HomeMy Public PortalAbout20120321AuditMinutes.pdfAudit Committee Meeting Minutes
March 21, 2012
Chairman Alfie Waite called the meeting to order at 10:10 am. In attendance were committee
members: Dick Smith, Bill Blakey, Jan Fox; city finance director: Mary Hogan: and council liason Tom
Groover.
The January 20, 2012 meeting minutes were approved.
The committee discussed recruiting new members for the committee as two members had resigned.
The proposals from the outside auditing firms were discussed. Mary had checked references and all
were glowing. The City's audit schedule worked for all the firms without adjustment. There were no
conflicts from the DCA or Office of Audits and Accounts. McNair stated the audit may exceed five
months. Baird projected a five week to sixty day turnaround. A recommendation (based on strength
in municipal work, cost, hourly rate & structure and distance to travel) was made and agreed upon.
The votes as follows:
Smith Blakey Waite
Baird 1st 1st 1st
McNair 2nd 2nd 2nd
Geer 3rd 3rd 3rd
Clifton 4th
Jan Fox did not vote as she had been out of town and not reviewed the proposals. Mary Hogan had the
recommendation on the next agenda and will submit the committee's recommendation.
A proposal carried unanimously to amend the by-laws as follows:
TYBEE ISLAND AUDIT COMMITTEE
AMENDMENT TO BYLAWS
WHEREAS, following notice as required by Article 5, Section 2, to all members of the Audit
Committee; and
WHEREAS, the Audit Committee met and determined that an amendment to the Bylaws is appropriate;
and
WHEREAS, the members of the Audit Committee passed the following motion: The Bylaws shall be
amended so as to amend Article II, Meetings of the Members, Section 2, Annual Meeting, so that hereafter such
provisions shall read:
Section 2. Annual Meeting: Annual meetings of the members may be held at any other special
or regular meetings of the Committee. The terms of officers of the Committee shall continue
until an annual meeting is called which shall be held no later than June of each calendar year. At
each such annual meeting, the members shall, by a majority vote, elect officers.
THIS 21st day of March, 2012.
Audit Committee Meeting Minutes page 2
March 21, 2012
A proposal to send additional changes to the city attorney passed unanimously. The proposed changes
are:
Section 1 – required quarterly meetings changed to meetings should generally take place on a
quarterly basis but there is no strict requirement for a minimum of four meetings a year.
Section 5 – as the council has a liaison to the committee the Chairman being the liaison should
be struck.
Officers for 2012 are:Alfred Waite Chairman
Dick Smith Vice-chair
Jan Fox Secretary
The committee discussed the focus of the exit meeting with the new audit firm. It was agreed that the
committee would meet with the auditors without staff and would like to review the management letter
prior to that meeting.
Alfie Waite will schedule the required report to council.
Vote to adjourn was unanimous.
Alfred Waite, Chairman
Jan Fox, Secretary