial statements in conformity with accounting principles generally accepted in the United States of America. Management is responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud involving management, employees who have significant roles in internal control, and others where the fraud could have a material effect on the financial statements. You are also responsible for informing us of your knowledge of any allegations of fraud or suspected fraud received in communications from employees, former employees, regulators, or others. In addition, management is responsible for identifying and ensuring that the Authority complies with applicable laws and regulations and for taking timely and appropriate steps to remedy any fraud, illegal acts, or violations of contracts or grant agreements that we may report. With regard to using the auditors' opinion, you understand that you must obtain our prior written consent to reproduce or use our report in bond offering official statements or other documents. Audit Procedures-General An audit includes examining, on atest basis, evidence supportingthe amounts and disclosures in the financial statements. Therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. We will plan and perform the audit to obtain reasonable rather than absolute assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. Because an audit is designed to provide reasonable, but not absolute, assurance and because we will not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and not be detected by us. In addition, an audit is not designed to detect immaterial misstatements or violations of laws or regulations that do not have a direct and material effect on the financial statements. However, we will inform you of any material errors and any fraud that comes to our attention. We will also inform you of any other violations of laws or regulations that come to our attention, unless clearly inconsequential. Our responsibility as auditors is limited to the period covered by our audit and does not extend to matters that might arise during any later periods for which we are not engaged as auditors. Our procedures will include tests ofdocumentary evidence supporting the transactions recorded in the accounts, and may include tests of the physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected individuals, creditors, and financial institutions. We will request written representations from your attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the conclusion of our audit, we will also require certain written representations from you about the financial statements and related matters. Audit Procedures-Internal Control In planning and performing our audit, we will consider the internal control sufficient to plan the audit in order to determine the nature, timing, and extent of our auditing procedures for the purpose of expressing our opinion on the Authority's financial statements. An audit is not designed to provide assurance on internal control or to identify significant deficiencies. However, we will inform the governing body or audit committee of any matters involving internal control and its operation that we consider to be significant deficiencies under standards established by the American Institute of Certified Public Accountants. Significant deficiencies include acontrol deficiency or combination of control deficiencies such that there is more than a remote likelihood that a misstatement of the financial statements that is more than inconsequential will not be prevented or detected. Board of Directors Wheat Ridge Housing Authority Page 3 Audit Procedures-Compliance Identifying and ensuring that the Authority complies with laws, regulations, contracts, and agreements is the responsibility of management. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we will perform tests of the Authority's compliance with applicable laws and regulations and the provisions of contracts and agreements. However, the objective of our audit will not be to provide an opinion on overall compliance and we will not express such an opinion. Audit Administration, Fees, and Other Our fees for these services will be at our standard hourly rates plus out-of-pocket costs (such as report reproduction, typing, postage, copies, telephone, etc.) except that we agree that our maximum fee, including expenses, will not exceed $5,000. If the Authority is required to perform a Single Audit, additional fees will not exceed $2,000. Our standard hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to your audit. Our invoices for these fees will be rendered each month as work progresses and are payable on presentation. The above fee is based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered duringthe audit. If significant additional time is necessary, we will discuss it with you and arrive at a new fee estimate before we incur the additional costs. We appreciate the opportunity to be of service to the Wheat Ridge Housing Authority and believe this letter accurately summarizes the significant terms of our engagement. If you have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy and return it to us. Very truly yours, Swanhorst & Company LLC RESPONSE This letter correctly sets forth the understanding of the Wheat Ridge Housing Authority. Memorandum TO: Wheat Ridge Housing Authority THROUGH: Sally Payne, Deputy Director, Wheat Ridge Housing Authority FROM: Kathy Field, Administrative Assistant DATE: January 23, 2009 SUBJECT: Resolution Designating a Public Place for the Posting of Notices of Public Meetings Pursuant to legislative amendments to the Colorado Open Meeting Law as Section 24-6- 402(2)(c), Board of Adjustment is to annually designate at its first meeting for each calendar year a public place for the posting of notices for meeting. By properly designating a place for posting meeting notices, a public entity will be deemed to have given full and timely notice of any meeting so long as notice thereof was posted as the designated place at least twenty-four hours in advance thereof. Attached is Resolution 01, Series of 2009, which identifies the lobby of the Municipal Building as the designated place for posting of meeting notices. Attachment 1. Resolution 01, 2009 WHEAT RIDGE HOUSING AUTHORITY RESOLUTION NO. 01-2009 TITLE: A RESOLUTION ESTABLISHING A DESIGNATED PUBLIC PLACE FOR THE POSTING OF MEETING NOTICES AS REQUIRED BY THE COLORADO OPEN MEETINGS LAW BE IT RESOLVED BY THE WHEAT RIDGE HOUSING AUTHORITY, THAT: Section 1. The lobby of the Municipal Building shall constitute the designated public place for the posting of meeting notices as required by the Colorado Open Meetings Law. The Executive Director or his designee shall be responsible for posting the required notices no later than twenty-four (24) hours prior to the holding of the meeting. All meeting notices shall include specific agenda information, where possible. DATED this day of 2009. Cheryl Brungardt, Chair ATTEST: Ann Lazzeri, Secretary e:%p1a ing\fo=s\rescc