1.01 Meeting Information

Transcription

1 Page 1 of 12 Wednesday, July 3, 2013 Audit Committee Date and Time: July 3, 2013 at 9:00 a.m. Location: Yuba College-District Board Room (located at 2088 North Beale Road, Marysville, CA 95901) Members of the Audit Committee: Trustees Michael K. Pasquale (Chair), James Kennedy, Xavier Tafoya; Douglas B. Houston, Chancellor; Kuldeep Kaur, Chief Business Officer Agenda available at: Persons wishing to address an item on the agenda should complete a gold request card and submit it to the Board Assistant at the beginning of the meeting. 1. Information 1.01 Information Jul 3, Audit Committee Procedural Persons wishing to address an item on the agenda should complete a gold request card and submit it to the Board Secretary at the beginning of the meeting.

2 Page 2 of Call To Order 2.01 Call to Order Jul 3, Audit Committee Procedural The Committee Chair will call the meeting to order.

3 Page 3 of Approval of Agenda Recommended Action 3.01 Approval of Agenda Jul 3, Audit Committee Action It is recommended that the Committee approve the July 3, 2013 Audit Committee meeting agenda as presented. Motion & Voting It is recommended that the Committee approve the July 3, 2013 Audit Committee meeting agenda as presented. Motion by James Kennedy, second by Xavier Tafoya. Final Resolution: Motion Carries Aye: James Kennedy, Michael K Pasquale, Xavier Tafoya

4 Page 4 of Approval of Minutes 4.01 Approval of Minutes Jul 3, Audit Committee Action Recommended Action It is recommended that the Committee approve the minutes of the April 8, 2013 Audit Committee meeting. Approve minutes of the April 8, 2013 Audit Committee meeting. File Attachments DRAFT April Audit Minutes.pdf (79 KB) Motion & Voting It is recommended that the Committee approve the minutes of the April 8, 2013 Audit Committee meeting. Motion by Xavier Tafoya, second by James Kennedy. Final Resolution: Motion Carries Aye: James Kennedy, Michael K Pasquale, Xavier Tafoya

5 Page 5 of Student Success 5.01 Student Success Jul 3, Audit Committee Discussion This standing item is placed on the agenda as a reminder of the important role the Board's Audit Committee has in student success.

6 Page 6 of Comment 6.01 Comment on Agenda Items Jul 3, Audit Committee Procedural The Committee Chair will call for public comment on agenda items at this time.

7 Page 7 of Discussion / Action Agenda 7.01 Audit Response Plan Jul 3, Audit Committee Information Chief Business Officer, Ms. Kuldeep Kaur, will provide an update on the Audit Response Plan. File Attachments Audit Response Plan pdf (164 KB)

8 Page 8 of Discussion / Action Agenda 7.02 FY Audit Plan Jul 3, Audit Committee Information Chief Business Officer, Ms. Kuldeep Kaur, will review the Audit Plan. File Attachments FY Audit Plan.xlsx (14 KB)

9 Page 9 of Other 8.01 Other Jul 3, Audit Committee Discussion Other discussion items.

10 Page 10 of Other 8.02 Next : July 31, 9:00 a.m. Jul 3, Audit Committee Information Next Audit Committee meeting: July 31, 2013 at 9:00 a.m.

11 Page 11 of Adjournment 9.01 Adjournment Jul 3, Audit Committee Procedural The Committee Chair will adjourn the meeting.

12 Page 12 of 12

13 Yuba Community College District Minutes of the April 8, 2013 Audit Committee The Yuba Community College District Board Audit Committee met on Monday, April 8, 2013 at 9:00 a.m. in the District Board Room located at Yuba College, 2088 North Beale Road, Marysville, CA Members present: Trustees Michael K. Pasquale (Chair), Jim Kennedy, Xavier Tafoya; Douglas Houston, Chancellor Members absent: Kuldeep Kaur, CBO 1. Information 2. Call to Order Committee Chair Michael Pasquale called the meeting to order at 9:03 a.m. 3. Approval of Agenda It is recommended that the Committee approve the April 8, 2013 Audit Committee meeting agenda as presented. Motion by James Kennedy, second by Xavier Tafoya. Final Resolution: Motion Carries Aye: James Kennedy, Michael K Pasquale, Xavier Tafoya 4. Approval of Minutes It is recommended that the Committee approve the minutes of the February 1, 2013 Audit Committee meeting. Motion by James Kennedy, second by Xavier Tafoya. Final Resolution: Motion Carries Aye: James Kennedy, Michael K Pasquale, Xavier Tafoya 5. Comment None. 6. Discussion Agenda 6.01 Audit Response Plan Chancellor Houston presented the Audit Response Plan for committee review. Finding 12-1 Physical Inventory In progress. Assets purchased with federal funds are nearly tagged for prior years and will be all tagged by the end of April. Fixed assets over $5,000 value will be tagged on or before May Finding 12-2 Return to Title IV This finding has been addressed. The Business Office / Financial Aid are maintaining a calendar ot be in compliance. Finding 12-3 Advisory Committees This finding has been addressed. The EOPS and CARE Programs held two Advisory Committee meetings as required. In addition, an Advisory Sub-Committee was formed. Finding 12-4 To Be Arranged Hours In progress. Chancellor Houston stated he is confident that all of the findings will be addressed by June 30, Other There were no other items of discussion. Trustee Kennedy stated that this audit is much better than in previous years. Information: 7.02 Next - May Adjournment The meeting adjourned at 9:18 a.m.

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15 2012 Audit Finding Response Plan July 11, 2013 Finding Responsible Party Task Due Date Status 12-1 Physical Inventory of Capitalized Assets Internal Control Kaur 12-2 Student Financial Aid Return to Title IV/Notification of post-withdrawal disbursement to student 12-3 EOPS and CARE Lack of Advisory Committee s during academic year. Smart/Arce Arce Tag all assets purchased with federal funds as well as take physical inventory of all assets. Include funding source of equipment including award number, location, and condition of equipment, or disposition data for the federal capital assets. Return to Title IV: Financial Aid Offices will notify Business Services Office within 30 days of the determination of student drop date. Business Services Office to process Title IV reimbursements to the Department of Education within the specified 45 day period. Notification of post-withdrawal disbursements to students: Financial Aid Offices will manually calculate all students that drop after the 60% mark until correction to Ellucian is made. This manual calculation will become part of their record and this process is currently in effect for the Fall 2012 Semester. The EOPS and CARE programs held their advisory committee meetings concurrently since all CARE students are EOPS students as well. The first advisory committee meeting for both programs was held on December 12, The second committee meeting was held on March20, During its Fall Advisory Committee meeting, EOPS formed a sub-committee which includes high school counselors and EOPS staff. The subcommittee met on February 20, Complete Assets purchased with federal funds, fixed assets (over $5,000 value), and depreciated assets have been tagged. This process is now embedded in the monthly rhythm. Complete Business Office/Financial Aid are maintaining a calendar to be in compliance Complete Financial Aid offices are manually calculating postwithdrawal disbursements These processes are now embedded in the regular rhythm. Complete EOPS-CARE Programs held two Advisory Committee meetings as required. In addition, an Advisory Sub- Committee was formed. 1

16 2012 Audit Finding Response Plan July 11, and provided an update at the March 20, 2013 Advisory meeting. The purpose of this subcommittee is to form a link between the EOPS/CARE programs and local high schools in order to (1) promote student access and enrollment and (2) increase student retention and success To Be Arranged Hours (TBA) Horn/ Carabajal During the academic year, the District will complete a detailed review of the format and content of the college catalogs and schedule of classes to ensure that they contain all required details, including the required number of TBA hours associated with Weekly Census and Daily Census classes. Once completed in June 2013, the process will be embedded in the annual rhythm of catalog and schedule production. June 30, 2013 Complete the detailed review of the format and content of the college catalogs and schedule of classes was completed. This process is now embedded in the annual rhythm of catalog and schedule production. Whenever TBA hours are associated with Weekly Census and Daily Census classes in the future, specific instructions will be given to each instructor to ensure that the syllabus includes precise TBA hours attendance requirements and that accurate records of student attendance are maintained. Complete - Training for the faculty occurred in department meeting and included the distribution of specific instructions. 2

17 Yuba Community College District Fiscal Year Audit Plan Audit Timeline Responsible Party Due Date Comments Prepare engagement letter and planning letter to the board of trustees Matson and Isom April 1, 2013 YCCD sign engagement letter YCCD April 15, 2013 Prepared by YCCD List to be sent by Matson and Isom Matson and Isom April 30, 2013 Note: May require revisions pending OMB A-133 compliance supplement and CDAM YCCD sends items marked "ASAP" to Matson and Isom to prepare sample selections YCCD May 13, 2013 Matson and Isom provides samples to YCCD to pull sample items Matson and Isom May 15, 2013 Interim Audit Fieldwork Matson and Isom/YCCD May 21-24, 2013 YCCD prepares audit confirmations (cash, insurance, attorney, etc.) YCCD July 2, 2013 Mailing of confirmations Matson and Isom July 9, 2013 Final Audit Fieldwork Matson and Isom/YCCD September 16-27, 2013 First draft of basic financial statements to YCCD for MD&A preparation purposes Matson and Isom October 7, 2013 Audit Findings to YCCD Matson and Isom October 14, 2013 Responses to the Audit Findings YCCD October 22, 2013 Review & Discussion of Responses CHEX October 22, 2013 Responses due to Chief Business Officer CHEX October 25, 2013 District to provide MD&A to Matson and Isom YCCD October 21, 2013 Responses due to Matson and Isom YCCD October 31, 2013 Draft Audit Report due to District Matson and Isom November 1, 2013 Draft Audit Report Review District Audit Committee November 5-6, 2013 Revisions to Audit due to Matson and Isom YCCD November 8, 2013 Final Audit Report due to District Matson and Isom November 15, 2013 Audit Report due for Board YCCD November 20, 2013 Audit Report presentation to Audit Committee Matson and Isom/YCCD December 4, 2013 Audit Report presentation to Board Matson and Isom/YCCD December 12, 2013 Audit Reports mailed to various agencies Matson and Isom December 31, 2013