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Description

The Audit Committee was created on October 3, 2000 by Resolution 134-00. Ordinance 5522 was passed on September 4, 2012 to enact Article XXIV Audit Committee and Internal Auditor into Chapter 33 Departments, Boards, Commissions and Authorities of the Code of Fayetteville.

The Audit Committee serves in an advisory capacity between the City Council, the independent auditor, the City Internal Auditor, and City Administration concerning financial accounting and reporting, audit functions, internal controls, and compliance with governmental regulations.

The Audit Committee shall ensure the independence of the independent auditor; the ability and responsibility of the Internal Auditor to report any concerns about finances or accounting to the Audit Committee, Administration and City Council; the integrity of the Administration; and the adequacy of public disclosures. The Audit Committee shall, in conjunction with the external auditors, review the City’s financial reports and information, the City’s system of internal financial and accounting controls, and the City’s compliance with governmental laws and regulations regarding financial matters.

Terms
Three year terms for the citizens of Fayetteville

Members

The Committee shall include one City Council member appointed by the Mayor and three citizens of Fayetteville, at least one of which must be a Certified Public Accountant (CPA). The three citizens shall serve three year terms of office.

Appointment

The Mayor appoints a City Council member. All other vacancies on the board are filled by appointed by the governing body of the City.

Public Notifications

A weekly meetings list is prepared by the Office of the City Clerk Treasurer that is distributed to the press and posted on the home page.

Meeting Times

The Committee shall meet at least three times annually, one of which must be with the independent auditor, Internal Auditor, and Administration to discuss the independent auditor's report and findings following its audit of the City.

Members