HomeMy WebLinkAboutMINUTES - 01202004 - C44 TCa: v BOARD OF SUPERVISORS Contra
FROM: INTERNAL OPERATIONS COMMITTEE Cost''"
DATE: JANUARY 12, 2004 u n t
SUBJECT: 2004 FINANCIAL AUDIT PLAN
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS:
1. ACCEPT report from the Auditor-Controller on the financial audit activities in 2003 and `
the proposed schedule of financial audits for 2004.
2. ACKNOWLEDGE that in addition to an ambitious schedule of internal audits, the:internal
audit staff also spends approximately 25%of its time helping to prepare the County's
annual Comprehensive Financial Report (CAFR).
3. COMMEND the Auditor-Controller's Office - Internal Audit Division on its success in
returning to the preferred audit schedule, providing a greater level of confidence in the
County's internal financial transactions and reporting procedures and systems.
CONTINUED ON ATTACHMENT: YES SIGNATURE: T"
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMEND 10 OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S): "'""
OkY—L—E E,W , CHAIR FEDERAL D. GLOVER
ACTION OF BOARD ON Jaml9 Y 20, 200)4 APPROVE AS RECOM NDED R OTHER
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
X UNANIMOUS(ABSENT Nome ) AND ENTERED ON THE MINUTES OF THE
BOARD OF SUPERVISORS ON THE DATE
AYES: NOES: SHOWN.
ABSENT: ABSTAIN:
CONTACT: JULIE ENEA(925)335-1077 ATTESTED: JANUARY 202004
JOHN SWEETEN CLERK OF THE BOARD OF
CC: INTERNAL OPERATIONS COMMITTEE STAFF SUPERVISORS AND COUNTY ADMINISTRATOR
AUDITOR-CONTROLLER
7BYh4U �!&TY
2004 Financial Audit Schedule InternalOperations Committee
Internal Operations Committee page 2
BACKGROUND:
On June 27, 2000, the Board of Supervisors reviewed the County's audit program and directed
that each December, the County Administrator and Auditor-Controller report to the Internal
Operations Committee on the proposed schedule of internal financial and management audits
for the following year, including those studies requested by the Board of Supervisors.
The Board of Supervisors approved the County Administrator's 2004 audit program on January
13, 2004, upon the recommendation of the IOC.
Attached is the 2004 internal audit plan proposed by Auditor-Controller. Our Committee is very
pleased with the increased frequency and number of audits, and recommends approval of the
2004 plan. In addition to the Auditor-Controller's audit program, Caporicci and Larson, L.L.P.,
will conduct the annual external and single audits.
Office of
COUNTY AUDITOR-CONTROLLER
Contra Costa County
Martinez,California
December 19, 2003
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TO: Internal Operations Committee
FROM. Kenneth J. Corcoran,Auditor-Controller
OMM OF
By. Jack B. Cooper Jr., Chief Auditor COU i : t £ 3'; g;6 i ii A i0r-
SUBJECT: Annual Report on the Financial Audits Program
The Board of Supervisor's directive of June 27,2000 expressed the desirability of more frequent
departmental audits and directed the Auditor-Controller to report to the Internal Operations
Committee each December on the proposed schedule of financial audits for the following year. We
present this report to summarize the status of the projects we planned to perform in 2003,to indicate
what we are doing to meet the Board's goal, and to inform you of our schedule for 2004.
2003 was a challenging but productive year. Challenges associated with our first-year
implementation of GASB 34 for the 2002 Comprehensive Annual Financial Report(CAFR) delayed
the start of our audit program in the beginning of 2003. Nevertheless,we were able to meet our goal
of returning to our preferred audit cycle for our recurring audit projects. Except for the authorized
postponement of the audit of the Department of Child Support Services, all audits scheduled for 2003
were completed or are in-progress. As you have directed,we will complete that audit before the end
of May 2004. We also performed some additional reviews that were not previously scheduled for
completion in 2003. These consisted of three financial/control audits and four information systems
audits.
We have planned an ambitious audit schedule in 2004. This plan,and our success going forward are
dependent on our ability to retain current staff.
The attached Schedule of Recurring Audits indicates the status of our recurring audit projects,the
audits we completed in 2003 and the audits we plan to complete in 2004. .The Internal Audit Division
is also responsible for preparation of the County's Comprehensive Annual Financial Report and
providing assistance to the County's external auditors and other departments.
Internal Operations Committee December 19, 2003
Annual Report on the Financial Audits Program
In addition to the internal audits we perform,the County's financial operations are subject to audit by
independent external auditors. The County's external auditors perform an annual audit of the
County's general purpose financial statements,the County's Redevelopment Agency, the Public
Financing Authority and the Public Facilities Corporation. They also perform an annual"Single
Audit"of the County's federal financial assistance programs. Cather independent auditors perform
annual audits of the Contra Costa County Employees' Retirement Association,the Public Facilities
Corporation, the County's dousing Authority, state grant programs and the FIRST 5 Contra Costa
Children and Families Commission.
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