FROM: Amy McInerny, Chief Financial Officer
SUBJECT: Approve updates to Actuary and Audit Policy No. 005 (Internal Audit Charter)
RECOMMENDATION:
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Approve and adopt updates to Actuary and Audit Policy No. 005 (Internal Audit Charter).
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BACKGROUND:
Actuary and Audit Policy No. 005 formally defines SBCERA’s internal audit unit’s mission, independence, authority, and responsibility.
Actuary and Audit Policy No. 005 (Internal Audit Charter) was last reviewed in 2022.
Pursuant to General Policy No. 005, staff has conducted a review of Actuary and Audit Policy No. 005 and recommends renewal of Actuary and Audit Policy No. 005 without substantive change.
COMMITTEE REVIEW:
This item was reviewed by the Audit Committee at its March 20, 2025 meeting, and recommends Board approval with a 3-0 vote.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Prudent Fiscal Management
STAFF CONTACT:
Amy McInerny
ATTACHMENTS:
Exhibit A: Actuary and Audit Policy No. 005 (Internal Audit Charter) - Redline