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Board accepts auditors' reports and approves ACFR; internal audit items closed
Summary
The board accepted the independent auditors’ internal-control report and management letter, approved the Annual Comprehensive Financial Report (ACFR), and accepted eight internal-audit recommendations as complete. The audit committee reported no significant findings.
The board’s audit and risk agenda produced a slate of approvals on Nov. 20. Trustee Abbasti (audit committee chair) summarized the Oct. 30 audit committee meeting and reported that the independent auditors found no significant internal‑control findings.
The board voted to accept the auditors’ report on internal controls and the independent auditors’ management letter and recommendations. Trustee Abbasti moved to accept each item and trustees approved both motions by voice vote with no opposition.
The board then moved to accept and approve the Annual Comprehensive Financial Report (ACFR). Trustees praised the accounting and finance team for the annual publication; the board unanimously approved the ACFR.
Finally, staff and the audit committee recommended marking eight internal‑audit recommendations (five high, two medium, one low) as complete. In the absence of an internal auditor, staff described the internal process used to validate completion; trustees voted to accept the eight items as proposed complete. Staff said Baker Tilly is being onboarded to provide internal audit services going forward.
The actions close several audit items and keep the board on schedule to present final audit and valuation materials in December.
