AC 07-25-2022 AgendaCITY OF CUPERTINO
AUDIT COMMITTEE
AGENDA
This is a teleconference meeting without a physical location.
Monday, July 25, 2022
2:30 PM
Regular Meeting
TELECONFERENCE / PUBLIC PARTICIPATION INFORMATION TO HELP STOP THE
SPREAD OF COVID-19
In accordance with Government Code 54953(e), this will be a teleconference meeting
without a physical location to help stop the spread of COVID-19. Members of the public
wishing comment on an item on the agenda may do so in the following ways :
1) E-mail comments by 9:00 a.m. on Monday, July 25 to the Audit Committee at
AuditCommittee@cupertino.org. These e-mail comments will be received by the Audit
Committee members before the meeting and posted to the City’s website after the meeting.
2) E-mail comments during the times for public comment during the meeting to the Audit
Committee at AuditCommittee@cupertino.org. The staff liaison will read the emails into
the record, and display any attachments on the screen, for up to 3 minutes (subject to the
Chair’s discretion to shorten time for public comments). Members of the public that wish to
share a document must email AuditCommittee@cupertino.org prior to speaking.
3) Teleconferencing Instructions
Members of the public may observe the teleconference meeting or provide oral public
comments as follows:
Oral public comments will be accepted during the teleconference meeting. Comments may
be made during “oral communications” for matters not on the agenda, and during the
public comment period for each agenda item .
To address the Audit Committee, click on the link below to register in advance and access
the meeting:
Register in advance for this webinar:
https://cityofcupertino.zoom.us/webinar/register/WN_0J6fgXA1QS2jOA_Pnopj-g
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Audit Committee Agenda July 25, 2022
Phone
Dial: 669-900-6833 and enter Webinar ID: 937 2807 3524 (Type *9 to raise hand to speak, *6 to
unmute yourself). Unregistered participants will be called on by the last four digits of their
phone number.
Or an H.323/SIP room system:
H.323:
162.255.37.11 (US West)
Meeting ID: 937 2807 3524
SIP: 93728073524@zoomcrc.com
After registering, you will receive a confirmation email containing information about
joining the webinar.
Please read the following instructions carefully:
1. You can directly download the teleconference software or connect to the meeting in your
internet browser. If you are using your browser, make sure you are using a current and
up-to-date browser: Chrome 30+, Firefox 27+, Microsoft Edge 12+, Safari 7+. Certain
functionality may be disabled in older browsers, including Internet Explorer .
2. You will be asked to enter an email address and a name, followed by an email with
instructions on how to connect to the meeting. Your email address will not be disclosed to
the public. If you wish to make an oral public comment but do not wish to provide your
name, you may enter “Cupertino Resident” or similar designation.
3. When the Chair calls for the item on which you wish to speak, click on “raise hand.”
Speakers will be notified shortly before they are called to speak.
4. When called, please limit your remarks to the time allotted and the specific agenda topic .
In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to
attend this teleconference 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 6
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.
ROLL CALL
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Audit Committee Agenda July 25, 2022
ORDERS OF THE DAY
APPROVAL OF MINUTES
1.Subject: Approve Minutes of Regular Meeting on June 27, 2022
Recommended Action: Approve Minutes of Regular Meeting on June 27, 2022
A- Draft Minutes
2.Subject: Approve Minutes of Regular Meeting on July 1, 2022
Recommended Action: Approve Minutes of Regular Meeting on July 1, 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
NEW BUSINESS
3.Subject: Consider receiving OPEB & Pension Section 115 Trust Performance Report for
Quarter Ending June 30, 2022
Recommended Action: Receive OPEB & Pension Section 115 Trust Performance Report
for Quarter Ending June 30, 2022
Presenter: PARS and US Bank
A - OPEB & Pension Section 115 Trust Performance Report for Quarter Ending June 30, 2022
4.Subject: Consider the Monthly Treasurer's Investment Report for June 2022
Recommended Action: Review the Monthly Treasurer's Investment Report for June
2022 and recommend filing with City Council
Presenter: Thomas Leung, Senior Management Analyst
Staff Report
A - Chandler Investment Report June 2022
B - Chandler Custodial Statement June 2022
C - PARS Pension and OPEB Account Statement June 2022
D - LAIF Account Statement June 2022
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Audit Committee Agenda July 25, 2022
5.Subject: Consider the Monthly Treasurer's Report for June 2022
Recommended Action: Review the Monthly Treasurer's Report for June 2022 and
recommend filing with City Council
Presenter: Thomas Leung, Senior Management Analyst
Staff Report
A - Report of City-wide Receipts, Disbursements, and Cash Balances June 2022
B - Report of City-wide Fund Balances June 2022
C – Weekly Payment Register for Period Ending June 6, 2022
D – Weekly Payment Register for Period Ending June 13, 2022
E – Weekly Payment Register for Period Ending June 20, 2022
F – Weekly Payment Register for Period Ending June 27, 2022
G – Weekly Payment Register for Period Ending July 4, 2022
6.Subject: Consider an overview of the Budget Format Review Subcommittee's mission
Recommended Action: Receive an overview of the Budget Format Review
Subcommittee's mission
Presenter: Thomas Leung, Senior Management Analyst
A - Sub-Committee Initial Comments on Budget Format Review
B - Sub-Committee Formal Memorandum on Budget Format Review
C - City staff's responses to the November 12, 2019 Memo
D - Budget Format Review Update
E - Questions Regarding the Current Budget Report
F - Audit Committee Budget Format Comments and Requests
G - Budget Format Review Subcommittee
7.Subject: Consider the Audit Committee 2022 Schedule and Work Plan
Recommended Action: Receive Audit Committee 2022 Schedule and Work Plan and
provide direction to staff
Presenter: Lizz Cook, Interim Finance Manager
A - Proposed Audit Committee 2022 Schedule and Work Plan
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.
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Audit Committee Agenda July 25, 2022
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 .
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