HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 11/08/2012 40
KENT Public Facilities District
November 8, 2012
Board Members Present: Mike Miller, Lew Sellers, Randall Smith, Cass Prindle
Others Present: Auditors Jim Griggs, Michael Pursley, Allan Netherton; City staff
John Hodgson, Bob Nachlinger, Robert Goehring, Paula Barry, Jean Anderson,
Brenda Jacober; Steve Hunter of the Kent Reporter
The meeting began at 3:30 p.m. with introductions.
Griggs explained that this is the exit conference for the Public Facility District and
that both an accountability audit and financial statement audit have been done.
Netherton emphasized that the audit is not of the ShoWare Center but of the Public
Facilities District as the funding agent, He explained that the financial statement
audit is risk-based and that they looked at contracts and liabilities. He said for the
accountability audit, they looked at the entity as a whole and relied on the city's
accounting operations. He noted that a Financial Statement Report and an
Accountability Report will be produced within a month, and that they have no
findings to add to the reports, which results in a clean audit. He said their only
recommendation, which is not in the audit and is for management's consideration,
relates to how the financial information is presented.
Pursley then explained the Draft Financial Statements Audit Report, and said they
did not find any significant deficiencies or material weaknesses in internal control
over financial reporting, and that in their opinion there were no material mistakes
on the financial statements.
Pursley responded to Miller and communicated that in the future this audit should
be conducted in conjunction with the City's audit.
Netherton concluded and stated that a customer survey was sent out and the
results go to Jean.
Pursley stated that the auditor's office appreciates the feedback.
The meeting adjourned at 3:50 p.m.
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Ronald F. re, C
City Cler