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01/28/2015 (2)
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01/28/2015 (2)
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Last modified
7/2/2018 11:19:05 AM
Creation date
3/23/2016 9:10:08 AM
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Meetings
Meeting Type
Special Call
Document Type
Minutes
Meeting Date
01/28/2015
Meeting Body
Board of County Commissioners
Book and Page
5
Subject
Florida Municipal Power Agency (FMPA)
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FilePath
H:\Indian River\Network Files\SL00000H\S0005C6.tif
SmeadsoftID
14510
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Clerk of Circuit Court and Comptroller Jeffrey R. Smith indicated State <br /> Representative Debbie Mayfield was a member of the Legislative Auditing <br /> Committee, and he suggested giving her the information. In addition, he <br /> expounded on the comments heard, and recommended the Board look at what <br /> Purvis Gray & Company, CPA Firm, had to say about the internal control <br /> structure of the FMPA. <br /> J. Rock Tonkel voiced it would ultimately be a judicial action or legislative <br /> solution in order to bring about the changes and accountability to the FMPA. <br /> Mark Mucher, 617 Indian Lilac Road, wanted the items that "fell through the <br /> cracks" in the audit to be readdressed. <br /> Dan Stump said it would take a judicial action, not legislative acts, to get the <br /> City and outside city electric ratepayers to become customers of Florida Power <br /> & Light. <br /> Gerard Weick, as a ratepayer, questioned the amount that FMPA spends on <br /> lobbyists, and wanted to know their names. <br /> Caroline Ginn gave a brief history on FMPA and described the structure. <br /> There were no additional speakers, and the Chairman closed the Public <br /> Hearing. <br /> ..� Discussion ensued on the audit and how it was funded, and the FMPA Board <br /> and its membership. Attorney Reingold explained the Auditor General was <br /> given authorization to spend $200,000 for subject matter experts. <br /> MOTION WAS MADE by Vice Chairman Solari, SECONDED by <br /> Commissioner Zorc, to request the Auditor General and the Joint Legislative <br /> Auditing Committee of the Florida Legislature to use the remaining $200,000 <br /> allocated for audits from funds in the State's Specific Appropriation 2685, <br /> General Revenue Fund to: <br /> 1. Determine the Fair Market Value of the Generation Assets. <br /> 2. Determine Fair Market Value of the Florida Municipal Power Agency <br /> as a whole. <br /> 3. Prepare three years of pro forma financial statements from FMPA <br /> based on the Governmental Accounting Standards Board which would <br /> include: a balance sheet, profit and loss statement, and two cash flow <br /> statements. <br /> 4. Review the Purvis Gray & Company comments regarding the Florida <br /> Municipal Power Agency's internal policies and controls. <br /> 5. Include the Florida Municipal Electric Authority to the scope of the <br /> audit or the pro formas to be performed. <br /> r <br /> Special Call Meeting Page 3 <br /> January 28,2015 <br />
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