Financial Oversight and Audit Committee Guidelines

The Financial Oversight and Audit Committee was created for:

The purpose of proving legislative oversight of the function of the Internal Auditor;
To review the financial policies of the City; and,
To formulate recommendations for the City Council regarding City finances and other matters referred by the City Council or City Manager.

The FOAC shall be comprised of four members of the City Council, the Chief Internal Auditor, and the City Manager or designee, and shall meet when needed, at least quarterly. Please refer to City Charter Section 3.6B for additional information.
City Charter Section 3.6 B

Duties of the Committee

(per 12-1019-035/127616_3/Reso)

In addition to reviewing and making recommendations to the entire City Council regarding the financial affairs and policies of the City as either referred by the City Council or requested by the City Manager, the FOAC shall:

Annually review the Internal Audit Charter of the City and recommend re-adoption or modification to the City Council, as may be necessary.
Review the Annual Audit Plan recommended by the Internal Auditor and present it to City Council for review and approval.
Meet quarterly to receive the Internal Auditor’s Quarterly report.
Convene meetings as required by the Internal Auditor to address issues that might arise between quarterly meetings.
Keep the City Council apprised of internal audit findings.
Review the results of the Quality Assurance and Improvement “Peer Review” presented to City Council on an annual basis and make recommendations regarding same.
Review City of El Paso’s financial policies and procedures as requested by the City Manager or Chief Financial Officer.
Review and make a recommendation, on an annual basis, on the compensation and benefits package for the City Manager and the City Attorney
(per 18-1056-082/PL#806388).

Additional Information & Resources

The Financial Oversight and Audit Committee Board Details & Member Roster

Working Deadlines for FOAC Agendas
(NOTE: Accessible only to city staff and city representatives)