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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.  Ordinance 6196 passed on July 2, 2019 amending the ordinance to expand opportunities for Fayetteville Residents to serve on city board, commissions and committees.

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 residents of Fayetteville

Members

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

33.331 - Attendance Requirements

(A) Any citizen volunteer member of any city board, commission or committee who fails to attend at least 70% of all meetings of that committee within a twelve (12) month period of service shall be deemed to have resigned from the board, commission or committee and that person’s position shall be deemed vacant.

(B) Such citizen may petition the City Council for reinstatement by filing a letter with the City Clerk within twenty (20) days after notification that the citizen’s position has been declared vacant and explaining why extenuating circumstances justify reinstating the applicant to his or her former position.

(Ord. No. 5446, 10-4-11)