09-17-2002 Special Called Regular Meeting

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Audit Committee Meeting Minutes -September 17, 2002 -Page 10 sent forward, often times receipts would follow and be filed. There are no significant changes in this process; the auditor thinks there were variances when someone was out, the other person may handle in a different way. The auditor has a request for the name of the people they interviewed, and the one person removed from the list. The reason she was removed is that she was not part of the process during the audit period. Under Tab 2, the auditor has the following revisions; see the 2°d set of columns dealing with charges of no support, you want to see what that looks like based on our review of the first set of information versus the second set of information. Slicing that information by type of expenditure, so you can see what's going on there. Then we are going to add some additional dollar information in the far right hand column, as it relates to transactions greater than, but not less than $500. We will provide you the same schedule, with the former employees removed, so you can see that information exit those dollars. We are not sure whether or not you want a copy of all of the documents under Tab 2 or maybe Tab 1, page 2. We will be glad to provide those to you. The final report should be ready on Monday, September 23, 2002. Because of time constraints, whatever questions you forward to me; the City would like as a tab listing the questions. You need to remember that some cardholders had a card a longer period of time than others. The auditor will not know what comes up after visiting their office, if delayed, we will have contact Chairperson Engelken. Tomorrow, each of Council will call to discuss and schedule interviews, plus the credit card holders to see where we stand. 5. Director of Finance Cynthia Alexander provided the Committee with an overview of the Third Quarter Investment Report. 6. Committee Comments Committee Member Howard Ebow thought the City was at the point that it of completion, but we still have more work to do. Committee Member James Warren is disturbed; he feels he was circumvented through this whole process. He has some questions, some of the things he heard during the interview stated this audit would solve and answer some of the questions. The City is back to square one. There is still much more work to accomplish. Committee Member Bruce Meismer feels the report was reasonably comprehensive, though there were other things he would of liked to have seen in the report. There is good information in the report; we could use this tool to garner some trends and activities. Councilmember Barry Beasley also felt the report was very comprehensive, they did a good j ob with the facts and trends. Chairperson Chuck Engelken was disappointed in the delays, and the timing of the interview. He feels there is no need to meet until the auditor is through gathering information. He feels like a traffic cop through this entire process.