Loading...
HomeMy WebLinkAbout1984-14 Create Audit Committee RESOLUTION NO. 84- /~ A RESOLUTION FORMALIZING THE ESTABLISHMENT, OBJECTIVE AND RESPONSIBILITIES OF THE MUNI- CIPAL AUDIT CO~4ITTEE. WHEREAS, an Ad Hoc Municipal Audit Committee has been established by the Mayor; and WHEREAS, it is the desire of the Council to formalize the organiza- tion, objectives and responsibilities of the Municipal Audit Committee. NOW THEREFORE, BE IT RESOLVED by the Mayor and City Council of the City of Ashland, as follows: SECTION 1. Municipal Audit Committee -- Established. There is hereby established a Municipal Audit Committee which shall consist of five (5) voting members, and certain non-voting ex-officio members including the Mayor, City Recorder, Director of Finance, City Admin- istrator, Hospital Administrator, and Director of Parks & Recreation. SECTION 2. Term -- Vacancies. The voting members shall be appointed by'the Mayor with confirmation by the City Council for three (3) year terms, with not more than two terms expiring each year. The voting members shall include one member of the City Council, one member of the Parks & Recreation Commission, one member of the Hos- pital Board, and two members at large. SECTION 3. Quorum -- Rules and regulations. Three (3) voting members of the Committee shall constitute a quorum. At its first meeting each calendar year, the Committee shall elect a chairman, vice chairman, and secretary, who shall hold office at the pleasure of the Committee. The Committee may establish rules for its meetings, and shall meet at least once each quarter on call of the Chairman. SECTION 4. Objectives and Responsibilities -- Generally. The objectives and responsibilities of the committee are to establish and maintain continuing communications with the independent auditors, Finance Department and elected officials, with respect to: 1. Annual and interim financial statements. 2. Scope and results of the annual audit and related fees. 3. The City's accounting and financial reporting practices. 4. Adequacy and effectiveness of the system of internal account- ing controls. 5. Scope of other services performed by the independent auditors. 6. Any other matters relative to the audit of the government's accounts and its financial affairs that the committee, at its own discretion, deems necessary. 7. Evaluate the services provided by the independent auditors and recommend their retention or, when necessary, their termination and replacement. -1- SECTION 5. Reports. The Committee shall submit copies of its minutes to the City Council, and shall prepare and submit such reports as may be requested of them by the Mayor or City Council. The reports and reco~m~endations of the Committee shall be considered advisory in nature and shall not be bind- ing on the Mayor or City Council. SECTION 6. Compensation. The voting members of the Committee shall receive no compensation for services rendered. The foregoing Resolution was READ and DULY ADOPTED at a regular meeting of the City Council of the City of Ashland on the day of ~'~zz~/~, 1984. ! Nan E. Franklin City Recorder SIGNED and APPROVED this ~-~( day of ~t~z~ , 1984. ~ ' ~t "7~c L. Gordon Mayor -2- D~i~ en~orsemen~ modifie~ such in~urcmce os is o~.orcled b~' hhe pro~ions o~ ~h~ policy relcm N,M. fED INSUREDS IT IS AGREED ,\NO UNDERSTOOD the Named Insured includes the fo [lowing: CiTY OF ASitLAND, AND ITS ~ ' '' ~A~O~. WHILE ACTING WITHIN THE SCOPE OF ITS DUTIES OF SUCH, TO: ~. any member off the City Council; 2. Any unpaid volunteer; 3. Any elected or appointed official; ~ . Any employee (The informatton below is required to be completed only when this endorsement is issued $uhsequent to the policy -effective date.) Effective duly 15,1983 , this endorsement /orm~ a part of Policy No. 3'3' 867 8700 603 m,,,d to CITY OF ASHLA~ Industrial Underwriters Insurance Company ,,.