Agenda

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11.

Finance Committee

Meeting Date:	08/13/2019
FROM:	Bill Gallardo

Subject:

Meeting with Eide Bailly LLP, (formerly Vavrinek, Trine, Day & Co., LLP) Pursuant to Statement on Auditing Standards (SAS) No. 114 Regarding the Fiscal Year 2018/19 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 of Auditing Standards (SAS) No. 114 to discuss the level and focus of the City's annual audit.

Brea's independent auditor firm, Eide Bailly LLP, (formerly Vavrinek, Trine, Day & Company, LLP), has provided the attached letter to the City Council regarding the City's annual audit. Roger Alfaro, 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 conducted from July 29 - August 8, 2019. Final audit work will begin November 4, 2019.

SUMMARY/FISCAL IMPACT

There is no fiscal impact related to this annual meeting.

RESPECTFULLY SUBMITTED

William Gallardo, City Manager
Prepared by: Lee Squire, Financial Services Manager
Concurrence: Cindy Russell, Administrative Services Director

Attachments
Brea 2019 Planning Letter