HomeMy WebLinkAbout8.5 Ad Hoc Audit Review Appoint
STAFF REPORT CITY CLERK
File #310-60
CITY COUNCIL
DATE:September 4, 2012
TO:
Honorable Mayor and City Councilmembers
FROM:
Joni Pattillo, City Manager
SUBJECT:
Confirmation of Appointment of City Council 2012 Ad-Hoc Audit Review
Committee
Prepared by Paul S. Rankin, Administrative Services Director
EXECUTIVE SUMMARY:
The independent auditors from the firm of Maze and Associates have scheduled their field work
necessary to complete the Comprehensive Annual Financial Report (CAFR) for the year ending
June 30, 2012. The City Council will consider the establishment of an Ad Hoc Committee,
comprised of two City Council Members, to review the audit process and final report with the
Auditors.
FINANCIAL IMPACT:
The cost of the audit has been included in the City Council activity of the Fiscal Year 2012-2013
Budget.
RECOMMENDATION:
Staff recommends that the City Council confirm the Mayor’s appointment of Mayor Tim Sbranti
and Councilmember Don Biddle as the 2012 Ad-Hoc Audit Review Committee that will serve for
a limited time. The Committee will meet with the City Auditors to review and discuss the audit
report for the period ending June 30, 2012.
Submitted By Reviewed By
Administrative Services Director Assistant City Manager
DESCRIPTION:
The independent auditors from the firm of Maze and Associates are scheduled to begin the final
field work for the City Audit in mid-October. The Auditing Standards Board (ASB) establishes
required protocols to be followed by independent Auditors. This governing body issues their
directives in documents referenced as the Statement on Accounting Standards (SAS), which are
applicable to both private and governmental entities. These standards require that the Auditors
communicate directly with those charged with governance.
ITEM NO. 8.5
Page 1 of 2
Ad-Hoc Committee Requirements
In order to meet the obligations of various Audit pronouncements, Maze and Associates would
like to schedule a brief meeting with the designated Audit Sub-Committee, prior to beginning
their Field Work on October 15, 2012.
The subcommittee would also need to meet at the conclusion of the Audit work. This is
th
expected to occur early the week of November 26. After the Ad-Hoc Audit Review Committee
has had an opportunity to review and discuss the report with the Auditors, Staff will prepare an
agenda item for action by the entire City Council. The Comprehensive Annual Financial Report
(CAFR) would be presented at the City Council meeting on December 18, 2012.
Last year the Ad-Hoc Audit Review Committee was comprised of Vice Mayor Kevin Hart and
Councilmember Eric Swalwell. Mayor Sbranti has recommended the appointment of Mayor
Tim Sbranti and Councilmember Don Biddle to serve as the 2012 Ad-Hoc Audit Review
Committee.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
A copy of the Staff Report has been provided to Katherine Yuen, Partner, Maze and Associates.
ATTACHMENTS:
None
Page 2 of 2