City Council Subcommittee: Audit Subcommittee Goodyear City Hall - La Jolla Vista Conference Room 1900 N. Civic Square Goodyear, AZ 85395 |
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CALL TO ORDER
Deputy Finance Director Jared Askelson called the meeting to order at 4:06 p.m.
Deputy Finance Director Jared Askelson called the meeting to order at 4:06 p.m.
ROLL CALL
- Present:
- Councilmember Sheri Lauritano; Councilmember Brannon Hampton; Councilmember Vicki Gillis
- Staff Present:
- Finance Director Doug Sandstrom; Deputy Finance Director Jared Askelson; Finance Manager-Financial Services Celina Morris; Assistant to the Council John Raeder
| PUBLIC COMMENTS |
No public present.
| BUSINESS |
1.
REVIEW OF AUDIT SUBCOMMITTEE RESPONSIBILITIES.
Deputy Finance Director Jared Askelson reviewed the responsibilities of the Audit Subcommittee for new members.
Deputy Finance Director Jared Askelson reviewed the responsibilities of the Audit Subcommittee for new members.
2.
DISCUSSION OF UPCOMING ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) AND AUDIT.
Finance Manager Celina Morris reviewed the FY2023 audit timeline with the committee and discussed what was included in the FY2023 annual audit. Councilmember Hampton asked if the scope of the audit included a review of the non-profit organizations who receive grants from the City, and whether the monies distributed are used for the intended purpose. Finance Manager Morris replied that it was outside of the scope of the audit. However, we would follow up with Christina Panaitescu, Grants and Neighborhood Services Supervisor, to let her know that the question was asked during the committee meeting.
Finance Manager Celina Morris reviewed the FY2023 audit timeline with the committee and discussed what was included in the FY2023 annual audit. Councilmember Hampton asked if the scope of the audit included a review of the non-profit organizations who receive grants from the City, and whether the monies distributed are used for the intended purpose. Finance Manager Morris replied that it was outside of the scope of the audit. However, we would follow up with Christina Panaitescu, Grants and Neighborhood Services Supervisor, to let her know that the question was asked during the committee meeting.
3.
AUDITOR'S COMMENTS AND/OR QUESTIONS.
Heinfeld Meech Auditor Jill Shaw discussed documentation, system access and the reporting process for the FY2023 ACFR audit plan. Auditor access will be granted into the city's financial system Tyler Munis. Auditor Jill Shaw explained that the general scope of an audit includes a risk assessment which covers topics such as internal controls, the risk of management override of key controls, a review of checks and balances, a review of key policies, revenue recognition, capital assets, lease liabilities, subscriptions agreements, and other areas. Councilmember Vickie Gillis asked for an overview of GASB (Government Accounting Standards Board). Auditor Jill Shaw explained how GASB governs local government accounting transactions and financial statements.
Heinfeld Meech Auditor Jill Shaw discussed documentation, system access and the reporting process for the FY2023 ACFR audit plan. Auditor access will be granted into the city's financial system Tyler Munis. Auditor Jill Shaw explained that the general scope of an audit includes a risk assessment which covers topics such as internal controls, the risk of management override of key controls, a review of checks and balances, a review of key policies, revenue recognition, capital assets, lease liabilities, subscription
4.
INPUT FROM AUDIT COMMITTEE ON THE UPCOMING AUDIT.
Committee members reviewed and discussed items they would like encompassed in this year's audit which included cash handling procedures, audit check for unauthorized p-card purchases, and contract review to make sure we are receiving all goods and services as agreed.
Deputy Finance Director Askelson reminded the committee that separate funding was set aside for review of contracts and the findings will be shared with the committee this year.
Committee members reviewed and discussed items they would like encompassed in this year's audit which included cash handling procedures, audit check for unauthorized p-card purchases, and contract review to make sure we are receiving all goods and services as agreed.
Deputy Finance Director Askelson reminded the committee that separate funding was set aside for review of contracts and the findings will be shared with the committee this year.
| INFORMATION ITEMS |
None.
| NEXT MEETING |
No future meetings are schedule at this time.
| ADJOURNMENT |
There being no further business to discuss, Deputy Finance Director Jared Askelson adjourned the meeting at 4:46 p.m.
Respectfully Submitted by:
Respectfully Submitted by:
Amie Gressett ______________ Amie Gressett, Management Assistant |
Doug Sandstrom ____________ Doug Sandstrom, Finance Director |
Date: 7/20/2023 |