Audit Committee Meeting

Audit Committee Meeting Recap: October 7, 2025

The County’s Audit Committee convened on October 7, 2025, with all members present. The meeting focused primarily on evaluating current audit practices and planning for future improvements to ensure responsible management of taxpayer dollars. The committee approved the minutes from their previous meeting on September 18th, setting the stage for discussions regarding several key areas of County operations.

A significant portion of the meeting centered on a proposal to restructure the County’s internal audit function. Facing challenges in hiring and retaining qualified staff, the committee considered a recommendation from County Staff to transition towards an outsourced model. Following a thorough discussion weighing the benefits of specialized expertise and continuity against concerns about training opportunities, the committee voted to move forward with a Request for Proposal (RFP) to identify an external auditing firm. This model is similar to that successfully implemented by the City of Ashford, which utilizes Platte Moran for their external audit needs. This change aims to ensure consistent and effective oversight of County finances, even amidst staffing fluctuations.

Beyond the restructuring discussion, the committee received updates on ongoing audits and policy initiatives. The financial audit is nearing completion (approximately 95%), with a required restatement of beginning balances related to solar panel projects on school property. While this will impact the County’s reported net position, it does not affect the fund balance. Updates were also provided on the PCard (Procurement Card) audit, highlighting implemented recommendations and ongoing efforts to streamline sampling processes. The committee also reviewed updates on the Cash and Payments Handling Policy, which was formally adopted, and continued discussions regarding a new Risk Management Policy. A point of concern raised during the meeting involved the current management structure of the County’s hotline, which currently falls under the legal director. The committee agreed to revisit this structure to ensure anonymity and proper handling of reports, emphasizing the importance of a secure and confidential reporting process for County employees.

Looking ahead, several key action items were identified. Mason will lead the effort to initiate the RFP process for outsourcing the internal audit function, requiring careful consideration of budget implications and potentially necessitating dedicated staff or contractor support. The committee will also investigate the current hotline management structure, identify a replacement for outgoing Committee Member Patrick (whose term ends later this year), and continue reviewing existing policies, including the Risk Management Policy. Finally, discussions will continue regarding the transition from COSO to the Green Book framework for internal controls, a move designed to strengthen County oversight and accountability.

This meeting demonstrated the Audit Committee’s commitment to ensuring transparency, efficiency, and responsible financial management within County government. The decisions made regarding the internal audit function and hotline structure represent important steps towards strengthening oversight mechanisms and protecting taxpayer resources. Residents can expect further updates on these initiatives as they progress, with the goal of enhancing accountability and building public trust.