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PEDC Board Meeting Minutes April 9, 2013 Page 2 of 3 definitely worth a look at * ± t: �� il.c.a• ::.' x K:. and click on the YouTube tab at the top of the home page. The industry leaders met with Speaker of the house, Joe Straus' staff to offer Paris, Texas as a "Pilot" for Work Keys Community. A meeting Andy Mangan of the U.S. Business Council for Sustainable Development took place during the lunch hour. The aftemoon legislative briefings were led by experts in the fields of water preservation, Texas Dept. of Agriculture, Texas Water Development Board, General Land Office, The Governor's Office of Economic Development and Tourism, and others. Toni Clem added that she attended the meetings with the industry leaders and the senior staff for the Speaker of the House, and they seemed genuinely surprised and interested in Steve's offer for Paris to serve as a rural pilot program for successful economic development. Steve added that the annual Small Business and Entrepreneur Conference (SBECon) would be at Texas A &M- Commerce joined by other EDCs in the region (Commerce, Greenville and Paris) on Wednesday, April 17a` . Discussion and possible action regarding Final Audit Report for FY 2011 -12. Pam Anglin asked about the "Communications of Reportable Conditions" — "...Paris Economic Development Corporation maintains several accounts at one bank which are set up under its corporate name and identification number. The bank provides FDIC coverage as required, however, some deposits do not appear to be insured nor secured by securities pledged by the bank. We recommend that management or the board of directors continue to monitor the situation to assess the risk involved and determined an appropriate action." Discussion took place regarding the same statement being in the FY Audit for 2010 -11 and that Gene Anderson, Finance Director for the City of Paris was to include the Paris EDC funds with the upcoming depository agreement. Kenny Dority stated the City's bid package for the depository agreement went out months ago and he didn't remember Paris EDC funds being included. Shannon Barrentine said she would follow up with Mr. Anderson to see what had been done regarding this matter. Rebecca Clifford noted the misspelled name of Richard Seline on page 4 of the audit, he was referenced as Richard Sales. Toni CIem made a motion to approve the final audit report, with the name being changed; seconded by Bruce Carr. Motion Carried 3 -0 with Rebecca Clifford abstaining. The Board convened into executive session at 3:36 p.m. pursuant to Section 551.072, Section 551.074 and Section 551.087 of the Texas Government Code to discuss and deliberate on the following: A. Section 551.072 - Real Property B. Section 551.074 — Personnel Matters C. Section 551.087 — Economic Development Negotiations The Board re- convened into open session at 4:29 p.m. As a result of executive session discussion, the Board took the following action: Toni Clem made a motion to accept the Executive Director's annual evaluation, with goals attached; seconded by Bruce Carr. Motion Carried 3 -0 with Rebecca Clifford abstaining.