HomeMy WebLinkAboutAudit Committee-Minutes-09/05/2017
City 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, September 5, 2017
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
Chief Financial Officer Shereen Gendy called the Audit Committee to order on
September 5, 2017, at 5:00 p.m.
ROLL CALL: Committee members Tammy Nakamura, Bobby Lindamood and
Susan Mathisen were present.
Absent: Committee member Nancy Coplen
City Manager Jerry Ducay, Chief Financial Officer Shereen Gendy, Strategic
Services Manager Adrienne Lothery, Accounting Manager Karen Hines, and City
Secretary Amy Shelley were also present.
2. APPROVAL OF MINUTES
May 16, 2017
Committee member Mathisen provided an amendment to the meeting minutes on
page 2 to remove a redundant paragraph.
Committee member Nakamura made a motion to approve the May 16,
2017, amended meeting minutes. Committee member Mathisen seconded.
All approved by acclamation.
3. PRESENTATION AND DISCUSSION
3a Meet with representatives(s) from the City's audit firm, Pattillo, Brown &
Hill, L.L.P. to discuss the Fiscal Year September 30, 2017 audit
John Manning, Pattillo, Brown and Hill, L.L.P., Manager for the Government Audit
Division, the City’s audit firm, discussed the upcoming September 30, 2017 audit
and answered questions of the committee.
Committee member Nakamura asked Mr. Manning if the initial audit process is the
avenue in which persons can speak out when something wrong may be happening.
Mr. Manning replied yes, but there is nothing to report at this time.
Committee member Mathisen asked Mr. Manning if the persons/departments are
selected randomly. Mr. Manning replied yes, but there are certain departments
which are done each time, such as utility billing and building permits. Most
Audit Committee Agenda September 5, 2017
City of Colleyville Page 2
departments have certain controls already in place. Committee member Mathisen
added there have been some positive changes recently made to improve current
processes and procedures.
Committee member Mathisen asked Mr. Manning about their estimated fees for
this year compared to last year. Mr. Manning replied there will not be more than a
three percent increase, as there are no huge costs to pass along to Colleyville.
3b Presentation of the Quarterly Investment Report for the quarter ended
June 30, 2017
Chief Financial Officer Shereen Gendy presented this item and provided an
overview to the committee.
Committee member Mathisen pointed out, in the summary report, the Colleyville
Tomorrow Funds were in the past split out between capital projects funds and
special revenue funds, but those funds are now consolidated into capital projects.
Committee member Mathisen stated the utility fund balance, specifically at the
enterprise, is $8.2 million, and that a portion of that is the operating. The capital
projects has about $7.25 million. City Manager Jerry Ducay added there is now a
new report which shows both to include cash reserve.
Committee member Mathisen asked staff about the tree preservation fund
increase. City Manager Jerry Ducay replied that is the deposit from TexRail for the
tree mitigation.
Committee member Mathisen asked staff why the trash recycling is showing a
negative balance. Accounting Manager Karen Hines replied there is a year-end
entry made which moves money from the Utility Fund to cover the annual clean
sweep event. Strategic Services Manager Adrienne Lothery added this fund will go
away when the new trash service, CWD, takes over.
Committee member Mathisen asked staff about what is included in the police
asset forfeiture fund. Manager Lothery replied anything seized by the police
department is placed in the asset forfeiture account and is used by the police
department to purchase items.
3c Annual review of the City of Colleyville Investment Policy
Chief Financial Officer Shereen Gendy briefed the committee on the Investment
Policy. Members agreed there was no need for changes at this time.
Audit Committee Agenda September 5, 2017
City of Colleyville Page 3
4. ADJOURNMENT
The Audit Committee adjourned at 5:34 p.m.
APPROVED BY A VOTE OF 3 AYES, 0 NAYS, AND 0 ABSTENTIONS ON THIS THE
21ST DAY OF NOVEMBER 2017.
Minutes taken and prepared by:
Amy Shelley, TRMC
City Secretary