2014-07-14 Study Audit firms - Laserfiche WebLink

Home Browse Search

Mr. Williamson noted there would be constructive communication throughout the audit with City Council and management. They will meet with the Council at the beginning of the audit; contact information will be given for questions anytime during the audit and results will be presented to Council at the conclusion of the audit. There were no questions for RubinBrown. Mr. Walker introduced the third auditors, Schmersahl Treloar & Co for their presentation. Mr. James Schmersahl, Engagement Principal and Mr. Mark A Graves, Senior Audit Manager provided the presentation. Mr. Schmersahl stated that all three firms are fine firms but noted his firm could give University City a fresh look. He said they would overstaff the audit the first year to make sure the transition goes smoothly. It would also allow them to establish a good base to provide a service on an on-going basis. Mr. Schmersahl said they would spend time on testing the City’s controls, reviewing the City’s procedures and policies to make sure the appropriate controls are in place. Ms. Carr asked if a member of Council has a question to specifically look at something, how it would be handled. Mr. Schmersahl noted their engagement is with City which is represented by City Council. He stated if the City Council comes to them they will respond to the City Council. Mr. Schmersahl stated their obligation is ultimately to work with staff that Council selected but to report and provide service to Council. Mr. Glickert asked for an example of a creative solution in Schmersahl Treloar & Co. commitment, “To generate creative solutions” Mr. Schmersahl stated creative solutions need to be designed around the nature of the problem, nature of the resources available to meet the problem and time frame and magnitude of the dollar. Therefore each creative solution will be different. Mayor Welsch asked what time frame was needed for choosing an auditor. Ms. Charumilind said they would like to have auditors start in October; start on the report in November and provide the final report in December. Council decided to have a Closed Session before the August 11th, 2014 Council meeting, at 6:00 p.m. to decide on an audit firm. Mr. Walker suggested if Council has any additional question or information, they provide it to him before the meeting, so Council will be in position to make a decision at the August meeting. Council adjourned the Study session at 6:20 p.m. Respectfully submitted, Joyce Pumm City Clerk, MRCC/CMC 3