HomeMy WebLinkAboutResolution AllianceAirport Authority (AAA) AAA-2020-01 (4) RESOLUTION NO. AAA-2020-01
ALLIANCEAIRPORT AUTHORITY,INC. /
RESOLUTION
OF THE BOARD OF DIRECTORS
Authorizing an Agreement with CohnReznick LLP in an Amount up to $10,000.00 for an
Outside Audit of the AllianceAirport Authority,Inc.'s Financial Accounts
i
WHEREAS, AllianceAirport Authority, Inc. ("Corporation") is an industrial
development corporation created in 1989 to benefit the City of Fort Worth("City")and to,among
other things, issue bonds to promote and develop new and expanded business enterprises in the
City, to promote and encourage Iemployment, and otherwise to benefit the public welfare in
accordance with the Development Corporation Act of 1979, as amended;
WHEREAS, the Bylaws of the Corporation authorize the Board of Directors ("Board")
to exercise all powers of the Corporation; '
WHEREAS, sound business practice dictates periodic auditing of financial and other
records of any business entity to ensure accuracy and completeness of ecords and to identify any
material issues in the entity's financial and record-keeping practices;
WHEREAS,the Corporation is classified as a"component unit"of the City for accounting
purposes under the rules of the Governmental Accounting Standards Board;
WHEREAS, an audit of the records of the Corporation, as separate from the City, is
advisable to better memorialize and reflect the status of the Corporation as a distinct entity
existing separate and apart from the City for legal purposes;
WHEREAS, the Corporation desires to engage CohnReznick, LLP to furnish necessary
audit services, which CohnReznick is capable and qualified to perform; and
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD:
Section 1. That the Board hereby approves the engagement of CohnReznick, LLP, to
perform an audit of the financial records of the Corporation for a total amount not to exceed
$10,000.00.
Section 2. That the Board authorizes the President of the Board to execute and deliver any
related agreements, engagement letters, or other documents for and on behalf of the Corporation
that are necessary to engage CohnReznick,LLP, as auditor;provided,however,that CohnReznick;
LLP, will be required to report all of its findings directly to the Board.
Section 3. That the President of the Board is authorized to sign this Resolution on the
Board's behalf.
RESOLUTION NO.AAA-2020-01
PAGE 2
Section 4. That this Resolution shall take effect immediately from and after its passage.
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onald P. Gonzales, Corpo t Secretary
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