Draft Minutes for the PNB Audit Committee 12-13-2004.

Attending:
Ambrose I. Lane Sr.
T.C. Smythe
Max Blanchet
Teresa Allen
Marnie Tattersall
Jan Goodman
R. Paul Martin

Also attending:
Ben Garcia
Donna Warren



Meeting convened by the Chair at 7:38 PM (ET)

Motion: (Lane) "Adopt Agenda" (passed without objection)

Agenda:
I. Call to Order
II. Select Secretary; discuss quorum
III Approve Minutes
IV. Inter-unit transfers.
V. Questions for Ross Wisdom
VI. Variance of Audits over 15 years
VII. Investment
VIII. Set next meeting
IX. Adjournment

Nominations for Secretary

Max Blanchett nominates R. Paul Martin

There are no other nominations.

R. Paul Martin is elected Secretary without objection.

Approval of Minutes

Motion: (Lane) "Approve minutes for 10/26/2004, meeting." (passed without
objection)

Inter-unit transfers

Motion: (Terry Goodman) "Resolved: That the Pacifica Finance Office shall begin
assembly of the information that would be required for compliance with the PNB
Resolution of August 23, 2004, calling for an audit of inter-unit transfers
since 1/1/2002, and that updated Auditor cost estimates for various levels of
review and attestation be submitted to the Audit Committee for an appropriate
recommendation to the PNB on how to proceed.
The Pacifica Fin office shall provide a progress report by E-mail to the
Audit committee and the PNB by January 3, 2005" (passed as amended without
objection)

Amendment: (TC Smythe) "The Pacifica Fin office shall provide a progress
report bu E-mail to the Audit committee by January 3, 2005." (Withdrawn).

Amendment: (Jan Goodman) "add 'and the PNB.'" (accepted without objection)

8:28 PM (ET) - somebody came on.

8:31 PM (ET) - Donna Warren leaves meeting.

Variance of Audits over 15 years

T. Allen - disappointed that Berthold isn't here. Do people want to do this
next item.

Move the agenda: (Lane) leave this for next meeting.

Investment

Motion: (Allen) "The PNB form a committee that works with national Staff
forming investment policies and procedures to invest and leverage money
received from listeners." (passed without objection)

8:47 PM (ET) Jan Goodman leaves

Motion: (Martin) "That the next meeting of the Audit Committee be Monday, Jan.
31, 2005, at 7:30 PM (ET).

Motion: "to adjourn" passed

meeting adjourned 8:52 PM (ET)