HomeMy WebLinkAboutAudit Committee-Minutes-02/20/2018City of Colleyville Page 1
City of Colleyville
Audit Committee
Agenda
City Hall
100 Main Street
Colleyville, Texas 76034
817.503.1000
www.colleyville.com
Tuesday, February 20, 2018
4:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1.CALL TO ORDER
2. APPROVAL OF MINUTES
November 21, 2017
3. PRESENTATIONS AND DISCUSSION
3a Discussion of the draft Fiscal Year 2017 (FY17) Audit and SAS 114
Letter
3b Quarterly Investment Report for the quarter ended December 31,
2017
4.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday,
February 16, 2018, by 5:00 p.m.
Christine Loven, TRMC
City Secretary
A quorum of the Colleyville City Council and/or any other Colleyville Board,
Commission, or Committee may be in attendance at this meeting.
Any matter on this agenda may, at the discretion of the governing body, be
opened for public comment and discussion.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise Executive Secretary at least 48 hours in advance
at 817.503.1111, and reasonable accommodations will be made to assist you.
City of Colleyville Page 1
City of Colleyville
Audit Committee
MINUTES
City Hall
100 Main Street
Colleyville, Texas 76034
817.503.1000
www.colleyville.com
Tuesday, February 20, 2018
4:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
Chief Financial Officer Shereen Gendy called the Audit Committee to order on
February 20, 2018, at 4:00 p.m.
ROLL CALL: Committee members Bobby Lindamood, George Dodson, Kathy
Wheat, and Susan Mathisen were present.
Also Present: Chief Financial Officer Shereen Gendy, Accounting Manager Karen
Hines, Assistant City Manager Adrienne Lothery, and City Secretary Christine
Loven were also present.
2. APPROVAL OF MINUTES
September 5, 2017
Committee member Mathisen made a motion to approve the November
21, 2017, meeting minutes. Committee member Lindamood seconded. All
approved by acclamation.
3. PRESENTATIONS AND DISCUSSION
3a Discussion of the draft Fiscal Year 2017 (FY17) Audit and SAS 114 Letter
John Manning, Pattillo, Brown and Hill, L.L.P., Manager for the Government Audit
Division, the City’s audit firm, discussed the draft Fiscal Year 2017 (FY17) Audit
and SAS 114 Letter process and gave an overall review and recap of the
Comprehensive Annual Financial Report (CAFR). Mr. Manning discussed the new
GASB standards and answered questions of the committee.
Mr. Manning thanked CFO Shereen Gendy, Accounting Manager Karen Hines, and
Assistant City Manager Adrienne Lothery for all their work and thorough review of
the CAFR.
Committee member Mathisen stated she felt the audit was well done and
adequately reflected the goals of the City Council.
Committee member Wheat stated she is not a financial person, and was able to
read and comprehend the material and thanked Mr. Manning and staff for same.
Audit Committee Minutes February 20, 2018
City of Colleyville Page 2
Committee members Lindamood and Dodson also expressed their appreciation to
Mr. Manning, the committee members, and staff.
3b Quarterly Investment Report for the quarter ended December 31, 2017
Chief Financial Officer Shereen Gendy presented this item and provided an
overview to the committee. She also discussed the intent to diversify the
investment portfolio through investing in new government investment pools.
Mr. Manning thanked everyone for their time.
4. ADJOURNMENT
The Audit Committee adjourned at 4:58 p.m.
APPROVED BY A VOTE OF 4 AYES, 0 NAYS, AND 0 ABSTENTIONS ON THIS THE
1ST DAY OF MAY 2018.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary