Austin Audit Review: Rates, Energy Efficiency
- The Audit and Finance Committee reviewed the external auditor's management letter, which assesses the city's accounting and management practices.
- Discussions included how electric rates are set by the City Council and plans for energy improvements in city facilities.
- Committee members voiced concern that the audit letter delved into policy matters, and requested shorter, more focused agendas in the future on fundamental financial principles.
Full Transcript
POUNDED 1920 Austin City Council MINUTES For SPECIAL CALLED MEETING - May 11, 1988 - 4:00 Ρ.Μ. AUDIT AND FINANCE COMMITTEE Council Chambers, 307 West Second Street, Austin, Texas Memorandum To: : Mayor Cooksey called to order the meeting of the Audit and Finance Committee, noting the presence of Councilmember Carl-Mitchell, Councilmember Shipman and Councilmember Urdy. Councilmember Shipman, as chair of the Committee, told the members they would review the External Auditor's Management Letter. Coopers & Lybrand are the external auditors. Discussion was held concerning electric rate charges and how the City Council sets the rates. Councilmember Shipman asked for a discussion of energy improvements of City facilities. Council expressed concern because policies were included in the audit letter. Councilmember Carl-Mitchell said a management letter is to make sure the City is using good accounting and management principles to manage the finances of the City. Councilmember Shipman said their agenda for this meeting was too long, and asked for shorter agendas in the future because she needs fundamentals of accounting. Councilmember Urdy agreed. The meeting was adjourned at 6:10 p.m. : -