FY26 Audit Committee Organizational Meeting, May 19, 2026

The Albemarle County Audit Committee convened on May 19, 2026, for their FY26 organizational meeting. The committee re-elected the CFO as chairperson and received an update from auditors Brown Edwards and Company regarding the upcoming audit schedule and planning communication letter. Key audit risks discussed included management override of controls and capital asset reporting complexities. The auditors outlined the timeline for preliminary work starting mid-June, on-site fieldwork in late September and October, and report preparation for the fall audit committee meeting. Additionally, the committee reviewed updates on the fraud, waste, and abuse hotline, noting two anonymous reports and four attempted check fraud cases totaling approximately $1,000. Efforts to reduce check fraud by increasing vendor enrollment in electronic payment systems were highlighted, with about 130 vendors currently signed up. The committee emphasized ongoing outreach to encourage more vendors to adopt electronic payments to minimize physical check risks. The next audit committee meeting is planned for late November or early December to review audited financial results.