CITY OF BELMONT AUDIT COMMITTEE

WEDNESDAY, APRIL 4, 2007 1:00 P.M.

ROOM 360, CITY HALL

ONE TWIN PINES LANE, BELMONT

AGENDA

1.  Call to order.

2.  Oral communication/public comment.

This agenda category is limited to 15 minutes to be allocated as determined by the Audit Committee Chair. If you wish to address the Committee please submit your name and address and give it to the Secretary.  If your subject is not on the agenda, the Committee Chair will recognize you at this time.

3.  Agenda amendments (if any).

4.  Consent calendar.

Consent calendar items are considered to be routine and will be enacted by one motion.  There will be no separate discussion on these items unless members of the Committee, staff or public request specific items to be removed for separate action.

     a.  Approval of _________ minutes.

          Recommended action:  Adopt motion approving minutes.

5.  Review and discussion of Audit Committee role and responsibilities

     a.  Enabling resolution - Audit Committee Financial Policy

     b.  Structure

     c.  Processes

     d.  Membership Requirements

             a.  Committee members

             b.  Financial Expert

             c.  Staff

6.  Audit status

     a.  FY 2007 audit engagement

     b.  FY 2008 auditor selection and rotation

7.  Future agenda topics

     a.  Operational audits

     b.  Education

     c.  Financial expert recruitment and selection

8.  Reports from Chair & Committee

     a.  Selection of Chairperson

     b.  Meeting calendar

     c.  Other

9.  Adjournment.

     Recommended Action:  Adopt motion adjourning meeting.

In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the City Clerk at (650) 595-7413.  The speech and hearing-impaired may call 650/637-2999 for TDD services.  Notification in advance of the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting. 4/5ths majority is required to vote upon an urgency measure.

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