HomeMy WebLinkAboutAudit Committee-Minutes-6/7/2022City 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, June 7, 2022
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1.CALL TO ORDER
2.APPROVAL OF MINUTES
March 2, 2022
3.REPORTS
Quarterly Investment Report for the quarter ended March 31, 2022
4.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, June 3,
2022, 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, June 7, 2022
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 Meeting to order at
5:00 p.m.
Present: Committee Members: Bobby Lindamood, George Dodson, and Chuck
Kelley.
Also Present: Finance Director Kyle Lester, Accounting Manager Karen Hines,
City Manager Jerry Ducay, Assistant City Manager Adrienne Lothery, and City
Secretary Christine Loven.
2. APPROVAL OF MINUTES
March 2, 2022
The March 2, 2022, Audit Committee minutes were approved as presented.
3. REPORTS
Quarterly Investment Report for the quarter ended March 31, 2022
Finance Director Kyle Lester presented the quarterly investment report. He
reviewed the City’s investments and cash portfolio, and noted interest earnings for
the quarter were $22,060 compared to $17,073 in the previous quarter. This is
reflective of a more optimistic market, anticipated Federal Reserve action, and a
few maturities coming due in the last quarter.
Director Lester gave an overview of the City’s cash position, noting the pools are
lagging behind the treasury, and jumbo CDs are still not advancing. There was
general discussion of the liquidity of funds and interfund borrowing.
Mayor Lindamood announced he will be leaving the committee and Committee
Brandi Elder will be appointed for a two year term.
4. ADJOURNMENT
The meeting was adjourned at 5:11 p.m.
Audit Committee Minutes June 7, 2022
City of Colleyville Page 2
PASSED BY A VOTE OF AYES, NAYS, AND ABSTENTIONS, THIS 6TH DAY OF
SEPTEMBER 2022.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary