There is hereby created an Audit Committee which shall consist
of three members of the Kirkwood City Council, one of whom shall be
the Mayor and who shall serve as Chair of the Committee. The City
Council shall select from among its members two Council members to
serve for a two-year term or until the conclusion of their current
term, whichever comes first. The Committee may direct the Chief Administrative
Officer to appoint a member of staff to the Committee or the Committee
may appoint a qualified independent professional to serve as support
for the Committee.
The Audit Committee should meet as necessary, but no less than
twice a year unless the City Council directs the Committee to meet
more often. The Committee may conduct executive sessions with the
Chief Administrative Officer, Director of Finance, City Attorney and/or
anyone else as desired by the Committee.
While management is primarily responsible for financial reporting
(including the comprehensive framework of internal control used to
generate the financial statements), the governing body is responsible
for ensuring that management meets its responsibilities in regard
to internal controls and financial reporting and the Audit Committee
is to assist the governing body to meet its responsibility.
The Audit Committee shall report to the City Council no later
than October 31 of each fiscal year.
[Ord. No. 9783, § 1, 8-21-2008; Ord. No. 10089, § 1, 9-20-2012]