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Home My WebLink About09-19-16 CC Mtg - A5. Audit Committee Appointments Commission Memorandum REPORT TO: Honorable Mayor and City Commission FROM: Pearl Michalson, Deputy City Clerk Robin Crough, City Clerk SUBJECT: (Re)appointments to the Audit Committee MEETING DATE: September 19, 2016 MEETING TYPE: Action RECOMMENDED MOTION: I move to appoint two members to the Audit Committee with updated terms of March 1, 2017 and 2018 respectively. BACKGROUND: The Audit Committee has one ongoing vacancy with an existing expiration of March 1, 2017 for a citizen with some expertise in finance, accounting, or management and one expired seat with an updated term expiring March 1, 2018. One applicant has re-applied for the position and two new applications with the requisite experience have been received. The role of the Audit Committee is to advise the City Commission regarding selection of an auditor, monitoring the audit while in process and reviewing the comprehensive annual financial report in detail, forwarding a recommendation to the Commission. The Audit Committee has one vacancy expiring March 1, 2017 and one expired seat with an updated term expiring March 1, 2018. One re-applicant has re-applied and two new applicants have applied. Re-Applicant: New Applicants: Joseph Huber Peter Ohaman Lawrence Fossi Attachment: Board Application 82 AdvisoryBoardApplicationID: 334 Form inserted: 8/31/2016 3:45:23 PM Form updated: 8/31/2016 3:45:23 PM Name: Joseph Last Name: Huber Physical Address *: 2904 Secor Avenue P.O Box: City*: Bozeman State*: Montana Zip Code*: 59715 Primary Phone *: (406) 599-5930 Additional Phone: Email *: joseph.f.huber@gmail.com Your current occupation *: COO Employer *: Rosebrook Capital Partners How long have you lived in the Bozeman Area? *: 1-5 yr Which position are you applying for? *: Audit Committee City Limits *: yes Have you ever served on a City or County Board or Commission? *: yes If so, how long?: 2 years If so, where ?: Audit Please explain your relevant qualifications, interests and experiences. *: 2 years on the committee (though I missed last year's meeting. Trying to make up for it). I have an MS in Finance from the Sloan School at MIT, and have had the opportunity to review and analyze the finances of numerous entities during my career. I also continue to be responsible for our firm's 83 financial statements. I'm interested in making a contribution to the city, however minor, and believe the citizen advisory board is a worthwhile function. Reference 1 *: Christopher Gillette chris@cjgillettelaw.com 406.582.7918 Are you willing to comply with all ethics training requirements?: yes Reference 2 *: Chris Mehl cmehl@bozeman.net 406.581.4992 Other Info: How did you hear about us?: Asked to reapply Are You Human?: 794693 84 From:tkth5th@gmail.com To:Agenda Subject:Citizen Advisory Board Application Submittal Date:Friday, December 12, 2014 10:31:54 AM AdvisoryBoardApplicationID: 167 Form inserted: 12/12/2014 10:30:34 AM Form updated: 12/12/2014 10:30:34 AM Name: Peter Ohman Physical Address *: 612 South 10th Avenue P.O Box: City*: Bozeman State*: Montana Zip Code*: 59715 Primary Phone *: (406) 570-4537 Additional Phone: (406) 565-0039 Email *: tkth5th@gmail.com Your current occupation *: Attorney Employer *: State of Montana How long have you lived in the Bozeman Area? *: >10 yr Which position are you applying for? *: Audit Committee City Limits *: yes Have you ever served on a City or County Board or Commission? *: yes If so, how long?: 2 years(?) If so, where ?: Bozeman Bicycle Advisory Board Please explain your relevant qualifications, interests and experiences. *: Legalbackground, substantial experience in State government at a management level.Former Regional Deputy Public Defender for Gallatin, Park and Sweet Grass counties. Reference 1 *: Judge John Brown 406.582.2150 jbrown3@mt.gov Are you willing to comply with all ethics training requirements?: yes 85 Reference 2 *: Bill Hooks - Chief Public Defender 406.496.6080 WHooks@mt.gov Other Info: I have been involved with many audits. I enjoy learning about and beinginvolved in the workings of government. I've lived in Bozeman for over 20 years, andwould like to provide assistance to my community in a volunteer capacity. How did you hear about us?: Online 86 AdvisoryBoardApplicationID: 288 Form inserted: 4/13/2016 10:50:58 AM Form updated: 4/13/2016 10:50:58 AM Name: Lawrence Last Name: Fossi Physical Address *: 25 Hawthorn Lane P.O Box: City*: Bozeman State*: Montana Zip Code*: 59715 Primary Phone *: (713) 854-4027 Additional Phone: Email *: ljude57@gmail.com Your current occupation *: Portfolio Manager Employer *: Rahr Enterprises LLC How long have you lived in the Bozeman Area? *: Choose Which position are you applying for? *: Audit Committee City Limits *: yes Have you ever served on a City or County Board or Commission? *: no If so, how long?: If so, where ?: Please explain your relevant qualifications, interests and experiences. *: I am a graduate of Rice University and Yale Law School. I practiced commercial trial law in Texas for most of my career, and in 2011 moved to New York City to manage a former client's financial affairs. I rent in NYC, own a home in Bozeman, and split my time between the two. In my legal career and 87 more recently while working in finance, I have learned a significant amount about municipal finance. I have long been concerned about the looming pension crisis which threatens to strain the resources of many US states, cities, and other governmental bodies. I am attaching a link to a recent report from the Hoover Institute detailing the situation. https://www.scribd.com/doc/307464825/Hidden-Debt-Hidden-Deficits-How-Pension-Promises-Are-Consuming-State-and-Local-Budgets-by-Joshua-D-Rauh I would be pleased to serve on an advisory committee to study the City of Bozeman's pension plan(s) and to make recommendations, if appropriate, about how to assure the plan's continuing soundness. The study would consider, among other things, the present value of pension liabilities, funding levels, asset growth assumptions, and other actuarial assumptions. Perhaps this issue is already being given careful study by other capable Bozeman officials and, if so, Bozeman is ahead of the curve and whatever services I might be able to provide are unnecessary. Reference 1 *: John P. Darden Bozeman Audi (406) 580-3863 johndarden@bozemanaudi.com Are you willing to comply with all ethics training requirements?: yes Reference 2 *: Lucas Cain Program Specialist Gallatin Valley Land Trust 406) 587-8404, ext 2 lucas@gvlt.org 88