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CHUCK ENGELKEN, CHAIR L JOHN ZEMANEK <br /> Councilmember District 2 0 C Coun At -Large A <br /> Alternate Member 1 <br /> DARYL LEONARD <br /> Councilmember District 3 0 �� �;�m <br /> JAY MARTIN <br /> ` ` �} Councilmember District 5 <br /> TOMMY MOSER { Alternate Member 2 <br /> Councilmember District 4 <br /> J <br /> MINUTES OF MEETING OF FISCAL AFFAIRS COMMITTEE <br /> AUGUST 15, 2011 <br /> The Fiscal Affairs Committee met on August 15, 2011, at 5:00 p.m. in the La Porte City Hall Council <br /> Chambers, 604 West Fairmont Parkway, La Porte, Texas, to consider the following items of business: <br /> 1. Call to Order <br /> Chairman Chuck Engelken called the meeting to order at 5:00 p.m. Committee Members present <br /> were Councilmember Daryl Leonard; Councilmember Tommy Moser; and Councilmember Jay <br /> Martin, Alternate Member 2. Absent: Councilmember John Zemanek, Alternate Member 1. <br /> Councilmember Dottie Kaminski attended the meeting. <br /> 2. Approve and sign the engagement letters from Null - Lairson for the City of La Porte and La <br /> Porte Area Water Authority — M. Dolby <br /> Finance Director Michael Dolby and Tom Pedersen with Null - Lairson discussed engagement letters <br /> for the City of La Porte and the La Porte Water Authority. The Committee was informed the La <br /> Porte Development Corporation would be included as a part of the City audit processes utilizing <br /> random sampling. If the Committee desires an additional audit of the La Porte Development <br /> Corporation, a separate engagement letter would be required. <br /> Chairman Engelken advised Mr. Dolby the Committee does want a full audit of the La Porte <br /> Development Corporation transactions for the past two years, and a separate engagement letter <br /> would be needed. The Committee will meet August 22 at 5 :00 p.m. to approve an additional <br /> engagement letter for the La Porte Development Corporation. <br /> Committee Member Leonard questioned Mr. Pederson on how random samplings are determined. <br /> Mr. Pederson responded the population is determined with a random number generator being <br /> applied to the population. The firm is also required, as part of the audit, to form judgments on <br /> transactions that come up during an audit were in compliance with state laws and regulations. <br /> Committee Member Moser questioned if an opinion or findings would be expressed after the audit. <br /> Mr. Pederson responded an opinion would be expressed, but the firm does not provide an opinion <br /> on internal controls. It will provide an opinion on management comments and findings. Mr. <br /> Pederson informed the Committee that the firm is required to report any instances of <br /> non - compliance during an audit. <br /> Chairman Engelken questioned if the water loss during water main breaks would be tested. Mr. <br /> Pederson responded the firm would audit water consumption in utility billings and perform an <br /> analytical type of review. <br /> Page 1 of 2 <br /> August 15, 2011, Fiscal Affairs Committee Minutes <br />