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5 DATE: March 4, 2024
TO: Mayor and Members of the City Council
President and Members of the Estero Municipal Improvement District (EMID) Board of Directors
VIA: Stefan Chatwin, City/District Manager
FROM: Edmund Suen, Finance Director
Waqas Hassan, Assistant Finance Director
DEPARTMENT: Finance
SUBJECT: AUDIT COMMITTEE'S 2023 YEAR END REPORT, REVIEW OF MISSION STATEMENT, AND GOALS FOR 2024
RECOMMENDATION
It is recommended that the City Council/EMID Board of Directors, by Minute Order, accept the Audit Committee’s 2023 Year End Report, Mission Statement, and Goals for 2024.
EXECUTIVE SUMMARY
It is recommended that the City Council/EMID Board of Directors, by Minute Order, accept the Audit Committee’s 2023 Year End Report, Mission Statement, and Goals for 2024.
BACKGROUND
The Audit Committee has prepared a written Year-End Report for 2023, as well as Goals for 2024 and reviewed its Mission Statement for the City Council/EMID Board’s review and acceptance.
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5 ANALYSIS
Pursuant to Minute Order No. 802, each citizen advisory committee shall prepare a written year-end report, review its mission statement, and prepare a written annual goals/work program for the upcoming year for presentation to the City Council at a City Council meeting in the first quarter of each calendar year.
The Audit Committee’s Mission Statement for 2024 is unchanged from 2023 and is as follows: To provide insights, advice and support into audit, governance, and other relevant fiscal matters appropriate to the oversight, operational and fiduciary responsibilities of the City Council and the Estero Municipal Improvement District Board of Directors.
The current members of the Audit Committee are in the second year of its 3-year term.
In Calendar Year 2024, the committee shall continue to seek input and requests for areas of interests to work on from the City Council. In calendar year 2024, the Committee shall review the year’s annual audit process and the City’s draft financial statements for fiscal year ending 2024, and recommend, if any, a directed study to be performed by the Independent Auditors ancillary to their audit.
It is recommended that the City Council/EMID Board, by Minute Order, accept the Audit Committee’s 2023 Year End Report, Mission Statement, and Goals for 2024.
California Environmental Quality Act
Not Applicable
FISCAL IMPACT
There is no fiscal impact for this item.
CITY COUNCIL VISION, MISSION, AND VALUE/PRIORITY AREA
City Council Operations and Improved Community Engagement
ATTACHMENTS
Attachment 1 - Audit Committee 2023 Year-End Report and Goals for 2024