I. Review MRFI 2nd Quarter Financial Report, October 1, 2011 - December 31, 2011
The MRC’s Executive Committee reviewed the Miami River Fund Inc’s previously accepted quarterly financial reports, a 4-part document: 1) “Miami River Fund, Inc. Accrued Balances as of 12/31/11”; 2) “Miami River Fund Inc. - Profit & Loss – July 2011 through December 2011,” (current Fiscal Year to date), generated on QuickBooks; 3) “Miami River Fund Inc. - Profit & Loss – September 2011 – December 2011” (2nd quarter), generated on QuickBooks 4) Line item QuickBooks generated printouts of all expenditures and income for the 2nd Quarter of FY ‘12 covering October 1, 2011 – December 31, 2011, divided into sub-accounts.

The Executive Committee commended MRC Director Bibeau for doing an excellent job staffing the MRC alone.

The Executive Committee expressed appreciation for the $100,000 for the MRC, which was recently approved by the Florida Legislature in their adopted FY 2012 / 2013 budget, which is now under review by the Governor.

Director Bibeau distributed the April 2, 2012 version of the draft Miami Riverday budget. The Executive Committee noted the current 16th Annual free Miami Riverday budget uses $1,500 from the Riverday start-up account.

Director Bibeau distributed the March 22 version of the draft 9th Annual Miami River Map and Guide budget, showing a total profit (cash plus in-kind) of $11,057. The map will be released at Riverday, April 14, 2012.

The meeting adjourned.

I. Review of Miami River Fund Inc.’s 4th Quarter Financial Report, April 1, 2012 – June 30, 2012

Mr. Brett Bibeau provided, and the MRC Executive Committee reviewed, the Miami River Fund Inc’s (MRFI) previously accepted following quarterly financial report, a 4-part document: 1) “Miami River Fund, Inc. Accrued Balances as of 6/30/12”; 2) “Miami River Fund Inc. - Profit & Loss – July 2011 through June 2012,” (Fiscal Year 2012 - generated on QuickBooks); 3) Miami River Fund Inc. - Profit & Loss – April 2012 through June 2012,” (4th quarter of FY ’12 - generated on QuickBooks); 4) Line item QuickBooks generated printouts of all expenditures and income for the 4th Quarter of FY ’12, covering April 1, 2012 - June 31, 2012, divided into sub-accounts.

Mr. Bibeau stated the retained independent and private accounting firm, Appelrouth and Farah, have completed their work in the MRFI office, reviewing all financial files, minutes, budgets, contracts, invoices, etc. and estimated the complete FY’ 12 (July 1, 2011 – June 30, 2012) independent audit will be presented to the MRFI in October, followed by the MRC’s Executive Committee.

The meeting adjourned.