HomeMy WebLinkAboutAudit Committee-Minutes-02/04/2020City 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 4, 2020
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1.CALL TO ORDER
2. APPROVAL OF MINUTES
August 20, 2019
November 19, 2019
3.REGULAR AGENDA ITEMS
3a Discuss preliminary draft of FY19 Comprehensive Annual Financial
Report
4.REPORTS
Presentation of the Quarterly Investment Report for the quarter
ended December 30, 2019
5.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday,
January 31, 2020, 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.
Audit Committee Agenda February 4, 2020
City of Colleyville Page 2
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 4, 2020
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1. CALL TO ORDER
City Secretary Christine Loven called the Audit Committee to order on February 4,
2020 at 5:00 p.m.
ROLL CALL: Committee members present George Dodson, Kathy Wheat, Bobby
Lindamood
ABSENT: Committee member Susan Mathisen
Also Present: Finance Director Kyle Lester, Accounting Manager Karen Hines,
Assistant City Manager Mark Wood, and City Secretary Christine Loven
2. APPROVAL OF MINUTES
August 20, 2019
November 19, 2019
Committee member Dodson motioned to approve the minutes, Committee
member Wheat seconded, the minutes were unanimously approved.
3. REGULAR AGENDA ITEMS
3a Discuss preliminary draft of FY19 Comprehensive Annual Financial Report
Jennifer Ripka and Kristen Derryberry of Weaver and Tidwell, reviewed the FY19
Comprehensive Annual Financial Report (CAFR) stating the City received an
unmodified report, which is the highest available rating. They additionally noted
the audit revealed no material weaknesses and there were no non-compliance
issues. Ms. Ripka and Ms. Derryberry thanked staff for their cooperation and
assistance and asked the committee members if there were questions.
There was a brief discussion of future leases entering into the debt ratio.
4. REPORTS
Presentation of the Quarterly Investment Report for the quarter ended
December 30, 2019
Audit Committee Minutes February 4, 2020
City of Colleyville Page 2
Finance Director Kyle Lester reviewed the investment report, noting there was an
increase in cash revenue of $2.5 million over the last quarter. There was a general
review and discussion of the City’s accounts, yields, and the market.
4. ADJOURNMENT
The meeting was adjourned at 5:20 p.m.
MINUTES APPROVED THIS 21ST DAY OF JULY, 2020.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary