HomeMy WebLinkAboutAudit Committee-Agenda Packets-2/21/2023
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, February 21, 2023
4:30 PM
City Manager’s Conference Room
Third Floor – City Hall
1. CALL TO ORDER
2. APPROVAL OF MINUTES
January 17, 2023
3. REGULAR AGENDA ITEMS
3a Discussion of the draft FY22 audit
4. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday,
February 17, 2023, 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, January 17, 2023
5:00 P.M.
City Manager’s Conference Room
Third Floor – City Hall
1. CALL TO ORDER
City Secretary Christine Loven called the meeting to order at 5:00 p.m.
Roll Call: Audit Committee members George Dodson, Brandi Elder. Chuck Kelley
arrived at 5:08 p.m.
Also Present: Mayor Bobby Lindamood, Scotty Richardson, City Manager Jerry
Ducay, Assistant City Manager Adrienne Lothery, Finance Director Kyle Lester,
Accounting Manager Karen Hines, and City Secretary Christine Loven.
2. APPROVAL OF MINUTES
September 6, 2022
The minutes were approved.
3. REGULAR AGENDA ITEMS
3a Approval of the City of Colleyville Investment Policy annual review
Finance Director Kyle Lester stated the Public Funds Investment Act requires the
City, as the governing body of a public entity, review the investment strategy and
adopt a written instrument by resolution stating it has reviewed the investment
policy and investment strategies. Director Lester stated no changes are
recommended. The audit committee agreed and this item will be on the City
Council’s Consent Agenda tonight.
3b Quarterly Investment Reports for the quarter ended September 30, 2022
and December 31, 2022
Director Lester reviewed the investment report, noting interest earnings are up
compared to the previous quarter. He stated this is reflective of a more optimistic
market, anticipated Federal Reserve action, and a few maturities due in the last
quarter. 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.
Audit Committee Minutes January 17, 2023
City of Colleyville Page 2
5. ADJOURNMENT
The meeting was adjourned at 5:26 p.m.
MINUTES APPROVED THIS 21ST DAY OF FEBRYUARY 2023.
Minutes taken and prepared by:
Christine Loven,
City of Colleyville Page 1
City of Colleyville
Audit Committee
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 3a Agenda Date 2/21/2023 Number
Type Regular Agenda Items
Department Finance
Title
Discussion of the draft FY22 audit
Explanation
This item provides for an update from the City's audit firm, Weaver and Tidwell.
Attachments