City Audit 4467 260804

The Knoxville Community Media audit committee meeting on August 4, 2026, focused primarily on updates related to the city's external audit process and associated costs. Key procurement-related discussions included the engagement letter from the external audit firm, highlighting additional hourly charges for correspondence with the state comptroller's office and consultation services provided to council members, with rates noted between $150 and $250 per hour. The committee discussed budget implications, noting an overspend of $2,155 in the internal audit budget due to these additional charges and the need for potential budget amendments if costs exceed council allocations. There was also dialogue about managing audit-related expenses, including possibly capping council members' consultation hours to control costs. The committee reviewed and approved the internal audit work plan and deliberated on scheduling future meetings to align with audit timelines and council availability, aiming for six meetings per year with flexibility around holidays and council days. No new complaints of waste, fraud, or abuse were reported. The meeting concluded with plans to formalize the meeting schedule policy at a future session.