RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION ESTABLISHING AN AUDIT COMMITTEE FOR THE COUNTY OF SAN MATEO

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, the County of San Mateo has a tradition of excellence in leadership and in the implementation of policies that uphold the best practices of public service; and

WHEREAS, the Controller, in keeping with the Government Finance Officers Association (GFOA) Recommended Practices for Public Agencies, recommends the formation of an Audit Committee for the County of San Mateo; and

WHEREAS, an Audit Committee's primary purpose shall be to independently oversee the audit of the Government Code-required County financial statements; and

WHEREAS, an Audit Committee shall serve in an advisory capacity to the Board of Supervisors, recommending selection of the County's independent auditor and reporting annually to this body regarding resolution of audit findings; and

WHEREAS, the composition of the membership of an Audit Committee shall include members who collectively possess the expertise and experience in accounting, auditing, financial reporting and finance and these members shall be able to understand and resolve issues raised by the independent audit of financial statements; and

WHEREAS, consistent with the GFOA guidelines, the Audit Committee's membership shall be comprised of two members of the Board of Supervisors, or their designees, and the County Manager, or his/her designee.

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED

That this San Mateo County Board of Supervisors does hereby establish an Audit Committee to conform with best practices in government finance, provide an additional measure of independence to the existing process and serve in an advisory role to this body.

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