HomeMy WebLinkAbout04/06/2011 AC MinutesAUDIT COMMITTEE
MINUTES OF THE MEETING HELD
APRIL 6, 2011
3RD FLOOR EXECUTIVE CONFERENCE ROOM —VILLAGE HALL
I. Call to Order
The meeting was called to order at 5:34pm. Members present were Mayor Irvana Wilks,
Committee Chair Tom Munz, Committee members Matuszak and Grochocinski and
Finance Director David Erb. Ron Amen of Lauterbach and Amen were also present.
II. Approval of Minutes
Approval of Minutes for June 18, 2010. Motion to approve was made by Grochocinski
and a second was made by Mayor Wilks. 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. 2010 Year End Review — Discussion on preliminary year -end results was held.
Director Erb presented on various aspects of the 2010 results of operations.
Budget versus actual spending, budget transfers and budget amendments were
among areas highlighted in the presentation. Also discussed were the Village's
receipt of 2009 Certificate of Achievement Award from the GFOA and progress
on the ERP implementation. Discussion among committee members followed.
b. Status of 2010 Deep Dive — 2010 deep dive (utility billing) was deferred due to
timing of the implementation of the utility billing module. The process for
implementing the new utility billing module was not going to start until late
summer 2011. The decision to not pursue alternative review during 2010
resulted from staffing issues and changeover in Utility Billing Clerk position.
Discussion among group members followed. Decision was to pursue the utility
billing review during Q3 of 2011.
c. Review of Engagement Letter for 2010 Audit — Director Erb presented the
2010 audit engagement letter to committee members. Discussion on terms and
conditions for the engagement followed. Motion to approve the engagement
letter was made by Grochocinski and a second was made by Matuszak.
Engagement letter was approved.
Audit Committee - Minutes
April 6, 2011
d. Discussion on Auditor In -Depth Review - Discussion on the area of focus for
the auditor in -depth review took place. Areas of focus included payroll (including
overtime) and purchasing. After general discussion among committee members
and Mr. Amen it was decided that the utility billing deep dive will be addressed
first in Q3 of 2011 and an area to be recommended by Lauterbach & Amen
would be addressed in Q4 of 2011. Motion to approve the engagement letter
was made by Grochocinski and a second was made by Mayor Wilks. Direction
for deep dive was approved.
VI. Other Business
There was no Other Business.
VII. Chair Report
No report.
VIII. Director of Finance Report
No report.
IX. Next Meeting
TBD
X. Adjournment
Motion to adjourn was made by Mayor Wilks and a second was made by Grochocinski.
The meeting adjourned at 6:53pm
Respectfully Submitted
David O. Erb
Finance Director