5766688 CADDO-BOSSIER PARISHES PORT COMMISSION Audit Committee Meeting Presentation Regional Commerce Center, 3rd Floor Board Room 6000 Doug Attaway Blvd., Shreveport, LA 71115 June 12, 2023 at 3:45 p.m. 1. CALL TO ORDER / OPENING REMARKS: Commission President Walter O. Bigby, Jr called the meeting to order at approximately 3:47 p.m. in the 3rd Floor Board Room of the Regional Commerce Center, 6000 Doug Attaway Blvd., Shreveport, Louisiana and welcomed everyone. 2. PLEDGE OF ALLEGIANCE: Commissioner Bigby led the Pledge of Allegiance. 3. ROLL CALL: The roll was called by Executive Port Director, Eric England. Commissioners in attendance included: Walter O. Bigby, Jr, William "Bill" R. Altimus, Sam N. Gregorio, and James D. Hall. Absent: Joshua K. Williams, Erica R. Bryant, Roy Griggs, Capt. Thomas F. Murphy (Ret.), and Rick C. Prescott. A quorum was not present. Mr. England stated no action is scheduled to be taken at this Audit Committee meeting, therefore a quorum is not necessary to conduct the meeting. 4. PUBLIC COMMENT ON AGENDA ITEMS: Commissioner Bigby asked for any public comments on agenda items. Hearing no public comments, Commissioner Bigby moved on to the next agenda item. 5. 2022 AUDIT PRESENTATION AND LOUISIANA LEGISLATIVE AUDITOR'S AGREED-UPON PROCEDURES: HEARD, McELROY, & VESTAL. Mr. England noted Jerrod Tinsley, who is head of the Port's audit team is out sick. Mr. England introduced Aimee McFarland and Nick Courville from Heard, McElroy, and Vestal who would be presenting the draft 2022 Audit. Ms. McFarland directed the Commission's attention to page 1 of the Independent Auditor's Report which states an unmodified opinion was determined for the 2022 financial statements. The audit was also conducted under government auditing standards. Beginning on page 25, the internal control reports reflect no material weaknesses or significant deficiencies were noted. There were no instances of noncompliance relating to the financial statements. Mr. Courville noted the unmodified opinion is the highest level that can be received. The audit draft does not include the "MDNA" or Management Discussion and Analysis which will be completed before the final report is submitted to the Louisiana Legislative Auditor on or before June 30th. Mr. Courville asked if there were any specific questions from the Commission at this time. Mr. England requested they review the AUPs with the Commission. Mr. Courville noted the Louisiana Legislative Auditor has a list of requirements for auditors to review called the Agreed-Upon Procedures or the AUPs. This is a routine exercise to confirm compliance with the Louisiana Legislative Auditor. Page 1 through 3 reflect the findings of the written policies and procedures where all procedures were performed without findings. On page 13, there was a finding regarding the documentation for required sexual harassment training on file. Five employees were selected for review. The report states one employee did not complete the training. The employee was on disability leave and not in active service. Ms. McFarland stated the auditors are bound by the procedures required by the Louisiana Legislative Auditor. There may be exceptions, but does not mean they rise to the level of a finding within the financial statements audit. This finding does not reflect on the internal controls nor show any discrepancy within the Port. Mr. England complemented Director of Finance Gloria Washington and Mary Ward on their work with Heard, McElroy and Vestal's staff to complete the audit report. Mr. England further commended Ms. Washington on the unmodified audit and an outstanding job. 6. ADJOURN: Hearing no other comments or questions to come from the Board, Commissioner Bigby adjourned the meeting at approximately 4:02 p.m. Respectfully submitted, /s/ Joshua K. Williams Secretary-Treasurer The Times 7/14/2023