2008-008A Resolutioni
RESOLUTION NO. 08-008A OFFICIAL RECORD
A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS, RENAMING
THE AUDIT COMMITTEE TO AUDIT AND FINANCE COMMITEE, 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 and Finance 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 and/or Audit
and Finance Committee
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SOUTHLAKE, TEXAS THAT:
Section 1. An Audit and Finance Committee is hereby established.
Section 2. Appointments shall be made annually as a part of the regular appointment
process of the City's boards and commissions.
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 15" DAY OF DECEMBER 2009.
AP ROVED:
T. H'.,•,,
P,
John Terrell, Mayor
ATT
Lori A. Payn4)City Secretary'-.,:,
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