Audit 04-27-00
City of Cupertino
Audit Committee
Regular Meeting
April 27, 2000
1.
CALL TO ORDER
At 10:40 a.m. Carol Atwood called the meeting to order in Conference Room A of
Cupertino City Hall, 10300 Torre Avenue, Cupertino.
ROLL CALL
2.
Council members present: Richard Lowenthal, Sandra James
City staff present: Carol Atwood, Don Brown
Community Representatives: Tom Hall, Emily Wagner
3.
APPROVAL OF MINUTES
Tom Hall moved to approve the minutes of January 27, 2000. Sandra James seconded
and motion carried unanimously.
4.
NEW BUSINESS
A.
Auditor Selection
Carol Atwood discussed the audit RFP process and stated that the city only
received four responses out of twenty-one requests. The Big Five CPA firms are
only bidding on large governmental clients and regional firms appear to be getting
out of this industry due to low realization and higher costs associated with
specialized training. The committee discussed the four proposals and directed
Tom Hall and Carol to check references and interview the firms of:
. Caporicci, Cropper & Larson
. Maze & Associates
. Moss, Levy & Hartzheim
A special committee meeting will be held on May 19 to discuss the
recommendation from this subcommittee.
B.
InvestmentsIBanking Services
The February 2000, investment report was reviewed. We have increased the
percentage of the portfolio in treasury notes and are in full compliance with our
investment policy. As to banking services, the city is implementing "same day
deposit" for credit card transactions to alleviate excessive staff time to reconcile
credit card postings. We anticipate timesavings of one hour per day.
c.
Computer Conversion
Finance is continuing to hold weekly conference calls with our software vendor to
clear up outstanding issues. In addition, we will be automating our interface with
the Park and Recreation software next month to eliminate duplicate records
processing.
April 27,2000
Audit Committee
Page 2
5.
ADJOURNMENT
The meeting was adjourned at 11: 18 a.m. to May 19 at 10:30 a.m.
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Caro twoo
Director of Administrative Services