City of Denton February 10, 2021  Audit/Finance Committee Minutes  After determining that a quorum is present, the Audit/Finance Committee of the City ofl Denton, Texas, will convene in a Regular Meeting on Wednesday, February 10, 2021, at 3:07 p.m. in the Council Work Session Room at City Hall, 215 E. McKinney Street, Denton, Texas. PRESENT: Chair John Ryan, Council Member Armintor, Council Member Meltzer,  ABSENT: None  Also present were City Auditor Madison Rorschach, Assistant City Manager/Chiefl Financial Officer David Gaines, Director of! Finance Cassey Ogden, and First Assistant City Attorney Note: The Committee Members present participated in the Regular meeting via video/teleconference under provisions allowed by the Texas Government Code Section  Mack Reinwand.  551.127.  1. ITEMS FOR CONSIDERATION Committee of the City of] Denton.  A. AF21-006 Hold a discussion and appoint a Chair and Vice-Chair for the Audit/Finance Councilmember Meltzer nominated Councilmember Ryan Chair. Councilmember Armintor  nominated Councilmember Meltzer as Vice-Chair. Motion carried 2-1. AYES (2): Chair Ryan, and Councilmember Armintor  NAYS( (1): Councilmember Meltzer  B. AF21-001 Consider approval of the minutes for March 17,2020.  Vice Chair Meltzer motioned approval of the minutes as presented. Chair Ryan seconded the  motion. Motion carried 3-0. NAYS (0): None  AYES (3): Chair Ryan, Vice Chair Meltzer, and Councilmember Armintor  C. AF21-002 Management Report- - Annual Debt Report as of September 30, 2020. Cassey Ogden, Director of Finance, presented thei item and discussion followed. No action was  taken.    D. AF21-005 Receive a report, hold a discussion, and give staff direction regarding the Madison Rorschach, City Auditor, presented the item and discussion followed. A consensus of the Committee directed Internal Audit to proceed with the audit reporting process as recommended. Specifically, audit reports would be distributed to the Committee electronically before it was presented to the City Council. Any Committee member would then be able to independently request the report be presented to the Committee before going to Council. A consensus of the Committee (3-0) directed Internal Audit and Finance staff to work with Legal to develop a draft resolution or policy outlining the Committee's oversight duties. E. AF21-003 Receive a report, hold a discussion, and give staff direction regarding the Madison Rorschach, City Auditor, presented the item and discussion followed. A consensus oft the Committee (3-0) directed Internal Audit to add the item to a future agenda for a vote. F. AF21-004 Receive a report, hold a discussion, and give staff direction regarding the Internal Audit Department's Fiscal Year 2020-21 Quarter One Report. Madison Rorschach, City Auditor, presented the item and discussion followed. A consensus of the Committee (2-1) directed Internal Audit to replace the full Police Property Room Follow-Up Audit with a partial Police Property Room Audit focused on non-location- dependent process recommendations. This direction will be presented to the full Council as a  Audit/Finance Committee's internal audit oversight duties.  completion and closure ofaudit projects.  potential amendment to the FY20-21 Annual Audit Plan. With no further business meeting adjourned at 4:09 p.m.  JRa2 TAMMY PEAL RECORDING SECRETARY  AUDIT/FINANCE COMMITTEE  FRLL  CHAIR  Apoud Wadausy