Audit 10-18-06
City of Cupertino
Audit Committee
Regular Meeting
October 18, 2006
1. CALL TO ORDER
At 4:24 p.m., David Woo called the meeting to order at Cupertino City Hall, Conference
Room A, 10300 Torre Avenue, Cupertino.
2. ROLL CALL
Community Members: Myoung Kang, Garrett Wade
City Council: Kris Wang
City Staff: David Woo
Absent: Dolly Sandoval, Jim Weber
3. APPROVAL OF MINUTES
Wade moved to approve the minutes of the regular meeting of July 19, 2006. Wang
seconded and the motion passed unanimously with Weber and Sandoval absent.
4. ORAL COMMUNICATIONS
None
5. NEW BUSINESS
A. Audit Update
Woo reported that a draft review was in progress. He noted that there was one
finding in the RDA and that a formal review of the audit will be made to the
committee in January.
B. Workers' Compensation Actuarial Report.
Woo reviewed the trend information with the committee. He noted that claims
have been decreasing, but the cases are more severe.
C. Investment Report
The committee reviewed the report.
D. Fiscal Strategic Plan Update
Woo reported that AB 117 had passed and the city would be receIvmg
approximately $1.6 million more per year in property tax. He indicated that this
revenue would be added to the General Fund and will cover the costs of various
projects.
October 18,2006
Audit Committee Minutes
Page 2
6. OLD BUSINESS
A. Pentamation Update
It was noted that training was in progress for the Finance and Building modules.
The Code Enforcement module will be upgraded in January.
7. ADJOURNMENT
The meeting was adjourned at 4:57 p.m.