HomeMy Public PortalAboutAudit Standing Committee - Minutes - 2017-05-26
AUDIT STANDING COMMITTEE MEETING
REGULAR MEETING
TEMPLE CITY, CALIFORNIA
MAY 26, 2017
1. CALL TO ORDER
Chairperson, Councilmember Yu called the Audit Standing Committee meeting to
order at 2:00 p.m.
2. ROLL CALL
PRESENT: Councilmember Yu
Councilmember Chavez
ABSENT: None
ALSO PRESENT: City of Temple City:
Bryan Cook, City Manager
Tracey Hause, Administrative Services Director
Lee Ma, Accountant
3. PUBLIC COMMENTS – None
A. APPROVAL OF MINUTES
The Audit Standing Committee is requested to review and approve the Minutes
of the March 17, 2017.
Action: Approved.
4. NEW BUSINESS –
A. Accounting Procedures
Staff will provide and verbal update on revised quarterly and year end accounting
procedures.
Administrative Services Director Hause gave an update on on-going accounting
procedure improvements.
Action: Received verbal update.
B. Update of Actuarial Other Post-Employment Benefits
Audit Standing Committee Minutes
May 26, 2017
Page 2 of 2
Staff must implement GASB 75, Reporting of Other Post-Employment Benefits in
the Comprehensive Annual Financial Statements (CAFR) by June 30, 2018.
Administrative Services Director Hause provided an update on the
implementation of GASB 75, Reporting of Other Post-Employment Benefits in the
Comprehensive Annual Financial Statement (CAFR) by June 30, 2018.
Action: Received verbal update.
6. OTHER UPDATES FROM THE ADMINISTRATIVE SERVICES – None
7. PUBLIC COMMENTS – None
8. SCHEDULE NEXT MEETING DATE
The next meeting has been scheduled for August 18, 2017 at 2:00 pm as a
Special Audit Standing Committee Meeting. The regular Standing Committee
meeting on August 25, 2017 will be cancelled.
9. ADJOURNMENT
Audit Standing Committee Meeting was adjourned at 2:30 p.m.
ATTEST:
Tracey L. Hause, Administrative Services Director