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Finance director outlines audit timeline; subcommittees’ roles reviewed
Summary
Finance staff told the committee auditors will arrive earlier this year and the city needs a solid trial balance by Sept. 14. Committee discussed the internal control and consultant review subcommittees and their roles if audit findings arise.
Finance staff updated the committee on the city’s audit timeline and briefed members on subcommittee responsibilities.
Lisa (Finance Director) said auditors will come earlier this year and that staff needs to deliver a solid trial balance by Sept. 14. Lisa said the draft ACFR will be presented to the committee in early November with the final ACFR going to the full council at the first December meeting. Committee members reviewed subcommittee roles: the internal control committee steps in if audit findings are identified and the consultant review committee handles RFPs and scoring when needed.
Committee members affirmed the timeline and thanked staff for the work to accelerate the audit schedule.
