Audit Committee Meeting

Draft minutes until approved at the next meeting MINUTES Wednesday December 16, 2015 Audit Committee Meeting 4 PM Sioux Falls City Council Carnegie Town Hall 235 West 10th Street Members Present: Council Member Rex Rolfing, Audit Committee Member Jason Forbes, Audit Committee Arnold Martens, Audit Committee Member Seth Peterson, Council Member Dean Karsky Members Absent: Council Member Michelle Erpenbach, Council Member Rick Kiley Staff Present: Internal Audit Manager Rich Oksol; Internal Auditor Ashley Stroschein; Lorie Hogstad, City Clerk; and David Bixler, Budget Analyst Staff Absent: Internal Auditor Kim Schroeder 1. Call To Order Committee Chair Rex Rolfing called the meeting to order at 4 p.m. 2. Introduce new Internal Auditor, Ashley Stroschein 3. Approval of Minutes A. Meeting held on Wednesday, September 16, 2015 A motion was made by Committee Member Arnold Martens and seconded by Committee Member Seth Peterson to approve the minutes dated Wednesday, September 16, 2015. Rolfing called for a voice vote and all members voted yes. Motion Passed. 4. Reports and Updates A. Update on external audit of City’s 2015 financial statements-Dean Buckneberg, partner, from Eide Bailly LLP Dean Buckneberg, Service Team Communication Partner, and Brian Stavenger, Service Team Engagement Partner, both with Eide Bailly, LLP, presented the planning meeting for 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 slides: Service Team; Audit Objectives; Audit Approach; New Accounting Changes; Risk Assessment. Discussion followed. B. Review 2016 Annual Audit Plan Oksol provided an update on the 2016 Annual Audit Plan. Discussion followed. A motion was made by Council Member Dean Karsky and seconded by Committee Member Arnold Martens to approve the 2016 Annual Audit Plan. Rolfing called for a voice vote and all members voted yes. Motion Passed. C. Review 2015 Internal Audit Annual Report Oksol provided an update on the 2015 Internal Audit Annual Report. Discussion followed. A motion was made by Council Member Dean Karsky and seconded by Committee Member Seth Peterson to approve the 2015 Internal Audit Annual Report. Rolfing called for a voice vote and all members voted yes. Motion Passed. D. Update on Rich Oksol’s trip to Mid-America Intergovernmental Audit Forum Oksol presented a report on this forum. Discussion followed. 5. Travel Requests A. Kim Schroeder, Ashley Stroschein, ALGA 2016 Annual Conference in Austin, Texas on May 22-25, 2016 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 Committee Member Jason Forbes to approve this travel request. Rolfing called for a voice vote and all members voted yes. Motion Passed. 6. Open Discussion There was none. 7. Adjournment Committee Chair Rex Rolfing adjourned the meeting at 4:57 p.m. Lorie Hogstad City Clerk