Audit Advisory Committee

51 Bald Eagle Drive City of Marco Island Florida Marco Island, Florida cityofmarcoisland.com Meeting Minutes - Final Audit Advisory Committee Tuesday, May 21, 2019 9:00 AM Community Room (1) CALL TO ORDER Chair Schroeder called the meeting to order at 9:00 A.M. (2) ROLL CALL Present: 6- Member Karter, Chair Schroeder, Member Adams, Vice-Chair Rogers, Member Miller and Member Hughes (3) APPROVAL OF THE AGENDA MOTION by Member Hughes, seconded by Member Karter, to approve the Agenda as amended. Remove item 6b-Next meeting for Oral Presentations. MOTION CARRIED BY THE FOLLOWING VOTE: Yes: 6- Member Karter, Chair Schroeder, Member Adams, Vice-Chair Rogers, Member Miller and Member Hughes (4) APPROVAL OF THE MINUTES ID 19-300 AAC Minutes of April 25, 2019 MOTION by Member Adams, seconded by Vice-Chair Rogers, to approve the April 25, 2019 Audit Advisory Committee Meeting Minutes as amended. Add to 5 A i. No Material Weakness MOTION CARRIED BY THE FOLLOWING VOTE: Yes: 6- Member Karter, Chair Schroeder, Member Adams, Vice-Chair Rogers, Member Miller and Member Hughes (5) NEW BUSINESS a. Oral Presentation by the three highest scored respondents to the RFP to provide audit services (30 minutes each): There were 3 Firms on the short list for the oral presentations: Keefe McCullough, Mauldin & Jenkins, and Moore Stephens Lovelace. The firms will give a 30 minute presentation in alphabetical order. There will be no competitive advantage of over-hearing any of the other firms being televised because the competitive firms will be taken to another location. i. Keefe McCullough ii. Mauldin & Jenkins iii. Moore Stephens Lovelace City of Marco Island Florida Page 1 Audit Advisory Committee Meeting Minutes - Final May 21, 2019 b. Review of oral presentations and recommendation to City Council After the 3 Firms gave their oral presentations, the Audit Advisory Committee had to rank the firms by 1st, 2nd and 3rd place. The firm receiving the lowest scoring would be the firm that would be recommended to the City Council for consideration. It is noted for the record, all three (3) audit firms were present in the room during the scoring. The total scores were as follows ( Audit Advisory Committee members individual breakdowns attached) SCORE Maudlin and Jenkins 11 Moore Stephens Lovelace 12 Keefe McCullough 13 One member of the AAC will present the results to City Council on June 3, 2019. MOTION by Vice-Chair Rogers, seconded by Member Adams, to forward the results of this process to City Council. MOTION CARRIED BY THE FOLLOWING VOTE: Yes: 6- Member Karter, Chair Schroeder, Member Adams, Vice-Chair Rogers, Member Miller and Member Hughes ID 19-379 Final Scoring Sheets, Rankings and Florida Statutes c. AAC hours – All (provide the number of hours spent on AAC efforts, including today’s meeting) Dick Adams-2 Hours Robert Hughes- 2 Hours Jim Karter-12 Hours Jim Miller-4 Hours William Rogers-4 Hours Bill Schroeder-2 Hours (6) PATH FORWARD a. Presentation to City Council on Auditor selection recommendation – AAC Chair (June 3, 2019) The presentation to City Council will be on June 3, 2019 -Eight (8) Respondents -Four (4) Criteria used to rank the 8 firms a. ability and experience of the assigned personnel b.experience of the firm c. ability to furnish required services d. total compensation proposed -Three (3) Firms chosen for oral presentation - The Audit Advisory Committee discussed M&J choice Lina reread the 2018 Florida Statute 328.394(b) pertaining to Auditor selection procedures (which can be viewed under file id 19-379 under item 5-b) The assigned Audit Advisory Committee member will present to City Council. b. Next meeting date for oral presentations, if necessary City of Marco Island Florida Page 2 Audit Advisory Committee Meeting Minutes - Final May 21, 2019 This item was removed from the Agenda. (7) PUBLIC COMMENT - None (8) ADJOURNMENT There being no further business, the meeting adjourned at 11:01 A.M. Respectfully, Lori Rizzo NOTE: TWO OR MORE CITY COUNCILORS OR OTHER COMMITTEE MEMBERS MAY BE PRESENT City of Marco Island Florida Page 3