Audit Committee

Minutes

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Council Chambers - Hybrid
City of Kitchener
200 King Street W, Kitchener, ON N2G 4G7
Present:
  • Mayor B. Vrbanovic
  • Councillor S. Davey
  • Councillor D. Schnider
  • Councillor J. Deneault
  • Councillor C. Michaud
  • Councillor A. Owodunni
  • Councillor P. Singh
  • Councillor B. Ioannidis
  • Councillor M. Johnston
  • Councillor D. Chapman
  • Councillor A. Clancy
Staff:
  • M. May, General Manager, Community Services and Deputy Chief Administrator
  • J. Readman, General Manager, Development Services
  • J. Lautenbach, Chief Financial Officer, Financial Services
  • D. McGoldrick, General Manager, Infrastructure Services
  • D. Saunderson, Deputy Clerk
  • M. Blake, Committee Administrator

This meeting commenced at 6:03 p.m.

The Committee considered Financial Services report FIN-2023-259, dated June 20, 2023, to which the KPMG report entitled, "Audit Findings Report" was attached. M. Betik and C. Cheal, KPMG, the City's external Auditor, were in attendance to present the Audit Finding Report for the year ending December 31, 2022.

G. Demacio, Manager of Finance, Reporting and Analysis presented the 2022 financial highlights, key financial indicators, and the audit findings report prepared by KPMG. R. Hagey, Director, Financial Planning and J. Lautenbach, Chief Financial Officer, Financial Services were also in attendance to respond to questions from the Committee.

M. Betik and C. Cheal, KPMG, were in attendance to present their 2022 Audited Financial Statement. M. Betik presented the audit highlights and responded to questions from the Committee.

  • On motion byCouncillor C. Michaud

    "That the 2022 Audited Consolidated Financial Statements of the Corporation of the City of Kitchener be approved."

    Carried

The Committee considered Chief Administrative Office report CAO-2023-284, entitled "2nd Quarter 2022 Audit Status Report", dated June 15, 2023, providing a summary of the Internal Audit assurance and consulting services completed during the period of April to June 2023. C. Tasker, Internal Auditor, presented the report and responded to questions from the Committee.

C. Tasker presented the 2nd Quarter Audit Status Report, advising the Committee the completed audits performed include: the petty cash and floats controls audit and facility booking and risk assessment program review. C. Tasker noted the accounting controls audit and training documentation review remain in progress at this time.

C. Tasker presented the petty cash and floats audit, noting the inspection aimed to confirm petty cash and float balances and ensure the cash is adequately protected from theft in the applicable 29 City locations. C. Tasker stated the proposed recommendations resulting from the audit include: updating floats, ensuring unneeded floats are deposited, and securing and reconciling all floats.

C. Tasker then presented the facility booking and risk assessment program review. C. Tasker noted the review aims to assess the effectiveness and impact of the new facility booking and risk assessment process, to identify further areas for improvement. C. Tasker identified key recommendations arising from the Report, including: considering improvement suggestions for the webpage and form, reviewing risk assessment criteria, reviewing facility host concerns, exploring adding facility availability to the webpage and exploring alternative online software forms.

On motion, this meeting adjourned at 6:48 p.m.

Mariah Blake
Committee Administrator