HomeMy WebLinkAboutORD 1898OFF—
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BILL NO. g
ORDINANCE NO. 1898
AN ORDINANCE FOR THE CITY OF CALDWELL, A MUNICIPAL CORPORATION OF
IDAHO, AMENDING TITLE II, BY ADDING A NEW CHAPTER 17 , SECTION 1
THROUGH 7, CREATING AN AUDIT COMMITTEE: PERTAINING TO CREATION,
COMPOSITION, AUTHORITY AND RESPONSIBILITY, AUDIT COMMITTEE BYLAWS,
MEETINGS, ATTENDANCE, MINUTES, AND SAFEKEEPING AND CUSTODY:
REPEALING ALL ORDINANCES, RESOLUTIONS, ORDERS AND PARTS THEREOF IN
CONFLICT HEREWITH.
BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF
CALDWELL, COUNTY OF CANYON, STATE OF IDAHO:
Section 1. That the municipal code of the City of Caldwell be
amended to add a new Chapter 17, Title II, Section 1 through 8
establishing an Audit Committee as follows:
2- 17-1: CREATION: The Council hereby constitutes and establishes
an audit committee:
2 -17 -2: COMPOSITION: The Committee shall be comprised of five
members appointed by the Council, two of whom are members of
the Council Finance Committee, and three (the independent
members) who are independent of management and the independent
auditor. The independent members' terms shall be three years
and staggered so that the committee annually includes a new
independent member and independent members with one and two
years service. One independent member shall be appointed
chairman by the Council.
2 -17 -3: AUTHORITY AND RESPONSIBILITY: The audit committee is to
serve as a focal point for communication between the Council,
the independent auditor, internal auditor and management, as
their duties relate to financial accounting, reporting, and
internal controls and compliance. The audit committee is to
assist the Council in fulfilling its responsibilities as to
accounting policies and reporting practices of the City of
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Caldwell and sufficiency of auditing relative thereto. It is
to be the Council's principal agent in assuring the
independence of the City of Caldwell's independent auditors,
the integrity of management and the adequacy of disclosures to
the public. The opportunity for the independent auditors to
meet with the entire Council as needed is not to be
restricted, however. The committee shall oversee and advise
the Council and management on the selection of independent
auditors.
1 -17 -4: AUDIT COMMITTEE BYLAWS: The committee's operational
guidelines are set down in the Audit Committee Bylaws and may
be amended, after consultation with the Council, by a majority
vote of the independent members. The authority and
responsibility of the audit committee and the appointment and
terms of members are designated in the bylaws and are
incorporated herein by reference.
1 -17 -5: MEETINGS: The audit committee is to meet at least three
times per year and as many times as the committee deems
necessary.
1- 17' -6: ATTENDANCE: Members of the audit committee are to be
present at all meetings. As necessary or desirable, the
chairman may request that members of management, the director
of internal audit and representatives of the independent
auditor be present at a meeting of the committee.
1 -17 -7: MINUTES: Minutes of each meeting are to be prepared and
approved by the committee members and provided to the Council.
Approved minutes are to be available for public inspection.
Section 2. All ordinances or parts of ordinances inconsistent
herewith are hereby repealed.
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Section 3. This ordinance shall be in full force and effect
from and after its passage, approval, and publication according to
law.
PASSED BY THE CITY COUNCIL of the City of Caldwell this 6th
day of Ma y , 1991.
APPROVED BY THE MAYOR of the City of Caldwell this 6th day
of May , 1991.
ATTEST:
City Cle�
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