The general purpose of the Audit Committee is to assist City Council in carrying out City Council’s oversight responsibilities as they relate to the City’s independent financial audit process and to contribute to the independence of the internal audit function.
Quarterly meetings and by special request.
3:00 p.m. on First Monday of August, November, February, and May.
Oscar M. Corbin, Jr. City Hall
2200 Second St.
Fort Myers, FL 33901
Agendas & Minutes
Agendas and minutes are available online in the City Board Center.
The Audit Committee shall consist of five (5) regular members:
Three (3) members of the City Council appointed by the Council by majority vote.
Two (2) community members who have expertise in relevant fields related to the functions of the audit committee. The community members shall be nominated by a majority of the members of City Council. City Council shall make such appointments to the committee as it deems appropriate.
Whenever a vacancy shall occur, a successor shall be appointed in like manner to serve for the remainder of the term.
- Each Committee member will be independent of City management and any external audit firm currently employed by the City or subcontracted by any auditor employed by the City.
- Community members shall be residents of the city. City Council may waive the residency requirement by majority vote if there are an insufficient number of applicants who reside in the city.
- Non-City Council members of the Audit Committee shall have accounting, auditing, or related financial management expertise that is specifically relevant to the government sector and includes:
- A license as a Certified Public Accountant or an Institute of Internal Auditors’ certification as a Certified Internal Auditor;
- An understanding of generally accepted accounting principles and financial statements;
- Experience in preparing or auditing financial statements of comparable entities;
- Experience in applying such principles in connection with the accounting for estimates, accruals, and reserves;
- Experience with internal accounting controls; and
- An understanding of audit committee functions.
The members of the board shall be sworn by the city clerk to perform the duties of the office. The duties of the board members are as follows:
- Assist the City Council in selecting and evaluating a certified public accounting firm to conduct the City’s annual financial audit required by F.S. §218.39 in accordance with the provisions of F.S. §218.391
- Monitor the progress of the annual financial audit and any potential problems identified.
- Review the annual comprehensive financial report.
- Provide general oversight and direction to the internal audit function.
- Consider, review, and, where appropriate, make recommendations to the City Council concerning the annual internal audit plan, internal audit reports and audit issue follow-up, Internal Audit Manager communications on the internal audit activity’s performance, and internal audit consulting engagements.