HomeMy WebLinkAboutAudit Committee-Minutes-5/2/2023
City of Colleyville Page 1
CITY OF COLLEYVILLE
AUDIT COMMITTEE AGENDA
100 Main Street, Colleyville, Texas, 76034
City Manager’s Office Conference Room
Third Floor
TUESDAY, MAY 2, 2023 - 4:30 PM
1. CALL TO ORDER
2. APPROVAL OF MINUTES
February 21, 2023
3. REGULAR AGENDA ITEMS
3a Discussion of the Request for Proposal and selection process for
external auditing services for the Fiscal Years ending September 30,
2023 through September 30, 2027
3b Interview of audit firms submitting proposals in response to the City’s
request for proposals for an external audit firm
3c Review the sealed cost portion of the audit proposals and consider a
recommendation to City Council for the selection of an audit firm
4. REPORTS
4a Quarterly Investment Report for the quarter ended March 31, 2023
4b Update on future discussion items and initiatives
5. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, April 28, 2023
by 5:00 p.m.
Christine Loven, TRMC
City Secretary
A quorum of any Colleyville board, commission, or committee may be present at this
meeting. Any matter on this agenda maybe opened for public comment and discussion at
the discretion of the governing body.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise the City Secretary at least 48 hours in advance at
817.503.1133, 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, May 2, 2023
4:30 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 4:31 p.m. and called
the roll.
PRESENT: Committee members George Dodson, Brandi Elder, and Chuck Kelley.
ALSO PRESENT: Director of Finance Kyle Lester, Accounting Manager Karen
Hines, City Manager Jerry Ducay, Assistant City Manager Mark Wood, Human
Resources Director Jesse Perez, and City Secretary Christine Loven.
2. APPROVAL OF MINUTES
February 21, 2023
The February 21, 2023 minutes were unanimously approved.
3. REGULAR AGENDA ITEMS
3a Discussion of the Request for Proposal and selection process for external
auditing services for the Fiscal Years ending September 30, 2023
through September 30, 2027
Finance Director Kyle Lester reviewed the Request for Proposal and staff scoring
process. He noted there will be two firms which meet all the criteria and
deadlines.
3b Interview of audit firms submitting proposals in response to the City’s
request for proposals for an external audit firm
The Audit Committee heard proposals and interviewed two auditing firms: Forvis
and Weaver
3c Review the sealed cost portion of the audit proposals and consider a
recommendation to City Council for the selection of an audit firm
Following the interviews the bids were opened and reviewed. The Audit Committee
agreed Weaver was a better fit based on experience, locale, and cost.
Audit Committee Minutes May 2, 2023
City of Colleyville Page 2
4. REPORTS
Quarterly Investment Report for the quarter ended March 31, 2023
Director Lester reviewed the investment report, discussing the City’s cash position,
summarized the quarterly returns and reviewed the Mark-to-Market.
Update on future discussion items and initiatives
Director Lester provided a high-level overview of items and initiatives which are
planned for FY23 and will be brought to the committee for discussion.
5. ADJOURNMENT
The meeting was adjourned at 5:28 p.m.
MINUTES APPROVED THIS 15TH DAY OF AUGUST 2023.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary