HomeMy WebLinkAbout08/20/2013 AC Minutes AUDIT COMMITTEE
MINUTES OF THE MEETING HELD
AUGUST 20, 2013
3RD FLOOR EXECUTIVE CONFERENCE ROOM—VILLAGE HALL
I. Call to Order
The meeting was called to order at 6:07pm. Members present were Mayor Arlene
Juracek, and Committee members Vince Grochocinski, John Matuszak, Tim McDermott
and Tom Munz. Finance Director David Erb was also in attendance.
II. Approval of Minutes
Approval of Minutes for May 22, 2012. Motion to approve was made by Vince
Grochocinski and a second was made by Tom Munz. Minutes were approved.
III. Citizens to be Heard
There were no citizens to be heard.
IV. Old Business
There was no old business
V. New Business
a. Election of Audit Committee Chair— Mayor Juracek nominated Tom Munz to be Chair
of the Audit Committee. Trustee Matuszak seconded the nomination. A voice vote was
taken and nomination passed.
b. Election of Other Audit Committee Officer Positions - Chairman Munz nominated
Tim McDermott to be Vice Chair of the Audit Committee. Trustee Matuszak seconded
the nomination. A voice vote was taken and nomination passed.
Chairman Munz nominated Finance Director Dave Erb to be Secretary of the Audit
Committee. Trustee Matuszak seconded the nomination. A voice vote was taken and
nomination passed.
c. Discuss 2013-2014 Workplan — Chair Munz discussed the draft workplan that was
distributed to Committee members. Discussion centered on presentation of 2012 audit,
internal controls and deep dive review of a financial process. Also discussed was the
auditor selection process to begin summer 2014. The upcoming deep dive will focus on
the utility billing process. The cash receipts/miscellaneous billing process is being
considered for the final deep dive.
VI. Other Business
There was no other business.
Audit Committee—Minutes
August 20, 2013
VII. Chair Report
Chair Munz discussed the potential for implementing an internal audit function.
Structure of the process has not yet been determined. One option would be to
outsource this task. General discussion followed. This item will be brought up in a
future Audit Committee meeting.
VIII. Finance Director Report
There was no Finance Director report.
IX. Next Meeting
Next meeting date has not been determined.
X. Adjournment
Motion to adjourn was made by Tim McDermott and a second was made by Vince
Grochocinski. The meeting adjourned at 6:57pm.
Respectfully Submitted
David O. Erb
Finance Director
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