July 16, 2020

Michigan Committee on Governmental Auditing and Accounting

July 16, 2020

Meeting Minutes

1. Call To Order
   1. Cary Vaughn called the meeting to order at 10:04 a.m.
2. Review Of Prior Meeting Minutes
   1. Motion was made approve the April 23, 2020, meeting minutes. April 23, 2020, meeting minutes were approved by the committee. 7 Ayes and 0 Nays.
3. Uniform Chart of Accounts
   1. Cary Vaughn updated the committee that the Uniform Chart of Accounts. A modified version will be ready for a final review soon.
4. Road Commission Accounting Manual
   1. Cary Vaughn updated the committee that the Road Commission Accounting Manual is at the end stages of being done. Treasury sent the manual to the County Road Association and is waiting for their review and comments.
5. Budget Manual
   1. Michelle Watterworth reported that she is sending the final version to MGFOA for review and then back to Treasury for review.
6. Audit Guide for Transportation Authorities
   1. Cary Vaughn reported that a new draft of the Audit Guide for Transportation Authorities was sent to him. Treasury will touch base with the Michigan Department of Transportation to talk about it.
   2. MCGAA Draft Meeting Minutes Page 2 July 16, 2020
7. Uniform Reporting Format: Searchable Audits Numbered Letter
   1. Cary Vaughn reported that the searchable audit requirement was issued in June. Local units have one year to comply.
8. Audit Manual for Road Commissions
   1. Cary Vaughn reported that it has not been looked at. However, it will go hand in hand with a future version of the Accounting Manual.
9. Fund Balance Guidance
   1. Cary Vaughn reviewed with the Committee and they would like to revisit this in the future due to award dates, accruals, and period of availability, etc.
10. Next Scheduled Meeting
    1. The next scheduled meeting is October 15, 2020, at 10:00 a.m.
11. Adjournment
    1. The Michigan Committee on Governmental Auditing and Accounting meeting adjourned at 11:05 a.m.

Roll Call

Members Present

• Rod Taylor
• Pauline Bennett
• Stephen Blann
• Michael Slater
• Bill Tucker
• Cary Vaughn
• Michelle Watterworth