02-05-2019 - AGENDA ITEM 16 REQUEST FROM MAYOR PRO TEM TONY WU REQUESTING THE CITY COUNCIL’S CONSIDERATION TO CHANGE THE FREQUENCY THAT THE CITY'S AUDIT COMMITTEE MEETS AND OTHERAGENDA ITEM NO. 16
AGENDA STAFF REPORT
City of West Covina I Office of the City Manager
DATE: February 5, 2019
TO: Mayor and City Council
FROM: Chris Freeland
City Manager
SUBJECT: REQUEST FROM MAYOR PRO TEM TONY WU REQUESTING THE CITY
COUNCI12S CONSIDERATION TO CHANGE THE FREQUENCY THAT THE CITY'S
AUDIT COMMITTEE MEETS AND OTHER FINANCIAL UPDATES
RECOMMENDATION:
It is recommended that the City Council provide staff direction.
DISCUSSION:
Per the City Council Standing Rules, Mayor Pro Tern Tony Wu is seeking the City Council's consideration to
change the frequency that the City's Audit Committee meets and other financial updates.
Specifically, Mayor Pro Tern is requesting the following:
1. Staff to provide the City Council, for public review, a monthly balance sheet (revenues and
expenditures), monthly overtime report, and monthly status of Department spending;
2. A quarterly financial report;
3. Ensure that the City's yearly audit is submitted to the City Council review by March 31 st; and
4. Establish quarterly meetings with the Audit Committee and schedule additional Audit Committee
meetings if a majority of the Committee membership wishes to meet.
Prepared by: Chris Freeland, City Manager