HomeMy WebLinkAbout4.14 Appointments to the City Council 2023 Ad Hoc Audit Review CommitteeSTAFF REPORT
CITY COUNCIL
Page 1 of 2
Agenda Item 4.14
DATE:August 15, 2023
TO:Honorable Mayor and City Councilmembers
FROM:Linda Smith, City Manager
SUBJECT:Appointments to the City Council 2023 Ad Hoc Audit Review CommitteePrepared by:Jay Baksa, Finance Director
EXECUTIVE SUMMARY:The City’s independent auditor, Badawi and Associates, has commenced the field work necessaryto complete the Annual Comprehensive Financial Report for the year ending June 30, 2023. The City Council will consider the establishment of an Ad Hoc Committee comprising two members of the City Council, who will review the audit process and final report with the auditors.
STAFF RECOMMENDATION:Confirm the Mayor’s recommendation of Mayor Hernandez and Councilmember Qaadri as the 2023 Ad Hoc Audit Review Committee.
FINANCIAL IMPACT:The cost of the audit was included in the Fiscal Year 2023-24 Adopted Budget.
DESCRIPTION:The independent auditors from the firm of Badawi and Associates are required to follow protocolsestablished by the Governmental Auditing Standards Board and issue their directives indocuments referenced as the Statement on Accounting Standards, which are applicable to bothprivate and governmental entities.These standards require that the auditors communicate directly with those charged withgovernance. The Ad Hoc Audit Review Committee, which includes two members of the City Council appointed by the Mayor, is established each year for this purpose. After the 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 at a future meeting.Last year, the Ad Hoc Committee included Councilmembers Hu and Vice Mayor McCorriston. The
752
Page 2 of 2
Mayor has recommended the appointment of Mayor Hernandez and Councilmember Qaadri to serve as the 2023 Ad Hoc Audit Review Committee.
STRATEGIC PLAN INITIATIVE:None
NOTICING REQUIREMENTS/PUBLIC OUTREACH:The City Council Agenda was posted.
ATTACHMENTS:None.
753