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Home My WebLink AboutSubmittal-Report-Audit Advisory Committeew w w w w w w w w w w w w w iw w w w w Audit Advisory Committee Wednesday, March 13, 2013 -f -_ pV' f �U/� 13-00/97-Sub✓r7i �- ge�r v/SOry Cooirvi IiLe Submitted into the public record in connection liyith items Z1 on on/Li 13 Todd B. Hannon City Clerk � Purpose To review the annual audit of city accounts performed by the independent auditor. Review the annual management letter developed by the independent auditor. Review the system of internal control utilized by the city. Review the city's compliance with the GASB (Government Accounting Standards Board) guidelines and requirements. Review internal audit reports where it is felt by the internal auditor that fraud or criminal conduct may be involved, to the extent that it does not compromise criminal investigations. Review the city manager's recommendation for selection of an independent auditor if requested by or directed by the city commission. Wednesday, March 13, 2013 Submitted into the public record in connection with items on 0//`////3 Todd B. Hannon City Clerk 2 OM L EMI r NM N IIIIII r IMP =I r =I IMO Si - Structure • Committee Chair and 4 Members • Multi -Task with Tax Season (April -December) • Convened 21 times in the period (2008 - 2012) Submitted into the public record in connection with , items f on 6:1'f%/'? Todd B. Hannon City Clerk Wednesday, March 13, 2013 3 MI I - - - M I - MI = r - - = M - Wednesday, March 13, 2013 Constituted in 1981 Reporting Period 2008 - 2012 Significant Events • Independent Auditor Selection Process (2011) • New Internal Auditor (2012) • Three Directors of Management & Budget • Two Directors of Finance (1 Interim Director) • Two Chief Financial Officers • Two SEC Investigations • One IRS Inquiry Submitted into the public recordin connection wjt� j3 items .=•2 on / Todd B. Hannon City Clerk 4 MI NMI 11= INIII M 11= MINI r Mil r r N M I N N I N Committee Workload For Fiscal Year 2012 • 12-016 Audit of Compliance with Commercial Solid Waste Franchise Agreement/Waste Services USA, Inc. • 12-017 Audit of Compliance with Commercial Solid Waste Franchise Agreement/Waste Management • 12-012 Audit of Cit ployees' Pension Plan Benefit Calculations • 12-003 Audit of Compliance with the Financial Integrity Principles Wednesday, March 13, 2013 Submitted into the public record in connectionnsviitth items _,,� ., _ on W/V7 .i Todd B. Hannon City Clerk 5 11111 1 NMI MI N NM s M-- I- r IN NIS ■r ■r INS Committee Workload • 12-001 Audit of the Educational Trust Fund Established for Scholarship Awards to the Dependents • 12-006 Audit of Compliance with Commercial Solid Waste Franchise Agreement/Waste Management • 12-010 Audit of Compliance with Commercial Solid Waste Franchise Agreement/Waste Services of Florida Wednesday, March 13, 2013 Submitted into the public record in connection wi�th itemsOLL on °3//��3 Todd B. Hannon City Clerk 6 111111 — — N N — — r NIB — — I — IMr 1 — N Committee Workload For Fiscal Year 2012 • 11-014 Audit of Compliance with Commercial Solid Waste Franchise Agreement/S&S National Waste • 12-004 Audit of Compliance with Commercial Solid Waste Franchise Agreement/Eastern Waste Systems • 12-005 Audit of Compliance with Commercial Solid Waste Franchise Agreement/Lopefra Corporation • 11-014 Audit of Compliance with Commercial Solid Waste Franchise Agreement/S&S National Waste Wednesday, March 13, 2013 Submitted into the public record in connection with items l.- on o3/77/3 Todd B. Hannon City Clerk 7 ■I - a--- r WM MI M N MI a N N r N N ■I Wednesday, March 13, 2013 Committee Workload For Fiscal Year 2012 48 separate Audit Reviews in the Period Submitted into the public record in connection with itemsL. on a 7i3 Todd B. Hannon City Clerk 8 11111 111111 Mil MINI MI NIB INS NM 0111111 NM NMI 1E11 NMI NMI 111111 11111 NIB Work Reviewed • Review of Waste Haulers • Identified $1.2M • Collected $1.2M • Continuing Process Wednesday, March 13, 2013 Submitted into the public record in connection with items Di- on OVf J73 Todd B. Hannon City Clerk e• 9 UM I M MI NM M OM M NM r MI M- MI r MI 1 I I Work Reviewed • Independent Auditor Reports • 2009 - 14 Audits • 2010 - 17 Audits • 2011 - 7 Audits • 2012 - 10 Audits Wednesday, March 13, 2013 Submitted into the public record in connection with items DZ. 1 on 00//iiii.3 Todd B. Hannon City Clerk 10 V MO On E I In In N MI I i N MO I I I IMP 1111111 Work Reviewed • Management Letter Findings • 2009 - 16 Findings - 2 Partial and 3 Recurring • 2010 - 5 Findings - 3 Partial and 2 Recurring • 2011 - 4 Findings - 5 Recurring • 2012 - in process Wednesday, March 13, 2013 Submitted into the public record in connection �Witp items DZ 4 on 03l/170.9 Todd B. Hannon City Clerk €4 4°11 11 Mr ®— I— ■IIII all M N 1— N OM r OM I IN. on s Work Reviewed • Improvements Seen • Bank Reconciliations • Waste Haulers • Audit Planning Wednesday, March 13, 2013 Submitted into the public record in connection with items DI. on 90/Pi/i3 Todd B. Hannon City Clerk 404 #N 12 NMI I NM SIM NMI OM E = I Work Reviewed • Improvements Needed • IT Security • Capital Coordination with Recording Assets • Grants Management Coordination and Monitoring: Centralization Wednesday, March 13, 2013 Submitted into the public record in connection / th/ items on �' Todd B. Hannon City Clerk ioN • 13 U--- i OM E N= M N MO OM r r M= MI i Work Reviewed • Path Forward • Management Representation, balance perspective with IAG or independent auditing firm • Follow -Up Audits • Increase internal control focus and tie audits with Management Letter Findings • Stability and Sustainability Wednesday, March 13, 2013 Submitted into the public record in connection yy,i, t items at. L on 0// /5 Todd B. Hannon City Clerk diN 14 Wednesday, March 13, 2013 QUESTIONS? Submitted into the public record in connection wi ltp items lfil `L- on Todd B. Hannon City Clerk 15