HomeMy WebLinkAbout2015-06-10 MinutesCITY OF
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Members Present:
AUDIT COMMITTEE
June 10, 2015
1:00 P.M.
City Hall — Room 326
Alderman Matthew Petty
David Mosley, CPA
Jacob Pesicek
City Staff Present: Paul A. Becker, Finance and Internal Services Director
Marsha Hertweck, Accounting Director
Trish Leach, Accounting Manager — Payroll and Pension
Shelly Turberville, Accounting Manager — Investments and Cash
Leslie Smith, Internal Auditor
1. Call to Order: The meeting was called to order at 1:00 p.m. by Leslie Smith.
MINUTES
2. Establishment of Quorum: Alderman Matthew Petty, David Mosley, Jacob Pesicek
3. Approval of Minutes: The minutes of the February 11, 2015 audit committee meeting
were approved by all committee members present. Approved minutes are posted on the
City's website on the audit committee page.
4. Approval of Agenda: The agenda for the meeting was approved by all committee
members present.
S. Reports Presented: Leslie Smith presented the 2014 Inventory Physical Count Report
which was approved by all committee members present.
6. New Business:
• Election of Committee Chair: Member Matthew Petty made a motion to
nominate David Mosley as Chair of the Audit Committee. Member
Pesicek seconded the motion. Motion passed by all committee member
present.
• Discussion of Whistleblower Policy: Following discussion, Chair David
Mosley agreed to formulate a proposed policy and bring to next audit
committee meeting. No action taken.
• Proposed Meeting Dates for 2015: Chair David Mosley asked Internal
Auditor Leslie Smith to propose meeting dates for the remainder of 2015.
No action taken.
• Pre -audit Meeting with External Auditors: Chair David Mosley
proposed that prior to the next annual audit, external auditors meet with
members of the audit committee. No action taken.
Mailing Address:
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701
(Dan Barron — Partner with Grant/Thornton arrived at the meeting at 1:20 p.m.)
(Alderman Petty left the meeting at 1:22 p.m.)
7. Presentation of the audit of the 2014 Consolidated Annual Financial Report
(CAFR) — Dan Barron from Grant/Thornton presented the overview of the audit report
and answered questions posed by the committee. Dan also thanked the Accounting
Dept. staff for all of their work in putting the CAFR together.
8. Adjournment Time: The meeting was adjourned at 2:12 p.m.
9. Submitted by: Leslie Smith — Internal Auditor.