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Home My WebLink AboutAudit Committee - 2021STATE OF CALIl'ORNIA 4:00 PM- till SpecialMla SiGNATURE TELECONFERENCE / PUBLIC PARTICIPATION INFORMATION TO HELP STOP THE SPREAD OF COVID-19 In accordance with Government Code 54953(e), this will be a teleconference meeting without a physical location to help stop the spread of COVID-19. Members of the public wishing comment on an item on the agenda may do so in the following ways: 1) E-mail comments by 2:00 p.m. on Monday, November 15 to the Audit Committee at AuditCommittee@cupertino.org. These e-mail comments will be received by the Audit Committee members before the meeting and posted to the City's website after the meeting. 2) E-mail comments during the times for public comment during the meeting to the Audit Committee at AuditCommittee@cupertino.org. The staff liaison will read the emails into the record, and display any attachments on the screen, for up to 3 minutes (subject to the Chair's discretion to shorten time for public comments). Members of the public that wish to share a document must email AuditCommittee@cupertino.org prior to speaking. 3) Teleconferencing Instructions Membets of the public may observe the teleconference meeting or provide oral public comments as follows: Oral public comments will be accepted during the teleconference meeting. Comments may be made during "oral communications" for matters not on the agenda, and during the public comment period for each agenda item. To address the Audit Committee, click on the link below to register in advance and access the meeting: Online Page I I, Audit Committee Agenda November 15, 2021 Register in advance for this webinar: https://cityofcupertino.zoom.us/webinar/register/WN Jba30XvGQhm2uG8SpT4cAA Phone Dial: 669-900-6833 and enter Webinar ID: 941 6458 9868 (Type *9 to raise hand to speak, *6 to unmute yourself). Unregistered participants will be called on by the last four digits of their phone number. -" Or an H.323/SrP room system: H.323: 162.255.37.11 (US West) Meeting ID: 941 6458 9868 SIP: 94164589868@zoomcrc.com After registering, you will receive a confirmation email containing information about joining the webinar. Please read the following instructions carefully: 1. You can directly download the teleconference software or connect to the meeting in your internet browser. If you are using your browser, make sure you are using a current and up-to-date browser: Chrome 30+, Firefox 27+, Microsoft Edge 12+, Safari 7+. Certain functionality may be disabled in older browsers, including Internet Explorer. 2. You will be asked to enter an email address and a name, followed by an email with instructions on how to connect to the meeting. Your email address will not be disclosed to the public. If you wish to make an oral public comment but do not wish to provide your name, you may enter "Cupertino Resident" or similar designation. 3. When the Chair calls for the item on which you wish to speak, click on "raise hand." Speakers will be notified shortly before they are called to speak. 4. When called, please limit your remarks to the time allotted and the specific agenda topic. In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend this teleconference 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 6 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, NOTICE AND CALL FOR A SPECIAL MEETING OF THE AUDIT COMMITTEE Page 2 Audit Committee Agenda November 15 2021 NOTICE IS HEREBY GIVEN that a special meeting of the Audit Committee is hereby called for Monday, November 15, 2021, commencing at 4:00 p.m. In accordance with Government Code 54953(e), this will be a teleconference meeting without a physical location to help stop the spread of COVID-19. Said special meeting shall be for the purpose of conducting business on the subject matters listed below under the heading, "Special Meeting." SPECIAL MEETING ROLt CALL ORDERS OF THE DAY APPROV AL Or MINUTES 1.$: Approve minutes from Regular Meeting on October 25, 2021 Recommended Action: Approve minutes from Regular Meeting on October 25, 2021 A - Draft Minutes ORAL COMMUNICATIONS This portion of the meeting is reserved for persons wishirtg to address the Committee on any matter within the jurisdiction of the Committee and riot 071 the agenda. Speakers are limited to three (3) minutes. In most cases, State law will prohibit the Commission from making any decisiorxs wi$ respect to a matter not on the agenda. NEW BUSINESS 2.$: OPEB & Pension Trust Investment Policy Review Recommended Action: Consider Accepting OPEB & Pension Trust Investment Policies Staff Reoort A - OPEB Trust Investment Policy B - Pension Trust Investment Policy C - U.S. Bank Resegch and Due Diligence Process 3. $: HdL Contract and Refund Error Report Recommended Action: Accept HdL Contract and Refund Error Report Staff Reoort 4. l: EmbezzlementUpdate Recommended Action: Receive Embezzlement Update 5. : Proposed Audit Committee 2022 Schedule and Work Plan Page 3 AuditCommittee Agenda Novemberl5,2021 Recommended Action: Receive Proposed Audit Committee 2022 Sa"iedule and Work Plan and Provide Input A - Proposed Audit Committee 2022 Saiedule and Work Plan 6.$: Budget Form Review ffid OpenGov Study Session Recommended Action: Discuss Budget Form Review and Receive OpenGov Study Session A - Budget Format Review Update B - Sub-Committee Initial Comments on Budget Format Review C - Sub-Committee Formal Memorandutn on Budget Format Review D - Budget Format Review Update PPT E - 0uestions Regarding the Current Budget Report F - OpenGov Trag OLD BUSINESS ST AFF AND COMMITTEE REPORTS FUTURE AGENDA SETTING ADJOURNMENT Irt compliartce with the Americans with Disabilities Act (ADA), anyone who is plamting to attend this teleconferertce meetirtg who is visually or hearing impaired or has arty disabi(ity that needs specia7 assistartce should call the City Clerk's Office at 408-777-3223, at Least 6 hours in advance of the meeting to arrange for assistartce. In addition, upon request, iry advartce, by a person with a disability, meetirgg agendas and writings distributed for the meetirtg that are public records wi77 be made available 'm the appropriate alternative format. Arty writirtgs or documertts 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 Ha77 Located at 10300 Torre Avertue, Cupertino, Califorrtia 95014, during ;norma7 business hours. IMPORTANT NOTICE: P4ease be advised that pursuant to Cupertirto Municipal Code sectiort 2.08.100 written communications sertt to the Cupertino City Council Commissioners or City staff co;ncerning a matter 07'l the agenda are included as supp(emental materia7 to the agendized item. These written commurtications are accessible to the public through the City's website and kept in packet archives. Do riot irtc[ude arty personar or private information irt written commurtications to the City that you do not wish to make public, as written communications are considered public records and wil7 be made publicly avai(able ory the City website. Members of the public are entitled to address the members concernirtg any item that is described in the rxotice or agertda for this meet'mg, before or durirtg cortsideration of that item. If you wish to address the Page 4 Audit Committee Agenda November 15 2021 members on arxy other item not on the agenda, you may do so during the public comment. Page 5 Special Meeting TELECONFERENCE / PUBLIC PARTICIPATION INFORMATION TO HELP STOP THE SPREAD OF COVID-19 In accordance with Government Code 54953(e), this will be a teleconference meeting without a physical location to help stop the spread of COVID-19. Members of the public wishing comment on an item on the agenda may do so in the following ways: 1) E-mail comments by 2:00 p.m. on Monday, December 13 to the Audit Committee at AuditCommittee@cupertino.org. These e-mail comments will be received by the Audit Committee members before the meeting and posted to the City's website after the meeting. 2) E-mail comments during the times for public comment during the meeting to the Audit Committee at AuditCommittee@cupertino.org. The staff liaison will read the emails into the record, and display any attachments on the screen, for up to 3 minutes (subject to the Chair's discretion to shorten time for public comments). Members of the public that wish to share a document must email AuditCommittee@cupertino.org prior to speaking. 3) Teleconferencing Instructions Members of the public may observe the teleconference meeting or provide oral public comments as follows: Oral public comments will be accepted during the teleconference meeting. Comments may be made during /'oral communications" for matters not on the agenda, and during the public comment period for each agenda item. To address the Audit Committee, cliclc on the link below to register in advance and access the meeting: Register in advance for this webinar: . https://cityofcupertino.zoom.us/webinar/register/WNIKRIyixbSnCShUQfQXZAw Page 1 Audit Committee Agenda .; December 13, 2021 Phone Dial: 669-900-6833 and enter Webinar ID: 950 1869 5272 (Type *9 to raise hand to speak, *6 to unmute yourself). Unregistered participants'.will be called on by the last four digits of their phone number.a ' ' Or ari H.3.23/SIP.room system: : 4a ,, ,,,. ,,, " H.323:= Meeting.ID %O 1869 5272 SIP: 94164589868@zoomcrc.com After registering, you will receive a confirmation email containing information about joining the webinar. Please read the following instructions carefully: 1. You can directly download the teleconference software or connect to the meeting in your internet browser. If you are using your browser, make sure you are using a current and up-to-date browser: Chrome 30+, Firefox 27+, Microsoft Edge 12+, Safari 7+. Certain functionality may be disabled in older browsers, including Internet Explorer. 2. You will be asked to enter an email address and a name, followed by an email with instructions on how to connect to the meeting. Your email address will not be disclosed to the public. If you wish to make an oral public comment but do not wish to provide your name, you may enter "Cupertino Resident" or similar designation. 3. When the Chair calls for the item on which you wish to speak, click on "raise hand." Speakers will be notified shortly before they are called to speak. 4. When called, please limit your remarks to the time allotted and the specific agenda topic. In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend this teleconference 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 6 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. NOTICE AND CALL FOR A SPECIAL MEETING OF THE AUDIT COMMITTEE NOTICE IS HEREBY GIVEN that a special meeting of the Audit Committee is hereby called for Monday, December 13, 2021, commencing at 4:00 p.m. In accordance with Page 2 Audit Committee Agenda Decembet 13, 2021 Government Code 54953(e), this will be a teleconference meeting without a physical location to help stop the spread of COVID-19. Said special meeting shall be for the purpose of conducting business on the subject matters listed below under the heading, "Special Meeting." SPECIAL MEETING ORDERS OF THE DAY APPROV AL OF MINUTES 1. $: Approve Minutes of Regular Meetiiig on November 15, 2021 Recoinmended Action: Approve Miiiutes of Regular Meetiiig on November 15, 2021 A - A/Iinutes 11.15.21 ORAL COMMUNICATIONS This portion of the meeting is reserved for persons wishirxg to address the Committee on any matter within the jurisdiction of the Committee and not own the agerxda. Speakers are Limited to three (3) minutes. In most cases, State raw witl prohibit the Commission from making any decisions zoith respect to a matter not on the agenda. NEW BUSINESS 2. $: Embezzlement Update Recommei"ided Action: Receive Embezzlement Update 3.$: Proposed Audit Committee 2022 Schedule and Work Plan Recommended Action: Approve Proposed Audit Committee 2022 Schedule aiid Work Plan Proposed Audit Con'imittee 2022 Schedule and Work Plan 4.$: Receive Budget Format Review and Opengov Study Session Recommended Action: Receive Budget Format Review and Opengov Study Session A - Budget Format Review Update B - Sub-Committee Initial Comments on Budget Format Review C - Sub-Committee Formal Memorandum on Budget Format Review D - Budget Format Review Update PPT E - Questions Regarding the Current &idget Report F - OpenGov Training 5.$: OPEB and Pension Section 115 Trust Discount Rate Sensitivity Analysis Recommended Action: Receive OPEB aiid Pension Section 115 Trust Discount Rate .6ensitivity Analysis A - Staff Report Page 3 Audit Committee Agenda Decembet 13, 2021 O'LD BUSINESS ST AFF AND COMMITTEE REPORTS FUTURE AGENDA SETTING ADJOURNMENT I;+'y compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend this telecoiqference meeting who is visually or hearing impaired or has any disability that needs special assistance sho'tdd cal7 the City C7erlc's Office at 408-777-3223, at Least 48 hours in advance of the meeting to arrange for assistance. Irt 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 docume;nts provided to a majority of t7ie members after publication of the agenda will be made avairable for public inspection. Please coyqtact the City C7er7c's Office in City Hal7 )ocated at 10300 Torre Avertue, Cupertino, California 95014, duri;ng normal business hours. IMPORTANT NOTICE: P(ease be advised that pursuant to Cupertirw Municipa7 Code section 2.08.100 written communications sent to the Cuperti'no Cih) Co'tmcil, Commissioners or Cih) staff concerrting a matter ory the agenda are irtc7uded as supplemental materia7 to the agendized item. These written coynmunications are accessible to t7ie puMic through the City's website and kept in packet archives. Do rtot irtclude any persona7 or private information in written commurtications to the City that you do riot roish to make public, as written commu;nications are cortsidered public records and zoill be made pub[icly avai(abre on the City website. Members of the public are entit7ed to address the members concerni;ng any item that is described in the ryotice or agenda for this meeting, before or durirtg consideration of that item. If you wish to address the members on arty other item not 07'l the agertda, you may do so during the public commertt. Page 4