HomeMy WebLinkAbout2020-08-27 Audit Committee Miinutes APPROVED•
�1Annual Audit Committee Meeting
MINUTES
CITY OF CALDWELL Date Z// /202
August 27, 2020
12:00 p.m.
(ROLL CALL)
The annual pre-audit committee meeting convened at 2:00 p.m. via ZOOM.
Those present included; Finance Director Carol Mitchell, Deputy Treasurer Rachelle
Castleberry, Council members John McGee and Dennis Callsen, Eide Bailly Auditors Morgan
Browning and Jodi Daugherty, Washington Trust Bank Representative Eric Randall, and retired
Finance Director ElJay Waite.
(CONSENT CALENDAR)
1) Approve minutes from January 27th, 2020 Post-Audit Meeting
MOVED by Waite, SECONDED by McGee to approve the Consent Calendar as printed.
MOTION CARRIED
(TOPICS DISCUSSED)
Planning of FY2020 Audit Schedule:
• FY2020 audit will be done remotely. Documents will be transferred via the Eide Baily portal.
A new portal will be implemented on 11.1.20 prior to that time frame the old portal will be
used.Tentative audit schedule for the city is as follows:
o 10/5—Planning and Single Audit
o 11/30—Field Work
o 12/14—Wrap up
FY2020 GASB Updates
• No new GASB implementations. GASB 87 and GASB 84 effective dates were delayed due to
COVID.The city plans to implement both in FY2021.
o Auditor have a potential software we can use to help manage the City Leases for
GASB 87 implementation.
FY2020 summary
• No major software changes other than in within the public works departments. Project Docs
was purchased to be used by Engineering, Building, Mapping, and P&Z to help with
distancing requirements due to COVID-19.
• Reviewed major URA and Airport land purchases in FY2020 including 711 Cleveland and
5104 East linden. Reviewed major infrastructure projects that were started such as Fire
Station#3 Building and progress on downtown development.
Al . •
• Discussion of how COVID-19 has effective UB collections if at all. No known changes to date
but will be keep an eye on in FY2021.
• Gaps in workflow due to working from home being minimal within the finance department
• Auditors may focus more on revenue testing this year and prior to current year
comparisons.
CFAC Funds and Single Audit
• Review of CFAC programs and funds spent as of 9.30.20
o Purchase of CEC Fire sprinkler system will be approx. 65,000 and UV lighting
equipment in the amount of 200,000 if all equipment is received by year end. The
City is not participating in the small business grant. A workshop is scheduled for the
public safety initiative in which it will not be recommended that the city participate.
o Concerns were expressed by Mr. Waite on CFAC funding being used as revenue
replacement and recommended additional guidance from OIG or Treasury on
whether or not this is ok.
o Concerns also presented bay Carol Mitchell on paying back the URA to keep them
whole.
o Concerns expressed by auditors as well on assumptions being made for the public
safety#'s being used by entities.
• Now that the city has required a Single Audit for the prior two years the City is now
considered a low risk auditee.
• CFAC program will likely be a program subject to Audit in FY20.
Motion to adjourn.