Audit Committee Meeting Minutes October 16, 2023

Open­ing:

The Audit Com­mit­tee Meet­ing of the Pana­ma City-Bay Coun­ty Air­port and Indus­tri­al Dis­trict was called to order at 2:30 p.m., Octo­ber 16, 2023 by Chair Will Cramer. 

Roll was called. In atten­dance were: Mr. Ben Lee, Senior Vice Pres­i­dent of Han­cock Whit­ney Bank, Mr. Joey Ginn, Mar­ket Pres­i­dent of Cen­ten­ni­al Bank and Chair Will Cramer.

Air­port Staff includ­ed Ms. Dar­lene Gor­don, CFO, Ms. Ger­ri Lynn Fair­cloth, Pro­cure­ment Man­ag­er, Mr. Park­er McClel­lan, Exec­u­tive Direc­tor and Ms. Jen­nifer Shuler, Legal Coun­sel. Air­port Staff will only serve in an advi­so­ry role.

Ms. Ger­ri Fair­cloth explained that this meet­ing was to review the eval­u­a­tion scores. She explained that dur­ing this time every­one would be able to dis­cuss the scores, ask ques­tions and receive any clar­i­fi­ca­tion on the respons­es as need­ed. Ms. Dar­lene Gor­don, Direc­tor of Finance, pre­sent­ed some key points to con­sid­er when choos­ing the Audi­tor such as air­port expe­ri­ence, size of the firm, expe­ri­ence with audit­ing a spe­cial dis­trict, cost, and the types of finan­cial state­ments that they pre­pare. Oth­er con­sid­er­a­tions dis­cussed were the audit report and addi­tion­al charges not includ­ed in pricing.

Ms. Jen­nifer Shuler remind­ed the Com­mit­tee that any con­ver­sa­tion with Staff was infor­ma­tion only, and should not influ­ence the scor­ing deci­sion in any way. She said that the Com­mit­tee should con­fine their scor­ing to the pro­pos­als that were submitted.

The Com­mit­tee dis­cussed, reviewed and adjust­ed some of their scores. The final totals were:

Firm Tech­ni­cal Response Points Cost Points Total Points

Tip­ton, Mar­ler, Gar­ner & Chas­tain 232.00 19.88 251.88

Mauldin & Jenk­ins 225.00 17.35 242.35

James Moore & Co. 197.00 20.00 217.00

Based on the rank­ings, Chair Cramer asked for a motion to for­ward to the Board the rec­om­men­da­tion to award the Audit Ser­vices con­tract to Tip­ton, Mar­ler, Gar­ner and Chas­tain. This rec­om­men­da­tion will be pre­sent­ed at the next month­ly Board Meeting.

Mr. Ginn made a motion to for­ward to the Board of Direc­tors the rec­om­men­da­tion of con­tract award to Tip­ton, Mar­ler, Gar­ner and Chas­tain for Audit Ser­vices, and Mr. Lee sec­ond­ed the motion. The vote was tak­en and the motion passed unanimously.

Adjourn­ment:

The meet­ing was adjourned at approx­i­mate­ly 3:12 p.m.

Next meet­ing scheduled: 

Octo­ber 25, 2023 – Board Meet­ing 9:00 a.m.

_________________________________ ________________________________

Lisa Brady, Exec­u­tive Assis­tant Will Cramer, Chair