HomeMy WebLinkAbout4.2 Appointments to the City Council 2022 Ad-Hoc Audit Review CommitteeSTAFF REPORT
CITY COUNCIL
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Agenda Item 4.2
DATE:July 19, 2022
TO:Honorable Mayor and City Councilmembers
FROM:Linda Smith, City Manager
SUBJECT:Appointments to the City Council 2022 Ad-Hoc Audit Review CommitteePrepared by: Lisa Hisatomi, Director of Administrative Services
EXECUTIVE SUMMARY:The City’s independent auditor, Badawi and Associates, has commenced the field work necessary to complete the Annual Comprehensive Financial Report for year ending June 30, 2022. The City Council will consider the establishment of an Ad-Hoc Committee, comprising two City Councilmembers, who will review the audit process and final report with the auditors.
STAFF RECOMMENDATION:Confirm the Mayor’s recommendation of Councilmembers Hu and McCorriston as the 2022 Ad-Hoc Audit Review Committee.
FINANCIAL IMPACT:The cost of the audit was included in the Fiscal Year 2022-23 adopted budget.
DESCRIPTION:The independent auditors from the firm of Badawi and Associates are required to follow protocols established by the Governmental Auditing Standards Board and issue their directives in documents referenced as the Statement on Accounting Standards, which are applicable to both private and governmental entities.These standards require that the auditors communicate directly with those charged with governance. The Ad-Hoc Audit Review Committee, comprising two Councilmembers 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 Committee comprised Mayor Hernandez and Councilmember McCorriston. Mayor Hernandez has recommended the appointment of Councilmembers Hu and McCorriston to serve
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as the 2022 Ad-Hoc Audit Review Committee.
STRATEGIC PLAN INITIATIVE:None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:The City Council Agenda was posted.
ATTACHMENTS:None.
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