AC 01.27.25 AgendaCITY OF CUPERTINO
AUDIT COMMITTEE
AGENDA
10185 North Stelling Road, Quinlan Conference Room
Monday, January 27, 2025
3:30 PM
Amended Special Meeting
Amended at 4:08 p.m. on January 24, 2025 to change the regular meeting beginning at 4:00
p.m. to a special meeting beginning at 3:30 p.m. and to update Item#1 Attachment A.
SPECIAL MEETING
ROLL CALL
ORDERS OF THE DAY
APPROVAL OF MINUTES
1.Subject: Approve Minutes of Special Meeting on November 25, 2024
Recommended Action: Approve Minutes of Special Meeting on November 25, 2024
A - Draft Minutes
POSTPONEMENTS
ORAL COMMUNICATIONS
This portion of the meeting is reserved for persons wishing to address the Committee on any matter
within the jurisdiction of the Committee and not on the agenda. Speakers are limited to three (3)
minutes. In most cases, State law will prohibit the Commission from making any decisions with respect
to a matter not on the agenda.
Effective January 1, 2023, Government Code Section 65103.5 (SB 1214) limits the distribution of
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Audit Committee Agenda January 27, 2025
copyrighted material associated with the review of development projects. Members of the public wishing
to view plans that cannot otherwise be distributed under SB 1214 may make an appointment with the
Planning Division to view them at City Hall by sending an email to planning@cupertino .org. Plans
will also be made available digitally during the hearing to consider the proposal.
OLD BUSINESS
NEW BUSINESS
2.Subject: INFORMATIONAL ITEM Receive OPEB & Pension Section 115 Trust
Performance Report for Quarter Ending December 31, 2024
Recommended Action: Receive OPEB & Pension Section 115 Trust Performance Report
for Quarter Ending December 31, 2024
Presenter: PARS and US Bank
3:30(15)
A-OPEB Pension Section 115 Trust Performance Report for Quarter Ending December 31, 2024
3.Subject: INFORMATIONAL ITEM Receive the Internal Audit and Fraud, Waste, and
Abuse programs update
Recommended Action: Receive the Internal Audit and Fraud, Waste, and Abuse
programs update
Presenter: Moss Adams
3:45(10)
A-Internal Audit Status Report 01-22-25
4.Subject: INFORMATIONAL ITEM Receive the Treasurer's Investment Report for the
Quarter Ending December 31, 2024
Recommended Action: Receive the Treasurer's Investment Report for the Quarter
Ending December 31, 2024
Presenter: Jonathan Orozco, Finance Manager and Chandler
3:55(15)
Staff Report
A – Chandler Investment Report December 2024
B – Chandler Custodial Statement December 2024
C – PARS Pension and OPEB Account Statement December 2024
D – LAIF Account Statement December 2024
5.Subject: INFORMATIONAL ITEM Receive the proposed Audit Committee 2025
Schedule and Workplan
Receive the proposed Audit Committee 2025 Schedule and
Workplan
Presenter: Jonathan Orozco, Finance Manager
4:10(10)
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Audit Committee Agenda January 27, 2025
A-Proposed Audit Committee 2025 Schedule and Work Plan
STAFF AND COMMITTEE REPORTS
COMMITTEEMEMBER ATTENDANCE AT UPCOMING MEETINGS AND EVENTS
FUTURE AGENDA SETTING
ADJOURNMENT
In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend this
meeting who is visually or hearing impaired or has any disability that needs special assistance should
call the City Clerk's Office at 408-777-3223, at least 48 hours in advance of the meeting to arrange for
assistance. In addition, upon request in advance by a person with a disability, meeting agendas and
writings distributed for the meeting that are public records will be made available in the appropriate
alternative format.
Any writings or documents provided to a majority of the members after publication of the agenda will
be made available for public inspection. Please contact the City Clerk’s Office in City Hall located at
10300 Torre Avenue, Cupertino, California 95014, during normal business hours.
IMPORTANT NOTICE: Please be advised that pursuant to Cupertino Municipal Code section
2.08.100 written communications sent to the City Council, Commissioners or staff concerning a matter
on the agenda are included as supplemental material to the agendized item. These written
communications are accessible to the public through the City website and kept in packet archives. Do
not include any personal or private information in written communications to the City that you do not
wish to make public, as written communications are considered public records and will be made
publicly available on the City website.
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