HomeMy WebLinkAboutAudit Committee-Minutes-2/20/2024
City of Colleyville Page 1
CITY OF COLLEYVILLE
AUDIT COMMITTEE AGENDA
100 Main Street, Colleyville, Texas, 76034
City Manager's Conference Room - Third Floor
TUESDAY, FEBRUARY 20, 2024 - 5:00 PM
1. CALL TO ORDER
2. APPROVAL OF MINUTES
November 21, 2023
3. REGULAR AGENDA ITEMS
3a Discussion of the draft FY23 Audit and SAS 114 Letter
4. REPORTS
Quarterly investment report
5. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, February 16,
2024 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 may be 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
817.503.1130, and reasonable accommodations will be made to assist you.
City of Colleyville Page 1
CITY OF COLLEYVILLE
AUDIT COMMITTEE MINUTES
100 Main Street, Colleyville, Texas, 76034
City Manager's Conference Room - Third Floor
TUESDAY, FEBRUARY 20, 2024 - 5:00 PM
1. CALL TO ORDER
City Secretary Christine Loven called the meeting to order at 5:03 p.m. and called
the roll.
PRESENT: Committee members Brandi Elder and Scotty Richardson.
ABSENT: Chuck Kelley.
ALSO PRESENT: Accounting Manager Karen Hines, City Manager Jerry Ducay,
Assistant City Manager Mark Wood, and City Secretary Christine Loven.
2. APPROVAL OF MINUTES
November 21, 2023
The November 21, 2023 minutes were approved.
3. REGULAR AGENDA ITEMS
3a Discussion of the draft FY23 Audit and SAS 114 Letter
Accounting Manager Karen Hines introduced Jennifer Ripka, partner, Weaver
Tidwell, the City’s auditor. Ms. Ripka gave an overview and explained the audit
process. She stated the City received an unmodified report, which is the highest
report which can be given. She noted there were no material weaknesses, no
significant deficiencies, and no noted noncompliance material to the financial
statements.
Ms. Ripka thanked Karen and the finance staff for their assistance and advised the
Committee they are appreciative of staff and the City Council. With there being no
questions regarding the audit, Ms. Ripka advised it will be become final and be
presented at the March 19, 2024 City Council meeting for approval.
4. REPORTS
Quarterly investment report
Accounting Manager Karen Hines stated this has been a quiet quarter with more
focus on the audit. She noted one CD has renewed during this quarter.
City of Colleyville Page 2
Audit Committee Minutes February 20, 2024
There was general discussion regarding CD renewal and rate structures.
4. ADJOURNMENT
The meeting adjourned at 5:28 p.m.
PASSED BY A VOTE OF 2 AYES, 0 NAYS, THIS THE 18TH DAY OF JUNE 2024.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary