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HomeMy WebLinkAboutAudit Committee - 2016CITY OF AUDIT COMMITTEE Special Meeting Meeting of February 22, 2016 Conference room A, City Hall 10300 Torre Avenue, Cupertino, CA CUPERTINO 3:00p.m. NOTICE AND CALL FOR SPECIAL MEETING NOTICE IS HEREBY GIVEN that a special meeting of the Audit Committee is hereby called for Monday, February 22, 2016, commencing at 3:00pm in City Hall Conference Room A, 10300 Torre Avenue, Cupertino, California. Said special meeting shall be for the purpose of conducting business on the subject matters listed below under the heading "Special Meeting". SPECIAL MEETING 1. CALL TO ORDER 2. ROLL CALL 3. APPROVAL OF MINUTES Approve Minutes of the special meeting of November 5, 2015 4. ORAL COMMUNICATIONS This portion of the meeting is reserved for persons wishing to address the committee on any matter not on the agenda. Speakers are limited to three (3) minutes per person. In most cases, state law will prohibit the committee from making any decision with respect to a matter not listed on the agenda. 5. NEW BUSINESS A. FY 2014-15 CAFR Review and Acceptance B. FY 2015-16 Mid -Year Budget Report C. OPEB Actuarial Valuation Report as of January 1, 2015 i. Letter Update of OPEB Actuarial Valuation Report (including additional contribution) D. Discuss governing code and City policies E. Annual approval of Investment Policy F. Annual approval of OPEB Trust Investment Policy G. FY 2016-17 Fee Study review H. Proposed Cost Allocation Plan review I. Confirm future committee meeting dates: i. Thursday, 4/14/2016 (quarters ending 12/31/2015 and 03/31/2016) ii. Thursday, 7/14/2016 iii. Thursday, 10/13/2016 6. OLD BUSINESS 7. STAFF AND COMMITTEE REPORTS 8. ADJOURNMENT Cupertino Audit Committee Page 2 In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend the next 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, 48 hours in advance of the meeting to arrange for assistance. 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. Also upon request, in advance, an assistive listening device can be made available for use during the meeting. Members of the public are entitled to address the members concerning any item that is described in the notice or agenda for this meeting, before or during consideration of that item. If you wish to address the members on any other item not on the agenda, you may do so _during the public comment portion of the meeting. Please limit your comments to three (3) minutes or less. STATE OF CALIFORNIA ) ) SS. COUNTY OF SAN.� CLAIRA ) I, Lu.f� �a,� � , AN EMPLOYEE OF TIDE CITY OF CUPER INO G (l.n, L D E,PA lRT- MENT, STATE UNDER PENALTY OF PERJURY THAT ON (DATE) 2 (TIME) 6 ; /'S Pin [ PEs St='N," 11_,t_Y POSTED THE NOT ICE%AUEN DA Oi'wi BULLETIN BOARD AT CITY-• V— DATE CITY OF AUDIT COMMITTEE Special Meeting Meeting of March 21, 2016 Conference room A, City Hall 10300 Torre Avenue, Cupertino, CA CUPERTINO 3:00p.m. NOTICE AND CALL FOR SPECIAL MEETING NOTICE IS HEREBY GIVEN that a special meeting of the Audit Committee is hereby called for Monday, March 21, 2016, commencing at 3:00pm in City Hall Conference Room A, 10300 Torre Avenue, Cupertino, California. Said special meeting shall be for the purpose of conducting business on the subject matters listed below under the heading "Special Meeting". SPECIAL MEETING 1. CALL TO ORDER 2. ROLL CALL 3. APPROVAL OF MINUTES Approve Minutes of the special meetings of November 5, 2015 and February 22, 2016 4. ORAL COMMUNICATIONS This portion of the meeting is reserved for persons wishing to address the committee on any matter not on the agenda. Speakers are limited to three (3) minutes per person. In most cases, state law will prohibit the committee from making any decision with respect to a matter not listed on the agenda. 5. NEW BUSINESS A. Appoint Committee Chair and Vice Chair B. FY 2014-15 CAFR Review and Acceptance C. Annual approval of Investment Policy D. Annual approval of OPEB Trust Investment Policy 6. OLD BUSINESS A. OPEB Actuarial Valuation Report as of January 1, 2015 7. STAFF AND COMMITTEE REPORTS In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend the next 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, 48 hours in advance of the meeting to arrange for assistance. 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. Also upon request, in advance, an assistive listening device can be made available for use during the meeting. Cupertino Audit Coininittee Page 2 Members of the public are entitled to address the members concerning any item that is described in the notice or agenda for this meeting, before or during consideration of that item. If you wish to address the members on any other item not on the agenda, you may do so during the public comment portion of the meeting. Please limit your comments to three (3) minutes or less. STATE OF CA L I F 0 F. NT IA 13S COUNTY OF SAi-Ij- A N EIN"Ifl.'LOYEE OF -F, k- T T F'L P POSTED THIE BULLETIN BC DAf E CITY OF AUDIT COMMITTEE Special Meeting Meeting of April 14, 2016 Conference Room EOC, City Hall 10300 Torre Avenue, Cupertino, CA CUPERTINO 3:00 p.m. NOTICE AND CALL FOR SPECIAL MEETING NOTICE IS HEREBY GIVEN that a special meeting of the Audit Committee is hereby called for Thursday, April 14, 2016, commencing at 3:00pm in City Hall Conference Room EOC,10300 Torre Avenue, Cupertino, California. Said special meeting shall be for the purpose of conducting business on the subject matters listed below under the heading "Special Meeting". SPECIAL MEETING 1. CALL TO ORDER 2. 3:00 p.m. - ROLL CALL 3. 3:05 p.m. - APPROVAL OF MINUTES Approve Minutes of the special meeting of March 21, 2016 4. 3:10 p.m. - ORAL COMMUNICATIONS This portion of the meeting is reserved for persons wishing to address the committee on any matter not on the agenda. Speakers are limited to three (3) minutes per person. In most cases, state law will prohibit the committee from making any decision with respect to a matter not listed on the agenda. 5. 3:15 p.m. - NEW BUSINESS A. Review of Retiree Health Trust Performance Report —15 minutes B. Annual approval of OPEB Trust Investment Policy —15 minutes C. Review of Progress on Uncompleted Action Items from Previous Meetings and Standard Work Plan for Audit Committee (handouts in meeting) — 20 minutes • Process to add, remove or edit items on document D. Pass a motion to change regular meeting start times to 3:00 p.m., City Hall, Conference Room A — 5 minutes E. Annual approval of City Investment Policy —15 minutes F. Treasurer's Investment Report for Quarters ending December 31, 2015, and March 31, 2016 — 20 minutes Discussion on adding "duration" to the Treasurer's Report 6. 4:45 p.m. - OLD BUSINESS A. OPEB Actuarial Valuation Report as of January 1, 2015 —15 minutes i. Letter Update of OPEB Actuarial Valuation Report (including additional contribution) 7. STAFF AND COMMITTEE REPORTS Cupertino Audit Committee Page 2 None 8. 5:00 p.m. - ADJOURNMENT In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend the next 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, 48 hours in advance of the meeting to arrange for assistance. 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. Also upon request, in advance, an assistive listening device can be made available for use during the meeting. Members of the public are entitled to address the members concerning any item that is described in the notice or agenda for this meeting, before or during consideration of that item. If you wish to address the members on any other item not on the agenda, you may do so during the public comment portion of the meeting. Please limit your comments to three (3) minutes or less. L ut' l AL1 i S. c0; f1 i I'YAN �) CUPS °r�Tlr?O PEN LTY si.Y THAT tl. ; �l Z l - - ..€ E� P f rlsJfl TIiF I .-.E,'-''CENDA ON THE BULLETIN BOARD A -I' CITY HALL. DATE ,�,IGii yUIZE CITY OF AUDIT COMMITTEE Meeting of July 14, 2016 Conference Room C, City Hall 10300 Torre Avenue, Cupertino, CA CUPERTINO 3:00 p.m. AGENDA 1. CALL TO ORDER 2. 3:00 p.m. - ROLL CALL 3. 3:05 p.m. - APPROVAL OF MINUTES Approve Minutes of the special meetings of March 21, 2016, and April 14, 2016. Versions with tracked changes are attached. 4. 3:10 p.m. - ORAL COMMUNICATIONS This portion of the meeting is reserved for persons wishing to address the committee on any matter not on the agenda. Speakers are limited to three (3) minutes per person. In most cases, state law will prohibit the committee from making any decision with respect to a matter not listed on the agenda. 5. 3:15 p.m. - NEW BUSINESS A. PARS Annual presentation on Retiree Health Trust Performance — 20 minutes B. Review and recommend budget format improvements — 20 minutes i. Budget -at -a -Glance (existing) ii. Status on Actuals Incorporated into OpenGov 1. Budget -to -Actual graphic (proposed) C. Internal Controls and MOIC discussion — 30 minutes i. Findings and Recommendations ii. Hiring additional staff with strong governmental accounting knowledge iii. Staff training in technical governmental accounting and cross training iv. Retainer deposits payable should be monitored more closely and with better coordination v. Status on Interim Audit and Final Audit D. Review of Progress on Uncompleted Action Items from Previous Meetings and Standard Work Plan for Audit Committee — 5 minutes E. Treasurer's Investment Report for Quarter Ending June 30, 2016 —1 S minutes 6. 4:45 p.m. - OLD BUSINESS None 7. STAFF AND COMMITTEE REPORTS None Cupertino Audit Committee Page 2 8. 5:00 p.m. - ADJOURNMENT In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend the next 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, 48 hours in advance of the meeting to arrange for assistance. 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. Also upon request, in advance, an assistive listening device can be made available for use during the meeting. Members of the public are entitled to address the members concerning any item that is described in the notice or agenda for this meeting, before or during consideration of that item. If you wish to address the members on any other item not on the agenda, you may do so during the public comment portion of the meeting. Please limit your comments to three (3) minutes or less. AN a_ c iE l•. P y OF ZQlh- I � � EZ,jr).A 0 N `3 I' CITY 4� LLETIN Or> CITY OF AUDIT COMMITTEE Special Meeting Meeting of October 13, 2016 Conference Room EOC, City Hall C U P E RT I N O 10300 Torre Avenue, Cupertino, CA 3:01 p.m. NOTICE AND CALL FOR SPECIAL MEETING NOTICE IS HEREBY GIVEN that a special meeting of the Audit Committee is hereby called for Thursday, October 13, 2016, commencing at 3:01pm in City Hall Conference Room EOC, 10300 Torre Avenue, Cupertino, California. Said special meeting shall be for the purpose of conducting business on the subject matters listed below under the heading "Special Meeting". STATE OF CAL1F-(-) SPECIAL MEETING i,Y CI — AGENDAAN Ev,'P.LGYEE OF T7—`t ()F CUP'_,, r�;O 1. CALL TO ORDER _ C', i.. _ D z,,, , ST/YFEALT'i OF 2. 3:01 p.m. — ROLL CALL Fi-'.R,�'_ RY THAT : fE) z (Flr'j :7 BOA, f I'sf'r ,l ..'.'_�' 3. 3:05 p.m. - APPROVAL OF MINUTES POSTED THE _.,,i,J; 1y)AN Ii. 11 BULLETIN BOA sZL) AT CITY HALL. Approve minutes of the regular meeting of July 14, 2016 z 4. 3:10 p.m. - ORAL COMMUNICATIONS n ""T E VSidi i u1:F, This portion is reserved for persons wishing to address the committee on any matter not on the agenda. Speakers are limited to three (3) minutes per person. Inmost cases, state law will prohibit the committee from making any decision with respect to a matter not listed on the agenda. 5. 3:15 p.m. - NEW BUSINESS A. Review of FY2015-16 Interim Audit with Maze —10 minutes B. Status on FY2015-16 yearend close with staff — 50 minutes C. Review of Progress on Uncompleted Action Items from Previous Meetings —15 minutes D. Treasurer's Investment Reports for QE June 30 and September 30, 2016 —15 minutes E. Overview of Auditor RFP process — 5 minutes 6. 4:50 p.m. - OLD BUSINESS None 7. STAFF AND COMMITTEE REPORTS None 8. 5:00 p.m. - ADJOURNMENT In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend the next 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, 48 hours in advance of the meeting to arrange for assistance. Upon request, in advance, by a person with a disability, Cupertino Audit Committee Page 2 meeting agendas and writings distributed for the meeting that are public records will be made available in the appropriate alternative format. Also upon request, in advance, an assistive listening device can be made available for use during the meeting. Members of the public are entitled to address the members concerning any item that is described in the notice or agenda for this meeting, before or during consideration of that item. If you wish to address the members on any other item not on the agenda, you may do so during the public comment portion of the meeting. Please limit your comments to three (3) minutes or less. CITY OF AUDIT COMMITTEE Special Meeting Meeting of November 9, 2016 Conference Room EOC, City Hall C U P E RT I N O 10300 Torre Avenue, Cupertino, CA 3:30 p.m. NOTICE AND CALL FOR SPECIAL MEETING NOTICE IS HEREBY GIVEN that a special meeting of the Audit Committee is hereby called for Wednesday, November 9, 2016, commencing at 3:30pm in City Hall Conference Room EOC, 10300 Torre Avenue, Cupertino, California. Said special meeting shall be for the purpose of con uctinn.2 business on the subject matters listed below under the heading "Special Meeting". 9 A i E OF CALIFO I ; IA SPECIAL MFF.TTNCT ) SS. CG!U!\AT 1TY OF SANTA CLARA ) AGENDA.-;; ; i e w , AN O1 , OF ifi CITY OF CUPERTINO --._ WcI— DEPART 1. CALL TO ORDER ; ST "�"I E `d I� I R PENALTY OF r`•.Y THAT O1 IDATE) <, 2. 3:30 p.m. -ROLL CALL Z, 2 f,, I PERSIO( ITALLY THE i\;L,'i,._:F-,.', _GFNDA ON T?IE LU-LLriIN P0f%_ D AT CITY HALL. 3. 3:32 p.m. - ORAL COMMUNICATIONS This portion is reserved for persons wishing tb-address the committee on an�lhirit�tiKnofw the agenda. Speakers are limited to three (3) minutes per person. In most cases, state law will prohibit the committee from making any decision with respect to a matter not listed on the agenda. 4. 3:35 p.m. - NEW BUSINESS A. Auditor Procurement Process — SS minutes 5. 4:30 p.m. - ADJOURNMENT In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend the next 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, 48 hours in advance of the meeting to arrange for assistance. 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. Also upon request, in advance, an assistive listening device can be made available for use during the meeting. Members of the public are entitled to address the members concerning any item that is described in the notice or agenda for this meeting, before or during consideration of that item. If you wish to address the members on any other item not on the agenda, you may do so during the public 'comment portion of the meeting. Please limit your comments to three (3) minutes or less.