HomeMy WebLinkAboutAudit Committee-Minutes-04/20/2021City 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, April 20, 2021
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1.CALL TO ORDER
2. APPROVAL OF MINUTES
February 2, 2021
3.REPORTS
Quarterly Investment Report for the quarter ended March 31, 2021
4.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, April
16, 2021, 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, April 20, 2021
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 at 5:00 p.m.
on April 20, 2021.
ROLL CALL: Committee members present George Dodson, Bobby Lindamood, and
Chuck Kelley.
Also Present: Finance Director Kyle Lester, City Manager Jerry Ducay, Assistant
City Manager Mark Wood, and City Secretary Christine Loven
2. APPROVAL OF MINUTES
February 2, 2021
The minutes were approved as presented.
3. REPORTS
Quarterly Investment Report for the quarter ended March 31, 2021
Finance Director Kyle Lester reviewed the quarterly investment report and noted
rates are still falling due to the pandemic, but the City is stilling doing well. There
was general discussion regarding the sweep accounts, investments in CD’s, and
pools. Interest earnings for the quarter were $29,774 compared to $39,784 in the
previous quarter. This decrease is reflective of a declining interest rate market.
Staff will continue to examine cash-flow needs and place our resources in
instruments with an emphasis on keeping these funds safe while earning as strong
a yield as possible.
There was discussion of the Hotel Tax Fund use and of the value earned from the
bond payoff. The Finance Director will add a new table to indicate the savings
overall due to the bond payoff.
4. ADJOURNMENT
The meeting was adjourned at 5:20 p.m.
City of Colleyville Page 2
Audit Committee Minutes April 20, 2021
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary