City Council Subcommittee: Audit Subcommittee Goodyear City Hall - Conference Room Civic Square, 4th Floor 1900 N. Civic Square Goodyear, AZ 85395 |
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CALL TO ORDER
Deputy Director of Finance called the meeting to order at 4:01 p.m.
Deputy Director of Finance called the meeting to order at 4:01 p.m.
ROLL CALL
- Present:
- Councilmember Sheri Lauritano; Councilmember Brannon Hampton; Councilmember Patrick Bray
- Staff Present:
- Finance Director Doug Sandstrom; Deputy Director of Finance Jared Askelson; Finance Manager, Financial Services Celina Morris; Finance Management Assistant Amie Gressett; Assistant to the City Council John Raeder
- Attendees:
- Crimson Singleton, Hinton Burdick Auditor, McKay Hall, Hinton Burdick Auditor
| PUBLIC COMMENTS |
No members of the public present.
| BUSINESS |
1.
Discussion of Upcoming Annual Comprehensive Financial Report (ACFR) and Audit
Deputy Director of Finance, Jared Askelson discussed the change in State statute now in effect requiring auditors to appear in person when presenting the Final Annual Comprehensive Financial Report to Council.
The committee was briefed on the findings of the FY2022 Annual Comprehensive Financial Report (ACFR) as follows:
1. Independent Auditors’ Report
Deputy Director of Finance, Jared Askelson discussed the change in State statute now in effect requiring auditors to appear in person when presenting the Final Annual Comprehensive Financial Report to Council.
The committee was briefed on the findings of the FY2022 Annual Comprehensive Financial Report (ACFR) as follows:
1. Independent Auditors’ Report
- Unmodified opinion (clean audit)
- No significant deficiencies or material weaknesses
- Complied, in all material respects
- Complete, no issues
- Underway
2.
Auditors' Comments and/or Questions
Auditor McKay Hall commended the Finance department for a job well done in preparing for this year's audit.
Auditor Crimson Singleton gave an overview on the audit process and findings for
Council members discussed with the auditors and staff, the processes for tracking Inventory; the timeline for Council presentations on the Impact Fee Audit which is currently underway; fraud procedures currently used, and the formal procedures currently be drafted by the city's I.T. department.
Auditor McKay Hall commended the Finance department for a job well done in preparing for this year's audit.
Auditor Crimson Singleton gave an overview on the audit process and findings for
- Purchasing cards
- Employee overtime
- Inventory
- Impact Fee expenditures and fraud risk management
Council members discussed with the auditors and staff, the processes for tracking Inventory; the timeline for Council presentations on the Impact Fee Audit which is currently underway; fraud procedures currently used, and the formal procedures currently be drafted by the city's I.T. department.
3.
Discussion of Special Audit Issues and Input from Audit Committee
Special Audit Issues discussed were as follows:
1. Fund deficits in two impact fee funds
2. Grant Fund deficit and revenue recognition
3. Budgeted deficits and need for formal practice of updating revenue budgets
4. Fraud Risk Management
Special Audit Issues discussed were as follows:
1. Fund deficits in two impact fee funds
2. Grant Fund deficit and revenue recognition
3. Budgeted deficits and need for formal practice of updating revenue budgets
4. Fraud Risk Management
4.
Discussion of Project Reviews
The committee members and staff discussed the contract being finalized with Protivity to begin additional internal auditing of items such as the City's contracting procedures.
Deputy director Jared Askelson noted to the committee that funding of $100,000 was approved in the FY2023 Budget for this purpose.
The committee members and staff discussed the contract being finalized with Protivity to begin additional internal auditing of items such as the City's contracting procedures.
Deputy director Jared Askelson noted to the committee that funding of $100,000 was approved in the FY2023 Budget for this purpose.
| INFORMATION ITEMS |
Comments, Commendations, Report on Current Events and Presentations by Board, Commission or Committee Members, staff or members of the public. The members may not propose, discuss, deliberate or take any legal action on the information presented pursuant to A.R.S. § 38-431.02.
None.
| NEXT MEETING |
The next meeting of the City Council: Audit Subcommittee has not yet been determined.
| ADJOURNMENT |
There being no further business to discuss, Deputy Director of Finance, Jared Askelson adjourned the meeting at 4:33 p.m.
Respectfully Submitted by:
Respectfully Submitted by:
| Amie Gressett Amie Gressett, Management Assistant |
__________________________ Doug Sandstrom, Finance Director |
Date:___________________ |