HomeMy WebLinkAboutAudit Committee-Minutes-8/20/2024City of Colleyville Page 1
CITY OF COLLEYVILLE
AUDIT COMMITTEE AGENDA
100 Main Street, Colleyville, Texas, 76034
City Manager's Conference Room - Third Floor
TUESDAY, AUGUST 20, 2024 - 4:30 PM
1.CALL TO ORDER
2.APPROVAL OF MINUTES
2a June 18, 2024
3.REGULAR AGENDA ITEMS
3a Discussion of the Fiscal Year September 30, 2024, audit which will be
conducted by the City's audit firm Weaver
3b Presentation of the third quarter FY24 investment report
4.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, August 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, AUGUST 20, 2024 - 4:30 PM
1. CALL TO ORDER
City Secretary Christine Loven called the meeting to order at 4:30 p.m. and called
the roll.
PRESENT: Committee members Brandi Elder, Scotty Richardson, and Mark
Alphonso.
ALSO PRESENT: Finance Director Matt Poston, Accounting Manager Karen Hines,
City Manager Jerry Ducay, Assistant City Manager Mark Wood, and City Secretary
Christine Loven.
2. APPROVAL OF MINUTES
June 18, 2024
The June 18, 2024 minutes were approved.
3. REGULAR AGENDA ITEMS
3a Discussion of the Fiscal Year September 30, 2024, audit which will be
conducted by the City’s audit firm, Weaver
Finance Director Matt Poston stated Weaver is the City’s auditing firm. Weaver
was on site in July for two days to perform an interim audit and there were no
concerns. The firm will be back in November to begin the full audit process.
3b Presentation of the third quarter FY24 investment report
Finance Director Matt Poston noted there had been updates in the financial policy
since the last meeting however, the investment strategies and objects remain to
preserve capital, provide liquidity, and optimize earnings. Director Poston provided
an overview of the report, reiterated the investment strategies and objectives, and
explained the portfolio performance and investment distribution.
There was general discussion regarding maturing funds, the federal rate, and CD
renewal and rate structures.
City of Colleyville Page 2
Audit Committee Minutes August 20, 2024
4. ADJOURNMENT
The meeting adjourned at 4:45 p.m.
APPROVED THIS THE 4TH DAY OF MARCH 2025.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary