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Tue May 30
|Ross Arnett, Chair, Ward 8||12/2/2025|
|Elly Tierney, Ward 1||12/2/2025|
|Rhonda Pindell Charles, Ward 3||12/2/2025|
|James A. Cardillo, CPA||
The purpose of the Audit Committee is to provide independent review and oversight of the City's financial reporting processes, internal controls and risk management assessments; program performance metrics, measurements and evaluation; external audits; compliance with financial policies, and internal audit services.
A. The Audit Committee shall be responsible for the review, retention and oversight of the work of any external auditors engaged to perform independent audit, review, or attestation services. All external auditors shall report findings directly to the Audit Committee. Additionally, all external auditors shall provide to the Audit Committee a copy of all required communications to the City Council. External audit services shall be contracted for in accordance with the City's standard procurement procedures under the direction of the City Procurement Officer after the scope of work as been reviewed and approved by the Audit Committee.
B. The Audit Committee shall be responsible for the oversight of any internal auditors, employees, and consultants engaged to provide internal audit services to the City. The Audit Committee shall make recommendations to the City Manager for the appointment and retention of individuals or firms performing internal audit services. The City Manager shall accept the recommendations of the Audit Committee unless there is compelling reason to the contrary presented to the City. The work product of any individual or firm engaged to perform internal audit services shall be furnished directly to the Audit Committee.
C. The Audit Committee shall present annually to the City Council a written report of how it has discharged its duties and met its responsibilities. The Audit Committee's report shall be made public and shall include copies of all reports received from any internal or external Auditors issued since the last written report.
D. The Audit Committee shall establish written rules and regulations for the governance of its meetings and responsibilities.
E. The Audit Committee shall oversee the establishment and execution of procedures for the receipt, retention, treatment, and resolution of allegations of improper procedures, irregularities, fraud, waste, or abuse in City government.
F. The Finance Director and Finance Department shall cooperate with the Audit Committee to assist the committee in performing its oversight duties and responsibilities by fulfilling requests for information and administrative support in a responsive manner.
A. The Audit Committee shall consist of three Alderpersons, three appointed citizens and one member selected by the Financial Advisory Commission from among its membership. The appointed citizens shall have experience in one or more of the following areas: municipal finance; City operations; or financial reporting, accounting, and auditing. The Audit Committee shall report to the City Council. The Alderperson members shall be appointed by the Mayor and confirmed by the City Council. The appointed citizens shall be nominated by the Alderperson members and confirmed by the City Council. The terms of the Alderpersons shall be identical with their terms of office. The initial terms of office for the three appointed citizens shall be two, three and four years respectively. Thereafter, each citizen member shall serve for a term of three years, or until the member's successor is appointed. All members of the Audit Committee shall have equal voting rights. The City Manager and Finance Director, or his/her designee, shall attend the meetings of the Audit Committee unless otherwise notified by the Chair that their presence is not required. Further, the City Manager, the Finance Director, or designee shall present a report at each meeting to the Audit Committee regarding the state of the City's finances. However, the City Manager and the Finance Director shall not be regarded as formal members of the Audit Committee.
B. The Audit Committee shall report to the City Council annually and supplement these reports from time to time as determined by the Audit Committee or the City Council.