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Finance Committee

Meeting Date:	10/09/2018
FROM:	Bill Gallardo

Subject:

Meeting with Vavrinek, Tryne, Day & Co, LLP Pursuant to Statement on Auditing Standards (SAS) No. 114 Regarding the Fiscal Year 2017/18 Annual Audit

RECOMMENDATION

Receive and File.

BACKGROUND/DISCUSSION

Pursuant to Resolution 2016-044, the two City Council members assigned to the Brea Finance Committee shall perform certain Audit Committee duties. These duties include a meeting with the City's independent auditor before the City's annual audit begins in accordance with the Statement on Auditing Standards (SAS) No. 114 to discuss the level and focus of the City's annual audit.

Brea's independent auditor firm, Vavrinek, Tryne, Day & Co., LLP, has provided the attached letter to the City Council regarding the City's annual audit. Jessica Andersen, CPA, the partner in charge of the annual audit and other audit staff, will be present at the meeting to discuss the City's upcoming annual audit with the two City Council members assigned to the Finance Committee. It is noted that the interim audit work for the City was in July 2018, however, final audit work will begin October 22, 2018.

SUMMARY/FISCAL IMPACT

There is no fiscal impact related to this annual meeting.

RESPECTFULLY SUBMITTED

William Gallardo, City Manager
Prepared by: Cindy Russell, Administrative Services Director

Attachments
2018 City of Brea SAS 114 - Planning Letter