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LTC 296-2017 Audit CommitteeMIAMI BEACH OFFICE OF THE CITY MANAGER LTC# 296-2017 LETTER TO COMMISSION TO: Mayor Philip Levine and Members f the City Cmission FROM: Jimmy L. Morales, City Manager DATE: June 5, 2017 SUBJECT: Audit Committee The Audit Committee would like you to be aware of the following three motions that were approved at their May 22, 2017 meeting: Motion 1: The Audit Committee requests the City implement BDO's recommendations and establish an internal audit plan to confirm that they are implemented. Motion Passage: Votes 6-0 Motion made by Arthur Unger Motion seconded by Bryan Rosenfeld Motion 2: The Audit Committee requests the City seek an external auditor (consultant) to perform a citywide risk assessment and have the Audit Committee assist with the scope and selection similar to the process used to hire the External Auditor. Motion Passage: Votes 6-0 Motion made by Arthur Unger Motion seconded by Marc Gidney Motion 3: The Audit Committee requests the City engage BDO to perform a follow-up audit in six months to re- test controls over Treasury and cash management and to have the Audit Committee assist in developing the scope. Motion Passage: Votes 6-0 Motion made by Michael Weil Motion seconded by Ron Starkman Members Present: Marc Gidney, Bryan Rosenfeld, Ronald Starkman, Arthur Unger, Patricia Valderrama, and Michael Weil Members Absent: Sandy Horwitz C: James J. Sutter, Internal Auditor John Woodruff, Finance Director JJS