Audit 01-23-03
City of Cupertino
Audit Committee
Regular Meeting
January 23,2003
1.
CALL TO ORDER
At 3:33 p.m., Carol Atwood called the meeting to order in Conference Room A,
Cupertino City Hall, 10300 Torre Avenue.
2.
ROLL CALL
Community Members: Tom Hall
City Staff: Carol Atwood, Carol Ferrell, Dorothy Steenfott
City Council: Michael Chang, Dolly Sandoval
Absent: Gillian Enos
3.
APPROVAL OF MINUTES
Hall moved to approve the minutes of the regular meeting of October 17, 2002. Sandoval
seconded and motion passed unanimously with Enos absent.
4.
NEW BUSINESS
A.
Sarbanes-Oxley Act
Carol Atwood described the checklist and reviewed each item with the committee.
The committee recommended that the ordinance be revised to reflect the
following changes: 1) change Carol Atwood to a non-voting member and staff
liaison and 2) allow at least two but no more than three community members to
serve on the committee.
It was also decided that the committee should approve any additional services,
which are provided by the auditor.
B.
Approve Comprehensive Annual Financial Report
Atwood reported that the city had received a clean audit and reviewed several key
areas of the document.
c.
Investment Report and Policy
Atwood stated that there were no changes to the policy for 2003 and that it would
be presented to council in February.
D.
Streamline Ratification and Approval Process for Budgeted Payroll and Accounts
Payable Checks
Atwood stated that according to the law it was not necessary for council to
approve warrants each month. The committee discussed the process and decided
to continue the current process and approve warrants at each council meeting.
January 23,2003
Audit Committee
Page 2
E.
Confirm Meeting Dates
Future meeting dates for 2003 are April 17, July 17 and October 16 at 4:00 p.m.
5.
ADJOURNMENT
The meeting was adjourned at 4:35 p.m.