HomeMy WebLinkAbout08-02-11 Regular Meeting of Fiscal Affairs Committee CHUCK ENGELKEN, CHAIR 0@ L JOHN ZEMANEK
Councilmember District 2 p Councilmember At -Large A
Alternate Member 1
DARYL LEONARD v \ 1- m
Councilmember District 3 JAY MARTIN
Councilmember District 5
TOMMY MOSER Alternate Member 2
Councilmember District 4
MINUTES OF MEETING OF FISCAL AFFAIRS COMMITTEE
AUGUST 2, 2011
The Fiscal Affairs Committee met on August 2, 2011, at 3:00 p.m. in the La Porte City Hall Council
Chambers, 604 West Fairmont Parkway, La Porte, Texas, to consider the following items of business:
1. Call to Order
Chairman Chuck Engelken called the meeting to order at 3:01 p.m. Committee Members present
were Councilmember Tommy Moser; Councilmember Jay Martin, Alternate Member 2; and
Councilmember John Zemanek, Alternate Member 1. Absent: Councilmember Daryl Leonard.
Councilmember Dottie Kaminski was also present at the meeting.
2. Conduct interviews of Auditing Firms for Independent Auditor Services — M. Dolby
The Fiscal Affairs Committee interviewed the following firms for independent auditor services:
Null - Lairson, BKD, Weaver - Tidwell, Sandersen, Knox and Company, and Hereford, Lynch, Sellars
and Kirkham. The firms were asked the following questions:
1. Size of firm; number of CPAs; number of CPAs with municipal experience; diversity of
staff; and background of those assigned to the engagement.
2. Explain the testing of transactions for accounts receivable, cash, payroll and accounts
payable. Explain some of the tests that auditors perform to ensure revenues and
expenditures are accurate.
3. For how many municipalities has the firm performed a financial audit and expressed an
independent auditor's opinion.
4. How will the firm handle audit staff and client conflicts, explaining the philosophy for
issuing letters to management addressing significant deficiencies, material weaknesses
and other control deficiencies.
5. Does the firm have a software program to assist the client in preparation of the CAFR?
6. Explain how GASB 54 affects the City of La Porte and what steps should be taken to
implement the new standard.
The committee took a break at 4:39 p.m. and reconvened at 4 :43 p.m.
Interviews concluded at 5:40 p.m.
Per Chairman Engelken, the recommendation of the Fiscal Affairs Committee is to contract with
Null - Lairson as the auditing firm for independent auditing services.
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August 2, 2011, Fiscal Affairs Committee Minutes
3. Administrative Reports — R. Bottoms
There were no administrative reports.
4. Committee Comments — Matters appearing on agenda; recognition of community members, City
employees, and upcoming events; inquiry of staff regarding specific factual information or existing
policy.
There were no Committee comments.
5. Adjourn
There being no further business, Committee Member Moser moved to adjourn the meeting at 5:56
p.m.
Respectfully submitted,
Patrice Fogarty, Ci Secreta
Passed and approved on the 22 day of August, 2011.
Ca.u,e/k C^ip■titil
Chairman Chuck Engelken
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August 2, 2011, Fiscal Affairs Committee Minutes