Good morning, everyone, and welcome to this meeting of our audit committee. Today the audit committee has one item on our agenda. It's a review of the results of the FY24 external audit and review of the SMB company's contract renewal. And so I'm going to turn it over to Mr. Depazio to walk us through the packet today. Thank you. Okay, good morning. So actually I'm just going to turn it over to SB and company because they are going to present on the FY24 auto results. So I'm going to let them take it away and then we'll discuss the amendment after. Thank you, Blaze. Good morning, my name is Bill Seymour. I'm the engagement partner with SB and Company. I have with me, Toby Hollander, who is the audit partner over the engagement in Renata Reese, who is the audit manager on the engagement. This represents our required communications under GenLay accepted auditing standards as well as firm standards at the conclusion of the audit. I'm going to walk through the presentation. Feel free to stop me in the team with any questions that you may have. The first slide would talk to scope of services. We were engaged to perform and dip form an audit of the June 30, 2024 financial statements, performance of the uniform guidance single audit. That is a federally required audit for organizations that receive an excess of $750,000 of federal grant funds. Audit of the 9-1-1 system, various agreed upon procedures for landfill, as well as the national transit database. The audit of the employee's retirement system, retirement savings plan, deferred compensation plan, and the consolidated retiree health benefits trust. We also reviewed the uniform financial report. That is a document that takes the county's financial statements and puts them in a fit and form for the state. And then as well as prepared the data collection form, which takes the single audit and puts it in a fit and format for the federal government. As well as working with management on a year round basis. Results, we've issued an unmodified opinion on the financial statements. That is the best opinion that we are allowed to issue under generally accepted auditing standards. It effectively says that the financial statements is presented by management, are reasonably free of material misstatement. We did not discover any instances of fraud. I would caution our audit is not a fraud audit, that would be different in scope. However, professional standards as well as our firm standards require that we maintain a healthy skepticism for fraud, to look for fraud, ask questions about fraud, and through those limited procedures we noted no instances of fraud. We discovered no material weaknesses in internal controls. Effectively, what that says is that if you were to remove the external audit component from the financial reporting process, we believe that the processes and controls in place as put forth by management would allow management to produce an accurate set of financial statements. We received the full cooperation of management and then we we have separately communicated the results of the employee's retirement system and the consolidated retiree health benefit trust of those audits. We had issued unmodified opinions and had no material weaknesses there. And lastly, we noted no audit journal entries. Toby? So on the following slide, we highlight our SPC audit approach. This is what we call the 4K audit approach, which is focus on risk controls and account misstatement. And you can see the shape of it. You've seen this before is shaped in a funnel. The areas at the top is where we spend the majority of the time to make sure that we have an audit that's efficient and that we really identify and assess and test those risks. So the first area on the top is that planning and understanding the organization. So we understand the county, we understand the industry, and the changes that occurred during the year to make sure that we address those risks. And then moving into the assessing and attesting design and operation of controls, which will talk through in more detail in the following slides, which processes that we look at in more detail. And then we move into the financial clothes and reporting and the statement analysis. We look at the closed process that management does. We do an analysis on the year and balances to make sure they meet our expectations. And then we move into the substantive testing. This is our year end balances making sure that those met our expectations, that we can test substantively as well, as well as the gas compliance and reporting, wrapping up the financial statement reporting, reporting any results that we had in communications with governance as we identify things. On the next slide here, this highlights our assessment of the control environment. We do an assessment of five point framework of the control environment, which includes the control environment itself, the tone at the top, the oversight for management to make sure that there's a standard of policies of integrity as well as a risk assessment that management performs to make sure that they're looking and assessing any risk that could occur and identifying them. The control activities themselves, these are the controls that management designs and making sure that these are operating as well. And the information and communication, how information is shared within the organization and making sure the IT environment is effective as well. As well as the monitoring process. This is the overall monitoring performed by management to identify any issues if they were to occur and to remediate those deficiencies. And you can see on the bottom here that we did deem those to be effective for all five areas. On the next few slides here, we'll show our evaluation of the key processes. These are the control activities that we looked at through our testing. We perform walkthroughs as well as making selections and testing samples as necessary for these processes. Starting with the treasury process, this includes the management process of cash investments, the investment accounting, et cetera, and the next area is the estimation for different allowances. For example, the allowance of doubtful accounts. The next area is the financial reporting. This is the closed processes by management, the reporting of the statements itself, and then the revenue process, billing revenue all the way through the cutoff and the recording of revenue. And for all four of these, we did dean those to be effective. On the next slide here, we highlight some more key processes including the expenditure processes all the way from the purchasing through the disbursement of expenditures, the human resources and payroll, the hiring and termination process on the HR side as well as the recording processing of payroll on the payroll side. The fixed asset including physical custody, the recording of the fixed assets and appreciation and then the grant compliance. Like Phil had mentioned we do this single audit but we're looking at overall grant compliance to make sure that these are being properly monitored and accounted for. And then the information technology, the IT environment, looking at general controls there. And you can see we deemed all of these to be effective as well. On this slide here, we hide the single audit. This is still in process that's due at the end of the month, but the areas that we did look at for this year, we had seven major programs as listed below, including the SNAP cluster, the ERAP and the ARPA, the COVID related federal funded grants, the TANF or temporary assistance for needy families, social services block grant, SSBG, the block grants for community mental health services, and the National Urban Search and Rescue Response Read readiness. The total federal awards this year were about 265 million. We tested 21% or about 55 million of those federal grants. The testing is in progress, but we don't have any material weaknesses identified to report to you and as we wrap that up if you know there were any control deficients that would be reported we report that in the statements, but I'm none to identify at this point. And we are planning to issue an unmodified opinion on compliance, and that will be the best opinion that we could offer. And I will turn it to Renata to walk through the next slide. Okay, so the next couple of slides, we have our required communication. So we did perform an audit in accordance with generally accepted auditing standards. The financial statements are the responsibilities of management. So we just wanted to put that out there. We review, we audit them, but they are still responsibility of management. As far as accounting policies are used by management, they are described in the financial statements. And we have reviewed those adopted by the county and determined that those policies are acceptable and they are in accordance with GAP. And then as far as audit adjustments, as Bill had mentioned in the first slide, we did not have any audit adjustments. We have also not, we're not made aware of any fraud or illegal acts. If we were to be made aware of any of those, or if we had audit adjustments, this is where we would be required to communicate to governance. And same on this next slide, material weaknesses and internal controls or any of this agreements with management and any major issues. If we had any of those, we would be required to communicate to governance. We did not have any issues that would be required to communicate with this presentation. Management, the sign written representations at the end of the audit and we are independent. So this is where we can state that to you that we're independent from the county and we did not perform any non audit services And then on this last slide is just our responsibility in terms of fraud again as Bill mentioned It's not a fraud audit, but we do perform certain procedures as far as audit and we maintain a healthy skepticism throughout our audit That concludes our presentation. We want to first thank Karen, Yann, Michael, and everybody who has assisted us getting us information through the audit. You know, an audit is a very intrusive process. And it's not first on the kind of list of job duties. They're normal items, but we were able to get the information. Questions answered timely. One of the items that we don't put into writing, but from an audit perspective, your skepticism goes up when you ask a question. And management takes weeks to get you an answer. We didn't have that. It was we would ask a question and most times it was the same day or at worst the following day that we were able to get the information. Additionally, through the course of how management has set up the systems, actually gives us read only access into the systems that we're able to actually go in and test items without kind of asking you know it used to be a long time ago you would give a listing and the management would give you everything that you're you asked for and then in the back of your head you're going is this the only ones that they had but of course you know we don't have that issue because we're able to actually go into system and see the information. So all in all kind of a positive report card from an audit perspective and nothing really negative to disclose and we'll take any questions that the committee may have. Great, well thank you. A short audit committee meeting is always a good one. I do think I just had one question. I know Council Vice President Jawondo has one as well. In your course of looking at and doing the audit, were there any recommendations on how things could be improved or anything that came up that may not be material to your ultimate conclusion but did you come across anything that was discussed? Nothing that we were considering would be required to be brought to kind of a management letter level of communication through our conversations with management you know we'll have certain of what we would term housekeeping items that we brought up looking at how as we wrap up the single audit, because the single audit is not only just a financial audit, but it's also there's a performance based portion of it to say, did you accomplish the items that were set forth in the individual grants? And there will be minor items that we would talk through but nothing that would be you know effectively if management was to say we think we're good we would say that's fine. Thank you very much council vice president for Juwanda. Thank you very much. Good to be at my first audit committee meeting so thanks for having having me. Overall, great news. And only in the audit world would an unmodified opinion be like the highest standard. Just two quick questions. On the control, with the assessments of the processes and the control environments, effective I'm assuming is the highest rating. Yes. Okay. And so if we were to, we can't, as auditors, we can't give positive language. Right. So we use a term effective, have we had issues there? We would use terms like needs improvements, deficiency, significant deficiency, or what we would term a material weakness. And what a material weakness is basically a breakdown in a control or combination of controls that are in place. That's not working that would potentially allow a material error to show up in the financial statements. Appreciate that, thank you. And then just my other question was, you've mentioned the, you're not fully complete, but you will be complete. What's the timeline? Yeah. So we're probably with like 95, 98% complete with the single audit. There's a couple of tests that we're just finalizing. There's a deadline of March 31st and we don't anticipate any issue of making that date. And through testing we don't have any significant areas of concern or problems that would otherwise cause us to have a material weakness and compliance, which would be different from a financial statement material weakness or some form of a modification to the opinion to be there. If you look at, if you ever get bored, you need to need something to cure insomnia. If you can look up anybody's single audit, it's on the fact.gov is a website that you can pull and you can see other governments that are not as put together as the county is. Appreciate that. Thank you so much. Thank you. I'm not seeing any other comments or questions. Appreciate that. And I think we can move on to the contract. Okay. The second item is on the bottom of page four. So this is the extension of the external audit contract. So this is so the SB, SB and company can conduct the FY25 audits. This is the first renewal. They're four remaining as part of the five year contract with SB. The cost are in the same as the prior year as part of the contract. Staff recommends approval of the contract amendment. Any questions or comments? So we have a motion and a second, and all those in favor. That is unanimous from the committee. Awesome. We're done. All right. Thank you all for making the trip and being here in person. It is good to see you in person to do this even if it's quick. So we appreciate all the work and all the work of our county staff as well. Thank you very much. Thank you to everyone. Thank you. Thank you. Thank you. Thank you. You're welcome.