Minutes

The meeting was called to order at 10:05 A.M.

Approval of Minutes

The minutes of the July 1, 2003 meeting were unanimously approved.

Previous Meeting

Stephen Langowski recapped the previous Audit Committee meeting, and noted that it was important to expedite the audit, requiring good communication between Society staff and Eisner staff.

Auditor Open-Item List

Mr. Langowski turned the meeting over to Lynn Chambers. Ms. Chambers reviewed the list that had been presented by Eisner to the staff, and noted that everything had been given to the auditors except the functional expense worksheet and a schedule of FAE investment income. Julie Floch and Lynda Feldman of Eisner said they were happy with how the audit was progressing.

Future Meetings

The auditors said that Friday, July 18, 2003 would probably be the final day of audit fieldwork. A decision was made to hold another telephone conference call on Tuesday, July 22 at 3:00 PM to review the status of the preliminary audit report.

With no further business to be discussed, the meeting was adjourned at 10:20 A.M.

Respectfully submitted,

David Haar
Approved 7/22/03