Audit 10-11-07 City of Cupertino
Audit Committee
Regular Meeting .
October 11, 200'7
1. CALL TO ORDER
At 4:07 p.m., Carol Atwood called the meeting to order at Cupertino City Hall,
Conference Room A, 10300 Torre Avenue, Cupertino.
2. ROLL CALL
Community Members: Myoung Kang, Garrett Wade, Stanley Stemkoski
City Council: Orrin Mahoney, Dolly Sandoval
City Staff: Carol Atwood, Dorothy Steenfott
3. APPROVAL OF MINUTES
Wade moved to approve the minutes of the regular meeting of August 30, 2007.
Sandoval seconded and motion passed unanimously with Kang abstaining.
4. ORAL COMMUNICATIONS
None
5. WRITTEN COMMUNICATIONS
None
7. NEW BUSINESS
A. 2007 Audit Update
Atwood reported that she and David Woo met with Maze and Associates
regarding the 2007 Audit. She indicated that the report was clean once again this
year and that the Single Audit would begin in December. She also reported that
the committee would be able to meet with Maze and Associates individually to
discuss the fina12007 financial reports.
B. August Investment Report/Budget Update
Atwood reviewed the August investment report and provided an update on the
budget.
C. Other Committee Updates/Reports - OPEB Actuarial
It was reported that funding of retiree medical began two years ago. It was also
noted that a report is being prepared and will be forwarded to the committee when
it is complete.
October 11, 2007 Audit Committee Minutes Page 2
6. OLD BUSINESS
None.
7. ADJOURNMENT
The meeting was adjourned at 5:01 p.m.
Dorothy Steenfo
Recording Secr ry