HomeMy WebLinkAboutMINUTES Audit Committee 2023-08-28RECORD OF PROCEEDINGS
Town of Estes Park, Larimer County, Colorado, August 28, 2023
Minutes of a Regular meeting of the AUDIT COMMITTEE of the Town of
Estes Park, Larimer County, Colorado. Meeting held in the Municipal
Building in said Town of Estes Park on the 28th day of August, 2023.
Committee:
Attending:
Mayor Koenig, Mayor Pro Tem Cenac, Trustee Hazelton,
Town Administrator Machalek, Finance Director Hudson,
and Accounting Manager Garcia
Mayor Koenig, Mayor Pro Tem Cenac, Trustee Hazelton,
Town Administrator Machalek. Deputy Town Administrator
Damweber, Finance Director Hudson, Accounting Manager
Garcia, Deputy Town Clerk Beers, and Auditors Abbie Irvine,
Ty Holman
Absent: None
Mayor Koenig called the meeting to order at 2:30 p.m.
2022 ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) AND AUDIT
REVIEW. Abbie Irvine and Ty Holman, Haynie & Company, reviewed the engagement
team, audit scope, procedures, financial highlights, required communications in
accordance with audit standards, and audit adjustments. Haynie & Company issued an
unmodified opinion or "clean" opinion on the 2022 ACFR on June 28, 2023. Holman
commented there were no significant changes to requirements. There were no
disagreements with management about matters individually or in the aggregate.
Standard audit adjustments were provided for pension and other post -employment
benefit (OPEB) amounts on the financial statements and a $64,000 adjustment was
made to Power & Communication capital assets which were not considered material or
a control deficiency.
The Committee discussed leases and impacts of the Governmental Accounting
Standards Board (GASB) 87, Statement No. 94, 96, 100, and 101 and the net position.
Director Hudson stated Statement No. 96 related to subscription -based information
technology arrangements would impact the Town. The Town anticipates the
implementation of a new web based Enterprise Resource Planning Accounting System
in the next two -years. He stated the audit would be presented to the Town Board on
September 12, 2023 as an action item.
CONSIDER APPOINTMENT OF HAYNIE & COMPANY TO PERFORM THE 2023
AUDIT. Director Hudson recommended the appointment of Haynie & Company to
perform the 2023 audit of which the committee was in agreement and would be
presented to the Town Board on September 12, 2023 as an action item.
There being no further business, Mayor Koenig adjourned the meeting at 3:15 p.m.
Bunn,' toria Beers, Deputy Town Clerk Beers