The audit selection process was a central topic, with the commission reiterating the importance of selecting a qualified and independent auditor. The process will be guided by a resolution passed in 2014, which outlines the roles and responsibilities of the audit selection committee, including establishing evaluation criteria, publicly announcing the request for proposals, and ranking the proposals based on predefined factors.

The proposed timeline for the audit selection includes releasing the request for proposals on February 27th, followed by a period for firms to submit questions and proposals. The commission plans to evaluate the proposals and possibly conduct interviews with the firms. The current auditor, HCT, was mentioned, and there was a discussion about the effectiveness of past audits. A previous audit finding from 2022 had been addressed, leading to cleaner audits in subsequent years.

Commissioners also discussed the importance of risk assessment in identifying major areas that require attention during audits. They emphasized that certain weaknesses need to be addressed, though recent audits have been relatively clean. The commission plans to focus on areas that may not have been reportable in the past but are still crucial for ongoing financial management.

Another point of discussion was the potential for conflicts of interest among those involved in the audit selection process. The commission stressed the need to avoid any financial or professional relationships that might compromise the integrity of the selection process. The importance of transparency and open communication among commissioners was underscored to ensure that the process remains impartial and fair.