HomeMy WebLinkAboutHousing & Redevelopment Authority - Minutes - 09/05/2023 FinanceHOUSING AND REDEVELOPMENT AUTHORITY
OTTERTAIL
COUNTY • MINNESOTA
The Otter Tail County HRA Board of Commissioners
Government Services Center
500 West Fir Avenue
Fergus Falls, MN 56537
Met for a Finance Committee meeting on September 5, 2023 at 3:30 p.m.
Board Members Present:
At the Otter Tail County Government Services Center
500 W Fir Ave, Fergus Falls, MN
Wayne Johnson, Chairperson
Leland Rogness, Vice Chairperson
Others Present:
Barbara Dacy, OTC HRA Executive Director
Tanya Westra, OTC HRA Project Manager
Julie Bakken, OTC HRA Accounting Specialist
Kris Vipond, OTC Assistant Finance Director
Dawn Godel, OTC Accounting Supervisor
Paula Grunewald, OTC HRA Administrative Assistant
Bryce Karel, Brady Martz & Associates, P.C.
Amy Baldwin, OTC CDA Director -arrived around 4:00 p.m.
1. 2022 Audited Financial Statements
Bryce Karel, Brady Martz & Associates, P.C., stated he was from the Fargo branch of Brady Martz & Associates,
P.C. He gave an overview of the 2022 audit and highlighted the Management's Discussion and Analysis,
Statement of Net Position, Statement of Revenues, Expenses and Changes in Net Position, Statement of Cash
Flows, Notes to the Financial Statements, Client Specific Disclosure, Combining Schedule of Net Position
(breaking out Public Housing, Section 8 and General & State/Local), Combining Schedule of Revenues, Expenses
and Changes in Net Position, Combining Schedule of Cash Flows, and Schedule of Capital Fund Costs. He also
reported on the Compliance Section and Schedule of Findings and Responses. Mr. Karel also responded to
questions about the loss on Disposal of Capital Assets reported on page 10 and 19, and about noncurrent assets
on page 24 pertaining to the various rehabilitation program questions.
Rogness stated that the Committee should recommend the HRA Board accept the 2022 Audit. Johnson agreed
and noted that the electronic reporti ng is a duty of staff to complete prior to the deadline. Johnson stated this was
a great audit report. Mr. Karel left the meeting at this time.
2. HRA FINANCIAL POLICIES
Director Dacy handed out a copy of a letter from Lucia Clausen, Director, Office of Public Housing, dated January
30, 2023 regarding the findings of the 2021 Audit, which Ms. Dacy stated, are the same for 2022. Ms. Dacy stated
that the key message from this letter is that the Board of Commissioners should participate in the supervision and
financial oversight of the Authority. Ms. Dacy stated that this is part of the purpose of the Finance Committee is to
monitor these findings. She also stated that at the end of the letter there is a recommendation to establish policies
and procedures and to continuously monitor the "environment to ensure that procedures and policies are updated
when needed".
Director Dacy reviewed the status of updating and adopting various policies. She stated that the accounting
policies adopted to date include the Investment Policy, Capital Assets Policy, HAP Processing Policy, and Fund
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Balance Policy. She stated that Finance staff is working on approximately 15 additional financial policies which are
typical and routine policies. She stated that they will be presented at a future Finance meeting, before the end of
the year, to review and bring forward for HRA's Board approval. She noted that the 2010 Procurement Policy will
also be presented for review and approval.
It was requested that future Finance Meetings be scheduled at 3:30 pm.
Also the Commissioners would like to see the policies in a collective manner which will serve ultimately as a HRA
Policy Manual.
3. GENERAL DISCUSSION -TOPICS BY COMMISSIONERS
Kris Vipond, Otter Tail County Assistant Finance Director, stated that Julie Bakken, HRA Accounting Specialist,
has done a lot of work with the required financial reporting and policies, and has learned quickly in a short amount
of time. Rogness and Johnson agreed and complemented staff on the audit on behalf of the HRA.
The meeting was adjourned.
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