Agenda

Back to Calendar Return

Work Session and Regular Meeting

Meeting Date:	04/10/2018
Department:	Finance
Pillars:	Gold Standard in Financial Health
Milestones:	Promote and protect the Addison Way

AGENDA CAPTION:

Present and Discuss an Update on the Internal Control Program for the Town of Addison.

BACKGROUND:

An effective internal control system is designed to provide reasonable assurance regarding the achievement of operational objectives (such as the effectiveness and efficiency of operations), accurate and reliable financial reports, and compliance with applicable laws and regulations.

At the November 14, 2017 Council meeting, staff introduced the Committee of Sponsoring Organizations of the Treadway Commission (COSO) as the framework for the Town's internal control program as outlined in "The Green Book" which adapts these principles for a government environment. As part of this presentation, staff told Council that the schedule for review of the Town's internal controls would be developed from January 2018 to March 2018 and that an update would be provided to the Council upon its completion.

This presentation will provide that update on how the Town of Addison will look at internal controls programmatically with a continued focus on improvement.

RECOMMENDATION:

Information only, no action required.

Attachments
Presentation - Internal Controls