AC 4-28-2025 MinutesPage 1
City of Cupertino
Audit Committee Regular Meeting
Minutes
April 28, 2025
CALL TO ORDER
At 4:00 p.m., Chair Eno Schmidt called the special meeting to order in the City of Cupertino
Quinlan Conference Room, 10185 North Stelling Road.
ROLL CALL
Committee Members Present: Chair Eno Schmidt, Vice Mayor Kitty Moore, Councilmember
Sheila Mohan, Vice Chair Hanyan Wu
City Staff Present: Janet Liang, Jonathan Orozco, Kristina Alfaro, Richard Wong
Absent:
Guests: Jennifer Meza (PARS), Dennis Mullins (BPFM), Chelsea Ritchie (Moss Adams), Maria
Stroth (Moss Adams), Colleen Rozillis (Moss Adams), Carlos Oblites (Chandler), Sophia Kuo (The
Pun Group), Steve Toler (Baker Tilly)
ORDERS OF THE DAY
1.Subject: Approve Minutes of Special Meeting on February 28, 2025
Recommended Action: Approve Minutes of Special Meeting on February 28, 2025
MOTION: Vice Mayor Moore motioned to approve the minutes, Councilmember Mohan
seconded. The motion passed unanimously.
POSTPONEMENTS
ORAL COMMUNICATIONS
OLD BUSINESS
NEW BUSINESS
2.Subject: ACTION ITEM Appoint Audit Committee Chair and Vice Chair
Recommended Action: Appoint Audit Committee Chair and Vice Chair
Jonathan Orozco provided an overview.
No public comment.
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MOTION: Councilmember Mohan motioned to nominate Chair Schmidt as chair
again,Vice Mayor Moore seconded. Chair Schmidt nominated Committee member
Hanyan as Vice Chair. An amendment was made to the motion to nominate Committee
member Hanyan Wu as Vice Chair. The motion passed unanimously.
3. Subject: INFORMATIONAL ITEM Receive OPEB & Pension Section 115 Trust
Performance Report for Quarter Ending March 31, 2025
Recommended Action: Receive OPEB & Pension Section 115 Trust Performance Report
for Quarter Ending March 31, 2025
Dennis Mullins provided a presentation and overview.
Committee members asked questions and made comments.
No public comment.
Audit Committee received the report.
4. Subject: INFORMATIONAL ITEM Receive the Internal Audit and Fraud, Waste, and
Abuse programs update
Recommended Action: Receive the Internal Audit and Fraud, Waste, and Abuse
programs update
Chelsea Ritchie and Colleen Adams provided a presentation and overview.
Committee members asked questions and made comments.
No public comment.
Audit Committee received the report.
5. Subject: ACTION ITEM Internal Audit Work Program Review
Recommended Action: Receive the Internal Audit Work Program and forward to City
Council for approval
Maria Stroth provided a presentation and overview.
Committee members asked questions and made comments.
No public comment.
MOTION: Vice Mayor Moore motioned to receive the report and forward to City Council
for approval, Committee member Wu seconded. The motion passed unanimously.
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6. Subject: ACTION ITEM Annual Review of the City’s Investment Policy
Recommended Action: Annual Review of the City’s Investment Policy and forward to
City Council for Adoption
Jonathan Orozco provided an overview.
Committee members asked questions and made comments.
No public comment.
Chair Schmidt requested staff update the policy to spell out that there is an OPEB policy
and a Pension Trust policy to provide more clarity and update the date of when the policy
was approved by City Council on December 3, 2025.
MOTION: Vice Mayor Moore motioned to receive the report and forward to City Council
for Adoption, Councilmember Mohan seconded. The motion passed unanimously.
7. Subject: INFORMATIONAL ITEM Receive the Single Audit and Agreed Upon
Procedures (AUP) Reviews - GANN Limit, Investment Policy, Storm Drain
Recommended Action: Receive the Single Audit and Agreed Upon Procedures (AUP)
Reviews - GANN Limit, Investment Policy, Storm Drain
Jonathan Orozco and Sophia Kuo provided an overview.
Committee members asked questions and made comments.
No public comment.
Audit Committee received the report.
8. Subject: ACTION ITEM Updated Budget Format Implementation Action Plan (IAP)
Recommended Action: Receive the Updated Budget Format Implementation Action
Plan (IAP) and forward to City Council for approval.
Kristina Alfaro provided an overview.
Committee members asked questions and made comments.
No public comment.
MOTION: Councilmember Mohan motioned to receive the Updated Budget Format
Implementation Action Plan (IAP) and forward to City Council for approval Committee
member Wu seconded. The motion passed unanimously.
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9. Subject: INFORMATIONAL ITEM Receive the proposed Audit Committee 2025
Schedule and Workplan
Recommended Action: Receive the proposed Audit Committee 2025 Schedule and
Workplan
Jonathan Orozco provided an overview.
Committee members asked questions and made comments.
No public comment.
Audit Committee received the report.
STAFF AND COMMITTEE REPORTS
COMMITTEE MEMBER ATTENDANCE AT UPCOMING MEETINGS AND EVENTS
FUTURE AGENDA SETTING
ADJOURNMENT
The meeting adjourned at 6:16 p.m.
Recording Secretary:
Janet Liang, Senior Management Analyst