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File #: 2021-0256    Version: 1 Name:
Type: Action Item Status: Passed
File created: 6/21/2021 In control: Board of Port Commissioners
On agenda: 10/12/2021 Final action: 10/12/2021
Title: RESOLUTION AMENDING A) BOARD OF PORT COMMISSIONERS POLICY NO. 035 - POWERS AND FUNCTIONS OF THE PORT AUDITOR AMENDED TO ESTABLISH REQUEST FOR PROPOSAL REQUIREMENTS. B) BOARD OF PORT COMMISSIONERS POLICY NO. 630 - FRAUD PREVENTION POLICY AMENDED TO UPDATE THE LANGUAGE TO BE IN-LINE WITH THE CURRENT ORGANIZATIONAL STRUCTURE AND REPORTING AVENUES. C) BOARD OF PORT COMMISSIONERS POLICY NO. 776 - PORT AUDIT OVERSIGHT COMMITTEE POLICY AMENDED TO ESTABLISH TERM LIMITS FOR THE THREE PUBLIC MEMBERS AND RESIDENCY REQUIREMENT.
Attachments: 1. 6. 2021-0256 Attachment A, 2. 6. 2021-0256 Attachment B, 3. 6. 2021-0256 Attachment C, 4. 6. 2021-0256 Attachment D, 5. 6. 2021-0256 Attachment E, 6. 6. 2021-0256 Attachment F, 7. 6. 2021-0256A Draft Resolution, 8. 6. 2021-0256B Draft Resolution, 9. 6. 2021-0256C Draft Resolution
DATE: October 12, 2021

SUBJECT:

Title
RESOLUTION AMENDING
A) BOARD OF PORT COMMISSIONERS POLICY NO. 035 - POWERS AND FUNCTIONS OF THE PORT AUDITOR AMENDED TO ESTABLISH REQUEST FOR PROPOSAL REQUIREMENTS.
B) BOARD OF PORT COMMISSIONERS POLICY NO. 630 - FRAUD PREVENTION POLICY AMENDED TO UPDATE THE LANGUAGE TO BE IN-LINE WITH THE CURRENT ORGANIZATIONAL STRUCTURE AND REPORTING AVENUES.
C) BOARD OF PORT COMMISSIONERS POLICY NO. 776 - PORT AUDIT OVERSIGHT COMMITTEE POLICY AMENDED TO ESTABLISH TERM LIMITS FOR THE THREE PUBLIC MEMBERS AND RESIDENCY REQUIREMENT.
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EXECUTIVE SUMMARY:

The Audit Oversight Committee's work plan for the current year included a review of Board of Port Commissioners (BPC) Policy No. 035, Powers and Functions of the Port Auditor. The policy defines the purpose, authority, and responsibility of the District's Port Auditor function. The policy was approved by the Board in December 2013 and last amended in January 2020. During the June 2021 AOC, the Port Auditor presented best practices related to the external audit organizations and the Request for Proposal (RFP) process. The current policy with suggested revisions has been reviewed by the Audit Oversight Committee (AOC) and is now ready for Board review and approval.

Additionally, per the AOC's charter, the Committee is required to establish procedures for the receipt, retention, and treatment of complaints received by the District regarding accounting, internal controls, or auditing matters, and for the confidential! anonymous submission by District employees of concerns regarding questionable accounting or auditing matters. Currently, BPC Policy No. 630 Fraud Prevention Policy (Policy) provides reporting channels to those who have knowledge of suspected fraudulent and unethical activities at the Port.

In a general review of BPC Policy's managed by the Office of the Port Auditor (OPA), it was found that BPC Policy No. 630 had not been updated since July 2010, which was prior to the...

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