ARIZONA STATE LEGISLATURE

SENATE FINANCE AND HOUSE OF REPRESENTATIVES FINANCIAL INSTITUTIONS COMMITTEE OF REFERENCE FOR

THE PERFORMANCE AUDIT AND THE SUNSET REVIEW OF:

ARIZONA DEPARTMENT OF FINANCIAL INSTITUTIONS

Minutes of the Meeting

Monday, October 21, 2013

1:30 p.m., House Hearing Room 3

Members Present:

Senator Steve Yarbrough, Co-Chair Senator Michele Reagan

Representative Kate Brophy McGee, Co-Chair Representative Jeff Dial Representative Lydia Hernandez Representative David Livingston

Members Absent:                                      

Senator Olivia Cajero Bedford	Representative Rosanna Gabaldon
Senator Bob Worsley
Senator Robert Meza

Staff:

Virginia Carico, House Research Analyst

Bill Ritz, Senate Research Analyst

Co-Chairman Brophy McGee called the meeting to order at 1:37 p.m. and attendance was noted.

Presentation by the Auditor General

Derek Barber, Performance Auditor, Office of the Auditor General, distributed a handout entitled “Arizona Department of Financial Institutions, Performance Audit and Sunset Review” (Attachment A). Mr. Barber gave a powerpoint presentation and answered questions posed by the Committee.

Response by the Arizona Department of Financial Institutions

Lauren W. Kingry, Superintendent, Department of Financial Institutions, introduced  the managers of the department and distributed a handout entitled “Arizona Department of Financial Institutions, Sunset Review Presentation, Committee of Reference” (Attachment B) and gave an overview of the response by the Department of Financial Institutions to the audit performed by the Auditor General’s Office.  Mr. Kingry answered questions posed by the Committee.

Recommendations by the Committee of Reference

Senator Yarbrough moved that the Committee of Reference make the recommendation to continue the Arizona Department of Financial Institutions for ten years.  The motion CARRIED with a voice vote.

Attached is a list noting the individuals who registered their position on agenda items (Attachment C).

There being no further business, the meeting was adjourned at 2:26 p.m.

                                                                                    Respectfully submitted,

                                                                                    Toy Brown

                                                                                    Committee Secretary

(Audio recordings and attachments are on file in the Secretary of the Senate’s Office/Resource Center, Room 115. Audio archives are available at http://www.azleg.gov)

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Senate Finance and House of Representatives Financial

Institutions Committee of Reference

October 21, 2013

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