HomeMy WebLinkAboutAudit Committee Minutes -February 17, 2026
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 17, 2026 - 5:00 PM
1. CALL TO ORDER
City Secretary Christine Loven called the meeting to order at 5:01 p.m. and called
the roll.
PRESENT: Committee members Brandi Elder, Scotty Richardson, and Mark
Alphonso.
ALSO PRESENT: Finance Director Cassie Smith, Accounting Manager Karen
Hines, City Manager Jerry Ducay, Assistant City Manager Mark Wood, and City
Secretary Christine Loven.
2. APPROVAL OF MINUTES
November 18, 2025
The November 18, 2025 minutes were approved.
3. REGULAR AGENDA ITEMS
3a Discussion of the FY25 Audit and SAS 114 Letter
Finance Director Cassie Smith introduced Michelle Gilley, with Weaver, the City’s
auditing firm. Ms. Gilley reviewed the audit process, significant changes, work
results, the audit reports, risks, communications, and the financial highlights. Ms.
Gilley 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. Gilley thanked Cassie Smith and Karen Hines for their assistance and said
Weaver looks forward to continuing to work with both. With there being no
questions regarding the audit, Ms. Gillen advised the audit will go before City
Council tonight, February 17, 2026, for approval.
4. REPORTS
Quarterly investment report as of December 31, 2025
Finance Director Cassie reviewed the investment reports. She highlighted the
City’s portfolio composition and performance. Director Smith stated the City
Audit Committee February 17, 2026
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continues to monitor investments to ensure the strategies and objectives to
preserve capital, provide liquidity, and optimize earnings are being met.
4. ADJOURNMENT
The meeting adjourned at 5:16 p.m.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary