Audit and Finance

RESOLUTION
BOARD OF DIRECTORS
CORPORATION FOR PUBLIC BROADCASTING
WASHINGTON, DC
Tuesday, March 7, 2017

unanimously

RESOLVED,

That the Board of Directors of the Corporation for Public Broadcasting accepts the Combined Financial Statements, Independent Auditors’ Report, and Reports in Compliance with the Uniform Guidance (previously referred to as OMB Circular A-133) for the Corporation for Public Broadcasting and Affiliate for September 30, 2016 and 2015.

Resolution Date: 
Tuesday, March 7, 2017

Unanimously

RESOLVED,

That the Board of Directors of the Corporation for Public Broadcasting accepts the Combined Financial Statements and Report of Independent Certified Public Accountants, and Reports in Compliance with OMB Circular A-133 for the Corporation for Public Broadcasting and Affiliate for September 30, 2015 and 2014.

Resolution Date: 
Thursday, February 4, 2016

 

Unanimously

RESOLVED,
The Board of Directors adopts the attached CPB Investment Policy.


CPB Investment Policy

Investments permitted per 1995, 2008, 2009 and 2016 Board resolutions are as follows:

  1. U.S. Treasury Bills.
  2. U.S. Treasury Notes maturing within three years from the date of purchase.
  3. Obligations of U.S. Government Agencies maturing within three years from the date of purchase.
  4. Bankers acceptances of U.S. banks rated “B” or higher by Fitch.
  5. Repurchase agreements collateralized by U.S. Government securities or U.S. Government Agency securities.
  6. Negotiable certificates of deposit and time deposits of U.S. banks maturing within two years and rated “B” or higher by Fitch.
  7. Commercial paper of domestic corporations rated both “A1” by Standard and Poor’s and “P1” by Moody’s.
  8. Corporate bonds of domestic corporations whose short-term and long-term ratings are at least A1 and A, respectively, by Standard and Poor’s, and P1 and A2, respectively, by Moody’s, and that mature within three years from the date of purchase.
  9. Money market funds or mutual funds backed by any of the foregoing securities, within the limits listed below and are regulated by the U.S. Securities and Exchange Commission (SEC) pursuant to Rule 2a-7 under the Investment Company Act of 1940.

Limits applied to the investment of CPB funds:

  1. No limit is imposed on purchases of U.S. Treasury Bills, U.S. Treasury Notes or obligations of U.S. Government Agencies.
  2. No more than the greater of 10% or $25 million of the portfolio is to be invested in securities issued by any one bank.
  3. No more than the greater of 10% or $25 million of the portfolio is to be invested in securities issued by any one corporation.
  4. No more than 50% of the portfolio is to be invested in commercial paper and/or corporate debt.
Resolution Date: 
Thursday, February 4, 2016
Unanimously

RESOLVED,

That the Board of Directors of the Corporation for Public Broadcasting accepts the Combined Financial Statements and Report of Independent Certified Public Accountants, and Reports in Compliance with OMB Circular A-133 for the Corporation for Public Broadcasting and Affiliate for September 30, 2014 and 2013.

Resolution Date: 
Tuesday, February 3, 2015
Unanimously

RESOLVED,

That the Board of Directors of the Corporation for Public Broadcasting accepts the Combined Financial Statements, Report of Independent Certified Public Accountants, and Reports in Compliance with OMB Circular A-133 for the Corporation for Public Broadcasting and Affiliate for September 30, 2013 and 2012.

Resolution Date: 
Monday, February 10, 2014
Unanimously

RESOLVED,

That the Board of Directors of the Corporation for Public Broadcasting accepts the Combined Financial Statements, Report of Independent Certified Public Accountants, and Reports in Compliance with OMB Circular A-133 for the Corporation for Public Broadcasting and Affiliate for September 30, 2012 and 2011.

Resolution Date: 
Tuesday, February 19, 2013
Five in favor, one absent

RESOLVED,

That the Board of Directors of the Corporation for Public Broadcasting, having received the report of the Audit and Finance Committee, and upon recommendation of the Audit and Finance Committee, accepts the Combined Financial Statements, Report of Independent Certified Public Accountants, and Reports in Compliance with OMB Circular A-133 for the Corporation for Public Broadcasting and Affiliate for September 30, 2011 and 2010.

Resolution Date: 
Tuesday, February 7, 2012
Unanimously

RESOLVED,

That the Board of Directors hereby approves the attached Audit and Finance Committee charter as revised.

Resolution Date: 
Monday, November 7, 2011
8 in favor, 1 absent

WHEREAS,

The Audit and Finance Committee is responsible for the Corporation's relationship with its external auditors and recommending to the Board either the retention of the Corporation's auditors or the selection of new auditors.

WHEREAS,

The Audit and Finance Committee has recommended the engagement of BDO Seidman to conduct the Corporation’s audit and to provide related services for fiscal year 2010.

THEREFORE, BE IT RESOLVED,

The CPB Board authorizes the CPB President and CEO to negotiate and enter into an agreement with the audit firm BDO Seidman as recommended by the Audit and Finance Committee.

Resolution Date: 
Wednesday, January 27, 2010
5 in favor, 3 absent

RESOLVED,

That the Board of Directors of the Corporation for Public Broadcasting, having received the report of the Audit and Finance Committee, and upon recommendation of the Audit and Finance Committee, accepts the FY 2008 audited financial statements and report of BDO Seidman, LLP, external auditors of the Corporation.

Resolution Date: 
Tuesday, January 27, 2009