And if we have that notification while we’re on site doing an audit, we include that in our report. The agency will notify DFA and Legislative Audit of any thefts. So could you explain to me the process as to when and how you all do your reporting of audit findings? However, you have a finding here dated January the 11th, 2021. I would just like to know the schedule as to how you all report the findings, given that I read at the head of your report that it is for the period ending June 30, 2020. Springer : 00:04:50.203 Good morning Thank you, Mr. Members, do you have any questions on audit findings? Representative Springer, you’re recognized. Chair, this concludes my presentations of the findings for the agency. Various items valued at approximately $5,000 were stolen from a storage unit in DeWitt.
A 20 horsepower Yamaha outboard motor with the cost of $3,200 was stolen from an Arkansas Game and Fish Commission trout boat while located at a repair shop in Baxter County.
The agency self-reported the following thefts of state property, which were included in our report for the year ended June 30, 2020. The findings, members, are on the next to the last page on your printed sheets, black and white copy. If you will recognize yourself and present. And first agenda we have is audit findings. First step this morning, we have the Game and Fish. Members, I call the Arkansas Legislative Council Joint Budget Committee budget hearings in order. Public Defender Commission approved with amendments.Disability Determination approved as recommended.Teacher Retirement approved as recommended.Public Employee Retirement approved with amendments.Public Service Commission approved as recommended.Judicial Discipline approved as recommended.Ethics Commission approved as recommended.Claims Commission approved as recommended.Election Commission approved as recommended.Since our shareholder wanted to remain invested, it was important that MML convinced him not only that they would deliver on the transaction, but also that they were the right partner to drive value growth and be the custodians of his continued minority investment.Actions Taken (click each to jump to that discussion) We then spoke to a number of their investee companies, who referenced them very well, before we introduced them to our shareholder. We met with the MML team, built a relationship and established an alignment in terms of what we both believed the opportunity was. The advisor understood what we needed and the type of investor who would work well with us. We were introduced to Richard and Ian via an advisor who we knew well and trusted. On the flip-side if we ask for something and they don’t have the answer, they’ll tell you so, but they’ll also often suggest how we can find the answer together! How did you choose MML to be your partner? Sometimes that is helpful, just to give some perspective. They are not “recruiters” and don’t pretend to be, and whilst they obviously understand the business and the drivers, and push and challenge us on these, they are not afraid to ask the simple questions. It’s clear they enjoy what they do and want us to enjoy working with them.
They are smart people but without the ego that often goes with it.
What was your first impression of working with MML? We therefore had one shot at a deal and we took it with MML …. He offered us the opportunity to bring a prospective partner to the table but we all understood that if that party didn’t deliver on its commitment, there was limited, if any, appetite to further distract management and the business with a drawn out process. Our shareholder didn’t want or need to do the deal, but he understood that management needed a transaction for a number of reasons. The most significant concern I had was not about how it would be to work with PE, since I knew we would spend time getting to know our investor beforehand, it was about introducing an investor to our main shareholder who then subsequently didn’t deliver. What was your biggest fear about working with private equity investors?
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