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Home My WebLink AboutMINUTES - 02152005 - C65 , Q .i •• Contra. 1 0 a---ft. OW% TO: BOARD OF SUPERVISORS •'• FROM: INTERNAL OPERATIONS COMMITTEE Costa - t • DATE: FEBRUARY 7, 2005 C__-w sr,�••-----.fit County SUBJECT: 2005 FINANCIAL AUDIT PLAN 5 SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION RECOMMENDATIONS: 1. ACCEPT report from the Auditor-Controller on the financial audit activities in 2004 and the proposed schedule of financial audits for 2005. 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. ACKNOWLEDGE that while the County budget has grown over the years, the number of full time professional audit staff in the Auditor-Controller's Office has diminished. 4. COMMEND the Auditor-Controller's Office - Internal Audit Division on its success in maintaining a regular audit cycle, providing a greater level of confidence in the County's internal financial transactions and reporting procedures and systems. CONTINUED ON ATTACHMENT: YES SIGNATUR . RECOMMENDATION OF COUNTY ADMINISTRATOR L---RECOMME D ION OF BOARD COMMITTEE DROVE OTHER 14t& SIGNATURE( A" 4 GAYLE B. uiLKEMA, CHAIR MARK DeSALTLNIER ACTION OF BOARD ON APPROVE AS RECOMMENDED OTHER VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT COPY OF AN ACTION TAKEN y -UNANIMOUS(ABSENT4 ) AND ENTERED ON THE MINUTES OF THE BOARD OF SUPERVISORS ON THE DATE AYES: NOES: SHOWN. ABSENT: ABSTAIN: ATTESTED: FEBRUARY 15,2005 CONTACT: JULIE ENEA(925)335-1077 JOHN SWEETEN,CLERK OF THE BOARD OF SUPERVISORS AND COUNTY ADMINISTRATOR CC: INTERNAL OPERATIONS COMMITTEE STAFF AUDITOR-CONTROLLER BY , TY 2005 Financial Audit Schedule February 7, 2005 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 2005 audit program on January 18, 2005, upon the recommendation of the IOC. Attached is the 2005 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 2005 plan. In addition to the Auditor-Controller's audit program, Caporicci and Larson, L.L.P., will continue to conduct the annual external and single audits. Office of COUNTY AUDITOR-CONTROLLER Contra Costa County .Martinez,California December 175 2004 TO: Internal Operations Committee FROM: Stephen J. Ybarra,Auditor-Controller By: Jack B. Cooper Jr., Chief Auditor SUBJECT: Annual Report on the Financial Audits Program The Board of Supervisor's directive of June 27,2000, directed the Auditor-Controller to report to the Internal Operations Committee each December on the proposed schedule of financial audits for the following year. The attached Schedule of Recurring Audits provides the audit schedule for 2005,and summarizes the status of the audit projects that were scheduled for completion in 2004. In 2004,the Internal Audit division again met its goal of maintaining our preferred audit cycle for recurring audit projects. All audits scheduled for 2004 either were completed or are in progress. The Division also completed two additional financial reviews that previously were not scheduled for completion in 2004. In preparing the audit schedule for 2005,we took into account the loss of two staff members. The Information Systems Auditor assumed a position outside of the County and it is unknown when or if this position will be filled;therefore,no information system audits are scheduled in 2005. The Internal Audit Division also lost an Accounting Technician position because it was reassigned to another division within the Office. In addition to performing financial audits,the Internal Audit Division also is responsible for preparing the County's Comprehensive Annual Financial Report and providing assistance to other County departments and the County's external auditors. The attached schedule for 2005 and the Division's success in meeting it are dependent on maintaining the present staffing level. In addition to the internal audits our Office performs,the County's financial operations are subject to audit by a firm of independent external auditors, Caporicci&Larson. They are responsible for performing 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. Caporicci&Larson also perform an annual"Single Audit"of the County's federal financial-assistance programs. Other independent auditors perform annual audits of the Contra.Costa County Employees' Retirement Association,the County Housing Authority, state grant programs, and the FIRST 5 Contra Costa Children and Families' Commission. 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