Citizen Finance Audit Committee

The purpose of the Committee is to assist the City Council in fulfilling its oversight responsibilities for the annual audit process, the development of financial policies and procedures, Investment transactions and reports, and the system of internal controls. 

Number of Members:

 6 members including the City Manager, the Director of Finance and Administrative Services, two members of the City Council, and two representatives from the community. 

Term of Office:  

2 years, the committee members from the community may serve no more than two (2) successive terms. The Chairman and Vice-Chairman shall be elected by the committee and shall serve one-year terms. 


Established: 

Ordinance No. 15-04-16-11

Appointed By: 

Mayor and City Council

Meetings: 

3rd Wednesday following the end of each quarter (additional meetings scheduled as needed)

Time:

 2:00 PM

Location:

 City Manager's Conference Room, City Hall, 3300 Corinth Parkway
 
Duties / Responsibilities
  • Advise the City Council and management on the selection of the independent auditor.
  • Serve as an independent and objective party to monitor the City’s financial and compliance reporting process and internal control system.
  • Review and appraise the audit efforts of the City’s independent auditor
  • Provide an avenue of communication among the independent auditor, financial and senior management, and the City Council.
  • Review and provide recommendations on the City’s financial, investment, and budgetary reports, policies and procedures.
  • Determine general investment strategies and monitor results.  
  • Review investment economic outlook, portfolio diversification, maturity structure, potential risk to the City’s funds, authorized brokers and dealers, and the target rate of return on the investment portfolio.
  • Adopt the list of authorized brokers and dealers of government securities.
Qualifications 
  • The Representatives from the community must be qualified voters of the City and shall remain eligible to vote during their tenure on the Committee and to the extent possible, shall be a finance professional such as an accountant, Certified Public Accountant, auditor or shall have equivalent experience.

City Staff Contact:    

Caryn Riggs
940-498-3229
Caryn.Riggs@cityofcorinth.com



Agendas & Minutes


Agendas are available prior to the meetings
    Most Recent Agenda View All Agendas
Place
Board Position
Board Member
Term Expiration
1
Council Representative Joe Harrison Sept 30, 2017
2 Council Representative, Chair Lowell Johnson Sept 30, 2018
3 Citizen Mike Taylor Sept 30, 2018
4 Citizen Dick Baker Sept 30, 2017
5 Director of Finance and Administrative Services Lee Ann Bunselmeyer Permanent
6 City Manager Vacant Permanent