Title
Review of CRA Capital Project Contracts (B)
Explanation
In accordance with our Annual Audit Plan, the City Auditor's Office has completed a Review of CRA Capital Project Contracts. The primary objective of our audit was to evaluate and provide reasonable assurance that capital project contracts for CRA are adequately monitored and complied with. During our review, we interviewed key personnel, analyzed financial information and evaluated management controls. Our procedures included reviewing controls over contract awards, monitoring activities and payment processing.
Based on the results of our review, we believe the CRA has strong management controls in place that provide reasonable assurance CRA capital projects are completed in compliance with contract terms. The attached report provides three recommendations related to improving payment processing, direct and indirect expense allocation and budgeting controls, which we believe will strengthen the overall process of monitoring CRA capital project contracts.
We request that the Committee recommend the City Commission accept our report and management's response. Also, in accordance with City Commission Resolution 970187, Section 10, Responsibilities for Follow-up on Audits, we request that the Committee recommend the City Commission instruct the City Auditor to conduct a follow-up review on recommendations made and report the results to the Audit, Finance and Legislative Committee.
Recommendation
The Audit, Finance and Legislative Committee recommends the City Commission:
1) Accept the City Auditor's report and the response from the CRA Executive Director; and
2) Instruct the City Auditor to conduct a follow-up review on recommendations made and report the results to the Audit, Finance and Legislative Committee.