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AC 04-25-2022 AgendaCITY OF CUPERTINO AUDIT COMMITTEE AGENDA 10300 Torre Avenue, City Hall Conference Room A Monday, April 25, 2022 4:00 PM Members of the public wishing to comment on an item on the agenda may do so in the following ways: 1) E-mail comments by 2 p.m. on Monday, April 25 to the Committee at AuditCommittee@cupertino.org. These e-mail comments will be received by the commission members before the meeting and posted to the City’s website after the meeting. ROLL CALL ORDERS OF THE DAY APPROVAL OF MINUTES 1.Subject: Approve Minutes of Regular Meeting on February 24, 2022 Recommended Action: Approve Minutes of Regular Meeting on February 24, 2022 A - Draft Minutes 2.Subject: Approve Minutes of Regular Meeting on March 28, 2022 Recommended Action: Approve Minutes of Regular Meeting on March 28, 2022 A - Draft Minutes POSTPONEMENTS ORAL COMMUNICATIONS This portion of the meeting is reserved for persons wishing to address the Committee on any matter within the jurisdiction of the Committee and not on the agenda. Speakers are limited to three (3) minutes. In most cases, State law will prohibit the Commission from making any decisions with respect to a matter not on the agenda. PUBLIC HEARINGS OLD BUSINESS Page 1 Audit Committee Agenda April 25, 2022 NEW BUSINESS 3.Subject: Consider receiving OPEB & Pension Section 115 Trust Performance Report for Quarter Ending March 31, 2022 Recommended Action: Receive OPEB & Pension Section 115 Trust Performance Report for Quarter Ending March 31, 2022 A - OPEB & Pension Section 115 Trust Performance Report for Quarter Ending March 31, 2022 4.Subject: Consider reviewing Treasurer's Investment Report for Quarter Ending March 31, 2022 and moving forward accept monthly investment reports to comply with the City's municipal code Recommended Action: Review and consider accepting Treasurer's Investment Report for Quarter Ending March 31, 2022 and moving forward accept monthly investment reports to comply with the City's municipal code Staff Report A - Treasurer's Investment Report for Quarter Ending March 31, 2022 5.Subject: Review and consider accepting City Investment Policy Recommended Action: Review and consider accepting City Investment Policy Staff Report A - Investment Policy (redline) B - Chandler Investment Policy Statement Review Memo 6.Subject: Consider receiving report on Interim Audit and AUP Engagements Recommended Action: Receive report on Interim Audit and AUP Engagements and provide direction 7.Subject: Consider receiving follow-up on Previous Fiscal Year Management Letter Items and Management Responses Recommended Action: Receive follow-up on Previous Fiscal Year Management Letter Items and Management Responses A - Cupertino Management Letter 2021 Draft B - Cupertino Single Audit 2021 Draft 8.Subject: Consider reviewing Monthly Treasurer's Report for March 2022 Recommended Action: Review Monthly Treasurer's Report for March 2022 and recommend filing with City Council Staff Report A - Report of City-wide Receipts, Disbursements, and Cash Balances March 2022 B - Report of City-wide Fund Balances March 2022 9.Subject: Consider receiving Audit Committee 2022 Schedule and Work Plan Page 2 Audit Committee Agenda April 25, 2022 Recommended Action: Receive Audit Committee 2022 Schedule and Work Plan and provide direction A - Proposed Audit Committee 2022 Schedule and Work Plan - 4.25.2022 STAFF AND COMMITTEE REPORTS FUTURE AGENDA SETTING ADJOURNMENT In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend this meeting who is visually or hearing impaired or has any disability that needs special assistance should call the City Clerk's Office at 408-777-3223, at least 48 hours in advance of the meeting to arrange for assistance. In addition, upon request, in advance, by a person with a disability, meeting agendas and writings distributed for the meeting that are public records will be made available in the appropriate alternative format. Any writings or documents provided to a majority of the members after publication of the agenda will be made available for public inspection. Please contact the City Clerk’s Office in City Hall located at 10300 Torre Avenue, Cupertino, California 95014, during normal business hours. IMPORTANT NOTICE: Please be advised that pursuant to Cupertino Municipal Code section 2.08.100 written communications sent to the Cupertino City Council, Commissioners or City staff concerning a matter on the agenda are included as supplemental material to the agendized item. These written communications are accessible to the public through the City’s website and kept in packet archives. Do not include any personal or private information in written communications to the City that you do not wish to make public, as written communications are considered public records and will be made publicly available on the City website. Members of the public are entitled to address the members concerning any item that is described in the notice or agenda for this meeting, before or during consideration of that item. If you wish to address the members on any other item not on the agenda, you may do so during the public comment . Page 3