COMMITTEE AGENDA MEMORANDUM
Board Audit Committee
SUBJECT:
title
Receive an Update on the Status of the Grant Management Ad-hoc Desk Review. (Continued from February 19, 2020).
End
RECOMMENDATION:
Recommendation
Discuss the Board Independent Auditor’s Recommendation Regarding the Grant Management Ad-hoc Desk Review.
Body
SUMMARY:
On January 14, 2020, the full Board approved, as recommended by the Board Audit Committee, TAP International’s updated FY 2018-2019 to FY 2020-2021 Annual Audit Work Plan. As part of the FY 2020-2021 Ad-hoc Board Audits included in the FY 2018-2019 to FY 2020-2021 Annual Audit Work Plan, the Board Audit Committee also identified three desk reviews to be performed by TAP International including: key controls and financial management regarding the extension of grants; risk management review of Valley Water hiring practices; and review of the Board Agenda preparation process.
These desk reviews are not full and formal audits, and they are designed to quickly identify the need, or lack of need, for a formal audit. To the extent formal audits are recommended as a result of the desk reviews, approval will be sought from the full Board before their initiation.
On February 19, 2020, the BAC discussed the status of the Grant Management ad-hoc desk review. The Board’s Independent Auditor, TAP International, recommends that a subject matter expert auditor on the topic of grant management, conduct a formal audit. The purpose of this item is to facilitate BAC discussion on TAP’s recommendation regarding the Grant Management ad-hoc desk review.
ATTACHMENTS:
*Handout 4.1-A, Trish Mulvey Comment
UNCLASSIFIED MANAGER:
Manager
Darin Taylor, 408-630-3068