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HomeMy Public PortalAbout20071008AuditMinutes.pdfTybee Island Audit Committee Minutes October 8, 2007 Meeting called to order by Sam Adams at 4:05 pm Members present: Sam Adams, James Anderson, David Birdwell, Susan Off Motion made by David and second by Jim to approve September minutes. All approved, Since John Redmond was unable to attend our meeting due to a scheduling conflict, Sam asked John for a written response to the financial statement, budget overruns, and budget shortfalls. See attached written response. Committee reviewed September financials and Sam was to ask John the following question: Why is water revenue income down? Also Sam is to ask John to update the committee on the new parking machines and VOIP at our November meeting. Sam reviewed sections 3 and 4 of the GFOA publication, “Audit Committees”. He also gave us a synopsis of the answers to questions 9 through 18. As a result of our discussion, Sam will make John Redmond aware that the Audit Committee will exercise its option to review the internal auditor’s work plan. Sam will also talk with city attorney, Bubba Hughes, regarding a GFOA recommendation to amend the sunshine law exclusions to allow the audit committee to hold private meetings, as necessary, with the independent auditors. Sam reported that he made a recommendation to City Council at the September 27, 2007 meeting to extend the independent audit contract with Maudlin and Jenkins for two years. The audit will cost $19,000 and the E911 audit will be between $4,000 and $5,000. Council unanimously approved this recommendation. Sam will contact Maudlin and Jenkins to notify them of the city’s acceptance and approval. Sam did speak to the audit company and found out that we can keep the E911 cost at the $4,000 level if we can provide an orderly accounting of the fund. The Audit Committee will put out a RFP in time for the 2009 audit. Sue reported that the revised Ethics Ordinance was passed unanimously at the September 27, 2007 City Council meeting. The next meeting of the Audit Committee will be Monday, November 12, 2007 at 4 pm. Sam will request a meeting room. Meeting adjourned 5:25 pm. Respectfully submitted, Susan Off Attachment