2008-008RESOLUTION NO. 08-008 OFFICIAL RECORD
A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS, ESTABLISHING AN
AUDIT COMMITTEE AND APPOINTING MEMBERS TO THE COMMITTEE,
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Southlake, Texas (the "City") is ultimately
responsible for the stewardship of the City's funds; and
WHEREAS, an annual audit is required by the City Charter; and
WHEREAS, it would be an enhancement to the City's financial management to establish
an Audit Committee; and
WHEREAS, the Government Finance Officers Association has made the establishment
of an audit committee a recommended best practice as a means of providing independent
review and oversight of a government's financial reporting processes, internal controls and
independent auditors; and
WHEREAS, this committee would be composed of three council members and their
responsibilities would include:
a. Meeting with the external auditor prior to audit to discuss scope and issues;
b. A review of the preliminary audit before the audit is presented to the City Council;
and
C. Any other matters as may be determined by the City Council
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SOUTHLAKE, TEXAS THAT:
Section I. An Audit Committee is hereby established.
Section 2. The City Council hereby appoints the following council members to serve as
members of the Audit Committee. Appointments shall be made annually as a part of the regular
appointment process of the City's boards and commissions.
1. Mayor Andy Wambsganss
2. Virginia Muzyka
3. John Terrell
Section 3. The City Council authorizes and directs that this action be made part of the City's
permanent records.
Section 4. This resolution shall become effective from and after the date of its passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS
ON THIS THE 5t" DAY OF FEBRUARY 2008.
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ATTEST: c •; . <6,
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Lori A. Payne, Cit0Secretary•,.
APPROVT —
Andy Wambsganss, Mayor