Audit Committee Meeting

Minutes Thursday, December 11, 2014 Audit Committee Meeting 4:00 PM Sioux Falls City Council Carnegie Town Hall 235 West 10th Street Members Present: Council Members Christine M. Erickson, Rick Kiley, Dean Karsky, Rex Rolfing and Committee Member Arnold Martens Members Absent: Committee Members Jason Forbes and Seth Peterson Staff Present: Internal Audit Manager Rich Oksol; Internal Auditor Kim Schroeder; Internal Auditor Jess Bickett; Tamara Jorgensen, MMC, Assistant City Clerk; David Bixler, Budget Analyst and Jim David, Legislative/Operations Manager 1. Call To Order Committee Chair Rex Rolfing called the meeting to order at 4:00 p.m. 2. Meeting held on Thursday, October 16, 2014 A motion was made by Council Member Rick Kiley and seconded by Committee Member Arnold Martens to approve the minutes. Rolfing called for a voice vote and all members voted yes. Motion Passed. 3. Reports and Updates A. Update from Dean Buckneberg, Eide Bailly, L.L.P., - External Audit of the City's 2014 Financial Statements Rich Oksol, Internal Audit Manager, introduced Dean Buckneberg, Service Team Communication Partner, and Brian Stavenger, Service Team Engagement Partner, both with Eide Bailly, LLP. They presented the External Audit Report of the City of Sioux Falls. Stavenger participated in the meeting via conference call. Stavenger reviewed a PowerPoint presentation covering the following topics: the audit objectives; the audit approach; the new accounting changes; and the risk assessments. Discussion followed. B. Review - 2015 Annual Audit Plan Oksol provided an update on the 2015 Annual Audit Plan. Discussion followed.  A motion was made by Committee Member Arnold Martens and seconded by Council Member Dean Karsky to approve this Plan. Rolfing called for a voice vote. All members voted yes. Motion Passed. C. Review - 2014 Internal Audit Annual Report Oksol provided an update on the 2014 Internal Audit Annual Report. Discussion followed. A motion was made by Council Member Christine M. Erickson and seconded by Council Member Rick Kiley to approve this Report. Rolfing called for a voice vote. All members voted yes. Motion Passed. D. Update by Rich Oksol - Mid-America Intergovernmental Audit Forum Oksol provided an update on the Mid-America Intergovernmental Audit Forum. Discussion followed. 4. Travel Request A. 2015 ALGA Annual Conference in San Diego, CA, May 3-5, 2015 - Kim Schroeder Oksol stated this training will provide additional hours of continuing professional education related to auditing in local government. A motion was made by Council Member Dean Karsky and seconded by Council Member Christine M. Erickson to approve this travel request. Rolfing called for a voice vote on that motion and all members voted yes. Motion Passed. 5. Open Discussion Oksol spoke about receiving a request from a city director asking if the audit outcome information could be shared with other directors. The example used was an audit done on cell phones and a cell phone form was changed – other departments were not aware of the form change and had been using an outdated document. Rolfing stated this was a good idea. He encouraged the Internal Auditors to share audit results, when those results can help other departments as well. 6. Adjournment Committee Chair Rex Rolfing adjourned the meeting at 5:00 p.m. Tamara Jorgensen, MMC Assistant City Clerk