HomeMy WebLinkAboutAudit Committee-Agenda Packets-4/30/2013
City of Colleyville
Audit Committee
Agenda
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Tuesday, April 30, 2013
5:00 p.m.
Executive Conference Room
Third Floor – City Hall
1. CALL TO ORDER
2. REGULAR AGENDA ITEMS
2a Interview of audit firms submitting proposals for the City’s external audit for Fiscal
Year ended September 30, 2013
2b Discussion of Request for Proposal submitted by audit firms for the
City's annual external audit for Fiscal Year ended September 30, 2013
2c Presentation of the Quarterly Investment Report
3. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, April 26,
2013 by 5:00 p.m.
Terry Leake
Assistant City Manager and Chief Financial Officer
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 Page 1
City of Colleyville
Audit Committee
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 2a Agenda Date 04/30/2013 Number 2a
Type Presentation and Discussion
Department Finance
Title
Interview of audit firms submitting proposals for the City’s external audit for Fiscal Year ended
September 30, 2013
Explanation
The Audit Committee will be interviewing audit firms that submitted a Request for
Proposal for the City's annual external audit for Fiscal Year ended September 30, 2013.
Attachments
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 2b Agenda Date 04/30/2013 Number 2b
Type Presentation and Discussion
Department Finance
Title
Discussion of Request for Proposal submitted by audit firms for the City's annual
external audit for Fiscal Year ended September 30, 2013
Explanation
The Audit Committee will discuss the Request for Proposal submitted by audit firms for
the City's external audit for Fiscal Year ended September 30, 2013, for the purpose of
recommending an audit firm to the City Council for an audit engagement.
Attachments
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 2c Agenda Date 04/30/2013 Number 2c
Type Presentation and Discussion
Department Finance
Title
Presentation of the Quarterly Investment Report
Explanation
During the period of January 1, 2013 through March 31, 2013, the City of Colleyville
had an average of $48,015,775 invested on a daily basis, which earned $27,893, with
an average yield of 0.24%. The average yield on investments for this quarter is down
from the prior quarter's average of 0.25%. As of March 31, 2013, the City had
$47,255,322 invested in the LOGIC Investment Pool, CDARS Certificates of Deposit
and various debt instruments in the following percentages:
Logic 50.33% FFCB Notes 27.09%
FHLB Notes 9.21% CDARS CD’s 8.50%
Treasury Note 2.75% FNMA Note 2.12%
These percentages are within the guidelines for portfolio diversification in the City's
investment policy. The market value of the City's investments on March 31, 2013 was
$19,503,847 as compared to a purchase price of $19,473,628 (this excludes LOGIC
Investment Pool and CDARS Certificates of Deposit). The Colleyville Economic
Development Corporation currently holds a Treasury Note ($550,000) with a market
value of $552,320 and a purchase price of $554,469. Additionally, $1,096,380 was
invested in the Corporation's name in the LOGIC Investment Pool. These funds earned
interest of $641 for the quarter.
Attachments
1.Quarterly Investment Report for quarter ending March 31, 2013