Financial Oversight and Audit Committee 9/10/2026

The City of El Paso's Financial Oversight and Audit Committee met on September 10, 2026, to discuss several key financial and procurement-related topics. The committee approved updates to the city's debt service and post-issuance compliance policies, including clarifications on municipal advisors and dissemination agents, ensuring adherence to IRS and SEC regulations for tax-exempt bonds. They reviewed the fiscal year 2026 audit plan progress, highlighting the implementation of a new audit software platform (Teammate) to improve efficiency and data analytics capabilities. The committee also received a report on hotel occupancy tax audits, noting identified tax deficiencies and the redetermination process that often reduces initial assessments. Additionally, updates were provided on capital improvement projects funded by certificates of obligation and general obligation bonds, including expenditures and project statuses for public safety, community progress, and quality of life initiatives. The committee approved motions related to these updates and emphasized transparency and compliance in financial management and procurement activities.