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November 13, 2006
UUA Governance & Management, UUA Committees

MEMBERS PRESENT: Brody, Merck, Reece, Saunders, Smith
ALSO PRESENT: Charbonneau, Atwan, Rutherford, Einhorn, Crowell, Gladyszak, Montgomery, Brennan (Staff Liaison)


Actions Taken:

VOTED: Approve the minutes of the May 17, 2006 meeting as written.


Issues Discussed:

1)FIN47 accounting

2)Net cash position

3)KPMG report of a lack of expected upcoming GAAP adjustments

4)Differences in reporting format between Beacon Press and Skinner House

5)Status of FY05 management letter recommendations

6)Impact of SAS112

Actions Taken:

VOTED:Go to executive session.

VOTED:Approve the FY06 financial statements subject to any substantive changes.

VOTED:Approve the FY06 management letter subject to any substantive changes.


Issues Discussed:

1)Items to be covered by January 1, 2008:

a)Conflict of interest

b)March 31, 2007 timeline items

c)Audit planning session

d)Business practices review and scope statement

e)Physical status and preservation of UUA properties

2)Meetings to take place 2 times per year—multi-day meetings if needed

3)Next meetings tentatively scheduled for 4/13/07 and 10/5/07


Issues Discussed:

1)Merck and Brody have established a private business agreement. This has been approved by Gini Couter, UUA Moderator, and the Board of Trustees' Administrative Organizational and Personnel Committee (AOPC).

2)Conducting a business practices review

Outstanding Items:

1)Brennan will investigate potential firms to conduct the business practices review by end of 2007 calendar year.