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HomeMy WebLinkAbout2026-05-16 Agenda BOARD OF DIRECTORS WILMINGTONHank Miller,Chairman REGIONAL ILM COMMISSION, INC. Sabrina S.Davis,Vice-Chairman 1223 NORTH 23rd STREET ® WILMINGTON, NC 28405 Kirk Englebright REM 910.343.3456 Tel ® 910.343.3457 Fax Judy Girard commish@wilmingtonfilm.com • www.wilmingtonfilm.com Honorable Bill Rivenbark Honorable Bill Saffo Michael Scott,Jr. BOARD DIRECTORS OF THE WILMINGTON REGIONAL FILM COMMISSIONa I Cm Agenda for Regular Meeting May 1 , 226 8:30 AM 1. Approval of the minutes from January 13, 2026 board meeting (EXHIBIT "A") 8:31 AM 2. Approval of the Letter of Engagement from Goodson &Taylor, CPAs to perform an audit of the Financial Statements of FY 25/26 (EXHIBIT"B") 8:33 AM 3. Approval of budget for FY 26/27 (EXHIBIT "C") 8:45 AM 4. Production update 8:55 AM 8. Legislative update 9:10 AM 9. Additional business 9:15 AM 10. Adjournment Member of ASSOCIATION OF FILM COMMISSIONERS INTERNATIONAL EXHIBIT "A" MINUTES OF REGULAR MEETING OF THE BOARD OF DIRECTORS OF WILMINGTON REGIONAL FILM COMMISSION, INC. A North Carolina Non-Profit Corporation The Wilmington Regional Film Commission, Inc. (WRFC) held a regular meeting at 8:30 AM, on January 13, 2026. Chairman Hank Miller, Vice-Chairman Sabrina Davis, Mr. Kirk Englebright, Ms. Judy Girard, and Honorable Bill Rivenbark, and were present. Honorable Bill Saffo and Mr. Michael Scott joined by video conference. In addition, Commission staff members Mr. Johnny Griffin and Ms. Megan Henry were present. Tim Buckland (Director of Intergovernmental Affairs for New Hanover County), and Tom Fetzer (lobbyist) were also present. 1. APPROVAL OF MINUTES FROM MEETING ON OCTOBER14 22 The minutes from the Board Meeting on October 14, 2025, a copy of which is attached as EXHIBIT A,were unanimously approved. 2. PRESENTATION BY LOBBYIST TO FETZER WITH FETZER STRATEGIC PARTNERS . Mr. Tom Fetzer gave a presentation on lobbying efforts during 2025. He also discussed plans for lobbying efforts during 2026 to seek improvements to the NC Film Grant. 3. CONSIDERATION OF CONTRACT WITH FETZER STRATEGIC PARTNERS FOR LOBBYING SERVICES DURING 2026. A contract with Fetzer Strategic Partners for lobbying services during 2026, a copy of which is attached as EXHIBIT B, was unanimously approved. 4. ACKNOWLEDGEMENT OF APPOINTEES OF DARK HORSE STAGES AND CINESPACE STUDIOS BEGINNING NEW TERMS EFFECTIVE JANUARY 2026. It was acknowledged that Dark Horse Studios has appointed Mr. Kirk Englebright and Cinespace Studios has appointed Mr. Michael Scott, Jr. as their respective representatives to the Commission for three year terms beginning in January 2026. 5. ELECTION OF OFFICERS OF THE CORPORATION FOR 2026. The following individuals were unanimously elected as officers of the corporation for 2026: Mr. Hank Miller (Chairman), Ms. Sabrina Davis (Vice Chairman), and Mr. Johnny Griffin (Secretary/Treasurer). 6. PRODUCTION UPDATE. Mr.Johnny Griffin stated that there is currently a television series filming, "RJ DECKER". It will be filming until March / April. In February, the television series,"THE SUMMER I TURNED PRETTY'will return to compete the series by filming a movie. Production levels nationwide remain low; however, there are signs that it may begin to improve in early 2026. There being no further business, the meeting was adjourned at 9:45 A.M. Respectfully Submitted, Mr. Hank Miller, Chairperson Goodson & Taylor, CPAs EXHIBIT 111311 Clement Goodson, CPA Lynn Taylor, CPA 763 S. Kerr Ave Wilmington, NC 28403 Phone 910-392-4650 Fax 910-392-3240 April 30, 2026 Mr. Johnny Griffin Wilmington Regional Film Commission 1223 No 23rd Street Wilmington,NC 28405 Dear Mr. Griffin: We are pleased to conf rm.our understanding of the services we will be providing for the Wilmington Regional Film Commission, for the year ended June 30, 2026. We will audit the statement of financial position of Wilmington Regional Film Commission, as of June 30, 2026, and the related statements of activities, functional expenses, and cash flows for the year then ended. The objective of our auditis the expression of an opinion about whether your financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles and to report on the fairness of the additional information referred to in the first paragraph when considered in relation to the financial statements taken as a whole. We will conduct our audit in accordance with U.S. generally accepted auditing standards and will include tests of the accounting records of Wilmington Regional Film Commission and other procedures we consider necessary to enable us to express an opinion that the financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles. If our opinion is other than unqualified,we will fully disc-Liss the reasons with you in advance. If, for any reason, we are unable to complete the audit engagement,we will not issue a report as a result of this engagement. As part of our audit, we will obtain an understanding of the organization's internal control to plan -- the audit and to determine the nature,timing, and extent of auditing procedures necessary for expressing our opinion concerning the financial statements. Our audit is not designed to provide assurance on internal control or to identify reportable conditions. However, we will inform the Board or the Audit Committee of any matters involving internal control and its operation that we consider reportable conditions*under standards established by the American Institute of Certified Public Accountants. The management of Wilmington Regional Film Commission is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by the management are required to assess the expected benefits and related costs of internal control policies and procedures. The objectives of internal control are to provide management with reasonable, but not absolute, assurances that assets are safeguarded against loss from unauthorized use or disposition,that transactions are executed in accordance with management's authorizations and recorded properly to permit the preparation of financial statements in accordance with U.S. generally accepted accounting principles. Management's responsibility includes the establishment and maintenance of adequate records and effective internal controls over financial reporting and compliance,the selection and application of accounting principles, and the safeguarding of assets. Management is responsible for adjusting the financial statements to correct material misstatements and for confirming to us in the management representation letter that the effects of any uncorrected misstatements aggregated by us during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken as a whole. We understand that you will provide us with the basic information required for our audit and that you are responsible for the accuracy and completeness of that information. We will advise you about appropriate accounting principles and their application and will assist in the preparation of your financial statements, but the responsibility for the financial statements remains with you. This responsibility includes maintaining adequate records and related internal control policies and procedures, selecting and applying accounting principles, accepting actuarial methods and assumptions used by the actuary, and safeguarding assets. Management is also responsible for identifying and ensuring the organization complies with applicable laws and regulations. As part of our engagement,we may also propose standard, adjusting, or correcting journal entries to your financial statements. Management,however, has final responsibility for reviewing the proposed entries and understanding the nature and impact of the proposed entries to the financial statements. It is our understanding that management has designated qualified individuals with the necessary expertise to be responsible and accountable for overseeing the services performed as part of this engagement. Our procedure will include tests of documentary evidence supporting the transactions recorded in the accounts,may include tests of the physical existence of inventories, and will include direct confirmation of receivables and certain other assets and liabilities by correspondence with selected funding sources, creditors, and financial institutions. We will request written representations from your attorneys as part of the engagement, and they may bill you for responding to the inquiry. At the conclusion of our audit, we will also request certain written representation from you about the financial statements and related matters. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. Also,we will plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether from 5/1/269:04AM Wilmington Regional Film Commission, Inc. EXHIBIT 11U Proposed Budget for 2026 - 2027 a/o 4/28/26 Jul'26-Jun'27 Income 4010•City of Wilmington 146,315.00 4011 - New Hanover County 168,446.00 4012- Memberships 40,000.00 4016- Interest Income 10,200.00 Reserve 21,358.00 Total Income 386,319.00 Expense 5010-Salaries 167,000.00 5011 •Payroll Taxes 15,030.00 5012-Car Rental Expense 9,700.00 5013-Retirement 13,500.00 5014- Insurance-Employee 29,608.00 5015-Insurance-Workman's Comp 1,200.00 5016• Insurance-Auto 0.00 5017-Insurance-Liability 3,400.00 5021 • Membership Drive 2,000.00 5022•Communications/Postage 1,300.00 5023- Promotion/Travel/Conference 7,000.00 5024-Copier Rental 1,850.00 5025.On-line services 2,700.00 5028• Equipment 1,000.00 5029-Office Supplies 1,000.00 5031 •Rent 19,131.00 5032-Marketing 25,000.00 5033-Property Insurance 2,000.00 5034. Location Scouting 3,000.00 5035- Policy Board 2,000.00 5036-Accounting 5,300.00 5037• Bank Fees 100.00 5039-Income Taxes 0.00 5043-Reel-Scout Lease 15,500.00 5048-Consulting Services 55,000.00 5050•Contingency 3,000.00 Reserve 0.00 Total Expense 386,319.00 Page 1 of 1