2021-10-21 AUDIT COMMITTEE MINUTES
MINUTES OF A REGULAR MEETING OF THE AUDIT COMMITTEE OF PEARLAND, CITY OF
PEARLAND TEXAS, HELD VIA VIDEOCONFERENCE ON MONDAY, OCTOBER 21, 2021,
4:00 P.M.
The meeting began at 4:00 p.m.
PRESENT
Mayor Kevin Cole
Councilmember Tony Carbone
Chief Financial Officer Amy Johnson
Deputy City Manager Trent Epperson
Assistant City Manager Ron Fraser
Crystal Roan, City Secretary
Comptroller Karen Krenek
1. CORRECTIVE ACTION PLAN UPDATE
Comptroller Krenek gave an overview of the Corrective Action Plan Update. Chief
Financial Officer Johnson stated this is only a staff report and Legal has not reviewed it.
Ms. Johnson also stated the plan update will be included on the next Thursday packet.
2. FY21 AUDIT UPDATE AND PROPOSED TIMELINE
Ms. Johnson gave an overview of the FY21 Audit Update and the proposed timeline. The
auditors will share their interim findings with the Audit Committee at the end of January
2022 or early February 2022.
3. COMPREHENSIVE FINANCIAL MANAGEMENT POLICY – REQUESTED CHANGE
FOR REVIEW
Mayor Cole stated Councilmember Kamkar requested an addition to the City of
Pearland’s Comprehensive Financial Management Policy under Section 7, article C,
subsection 2 to state, “G. Debt issued as a Certificate of Obligation will have a maturity
that at least lasts the useful life of the asset being financed.”
Councilmember Carbone suggested amending the proposed language to state, “Debt
issued as a Certificate of Obligation will have a maturity that does not exceed the useful
life of the asset being financed.”
Ms. Johnson will discuss the proposed language with the auditors.
4. NEXT MEETING
The next meeting will be held in late January 2022 or early February 2022.
5. ADJOURNMENT
The meeting adjourned at 4:30 p.m.
Audit Committee Meeting – October 21, 2021
th
Minutes approved as submitted and/or corrected this 27 day of January, 2022.
J. Kevin Cole
Mayor
ATTEST:
Crystal Roan, TRMC, CMC
City Secretary
Audit Committee Meeting – October 21, 2021