Title
COMMISSION AUDITOR ITEM 1: COMMISSION AUDITOR PRESENTATION
- RISK ASSESSMENT AND AUDIT PLAN FOR FISCAL YEAR 2025
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. On December 18, 2024, the Commission Auditor presented the initial draft of the Fiscal Year 2025 Risk Assessment and Audit Plan. The Commission voted to defer the item and offered further guidance to the Commission Auditor regarding additional content for the Audit Plan.
2. The revised Audit Plan for fiscal year 2025 will be presented at the April 16th Commission Meeting.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: Potentially $387,700
b) Amount budgeted for this item in Account No: $255,000 in 001-511-0100-534990-0000-000-0000 - Contractual Services
c) Source of funding for difference, if not fully budgeted: If approved as presented, the following budget adjustment will be processed:
From:
$132,700 - 001-519-0800-530010-0000-000-0000 - Contingency
To:
$132,700 - 001-511-0100-534990-0000-000-0000 - Contractual Services
d) 5 year projection of the operational cost of the project: Not Applicable
e) Detail of additional staff requirements: Not Applicable
FEASIBILITY REVIEW:
A feasibility review is required for the award, renewal and/or expiration of all function sourcing contracts. This analysis is to determine the financial effectiveness of function sourcing services.
a) Was a Feasibility Review/Cost Analysis of Out-Sourcing vs. In-House Labor Conducted for this service? Not Applicable
b) If Yes, what is the total cost or total savings of utilizing Out-Sourcing vs. In-House Labor for this service? Not Applicable