AGENDA ITEM NO. 6
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AGENDA STAFF REPORT
City of West Covina | Office of the City Manager
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| DATE: | June 16, 2026 |
TO: |
Mayor and City Council |
FROM: |
Milan Mrakich, City Manager |
SUBJECT: |
AUDIT COMMITTEE UPDATE |
RECOMMENDATION:
It is recommended that the City Council receive and file this informational report.
BACKGROUND:
On February 3, 2026, the City Council adopted Resolution No. 2026-16, revising the Rules and Regulations. The revisions established that the Audit Committee shall hold one (1) regular meeting per quarter, scheduled for the fourth Wednesday of January, April, July, and October. Additionally, the revisions clarified the two-year appointment term for committee members.
DISCUSSION:
At the April 29, 2026, Audit Committee meeting, the Committee requested that the draft Annual Comprehensive Financial Report (ACFR) be provided for review. Additional information requested by the Committee includes:
- Purchasing Card Policy
- Purchasing Violation Log
- Year-to-date budget reports
LEGAL REVIEW:
The City Attorney's Office reviewed this staff report.
Prepared by:
Karen Ogawa, Finance Director
Additional Approval:
Roxanne E. Lerma, Assistant City Manager
Fiscal Impact
FISCAL IMPACT:
This agenda item is a receive and file; therefore, there is no fiscal impact with this action.
CITY COUNCIL GOALS & OBJECTIVES:
Achieve Fiscal Sustainability and Financial Stability
A Well-Planned Community
Enhance City Image and Effectiveness
A Well-Planned Community
Enhance City Image and Effectiveness