Minneapolis Audit Committee Agenda
December 17, 2012
9:00 a.m. - Room 317 City Hall
Note: All cellular telephones and electronic devices to be switched to a non-audible function during Council and Committee meetings.
Committee Members Present: Council Members Diane Hofstede (Chair), Barbara Johnson, Minneapolis Park & Recreation Board Representative Mark Oyaas; Citizen Member Stephanie Woodruff (quorum 4)
Committee Members Absent: Council Member Betsy Hodges; Citizen Member Darrell Ellsworth
Council Committee Coordinator: Peggy Menshek (612) 673-2287 [email protected]
1. Adopt Agenda.
Action Taken: Adopted.
2. Accept minutes of the regular meeting of November 14, 2012.
Staff Report: Audit Minutes of November 14, 2012
Action Taken: Accepted.
3. Risk Assessment & Two Year Internal Audit Plan:
Accept plan and order published.
Staff Report: Risk Assessment and Two Year Internal Audit Plan 2013-2014 (draft)
Risk Assessment and Two Year Internal Audit Plan 2013-2014 (as amended)
Action Taken: Approved and ordered published the Risk Assessment and Two Year Internal Audit Plan, with the following amendments to the 2013 Audit Plan:
a) Item 3, “Increase Awareness/Education on Internal Controls, Enterprise Risk Management, and Fraud Prevention” was moved to the “Discretionary Hours/Special Projects” section of the Plan; and
Audit Objective: Verify storm water charges are adequately captured to ensure timely and accurate billing to customers.
Scope: Revenue capturing system, accounts receivable, collection and monitoring process and general ledger in 2013.
4. Results/Next Steps of Audit Workgroup.
Staff Report: None.
Action Taken: Directed Internal Auditor to:
1) Complete the necessary steps to conduct a City Council study session no later than the end of February, 2013.
2) Work with the City Attorney and Council Member Hofstede to prepare audit ordinance changes to present to the Audit Committee for consideration and recommendation to the City Council.
3) Develop procedures to assure a quarterly report to the Audit Committee highlighting the progress of the audits and management responses and plans to be presented in the first quarter of 2013.
4) Work with the City Coordinator & Council Member Hofstede to integrate the Internal Audit function more effectively into the enterprise.
a. Develop a plan to build enterprise risk awareness and management training
b. Develop procedures to review the audit reports, prior to submission, to provide input to the internal audit related to findings and recommendations
c. Build internal awareness of the audit function and support among departments and management
d. Establish an internal escalation process whereby the City Coordinator arbitrates disputes between the Internal Auditor and management.
5. Preliminary Planning for 2014 Budget.
Staff Report: None.
Action Taken: Internal Auditor directed to submit and present the proposed Audit Plan for 2014 to the Audit Committee at the March, 2013 Audit Committee meeting for discussion.
Notice: A portion of this meeting may be closed to the public pursuant to Minnesota Statutes Section 13D.03 or 13D.05.
Next Regular Meeting: January 23, 2013
Website Address: www.minneapolismn.gov
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Last updated Dec 18, 2012