Title
Subject: Second reading and enactment of an ordinance amending Municipal Code Chapter 2.88 Audit Committee Duties, Powers, and Responsibilities and Related Municipal Code Updates
Recommended Action
Conduct the second reading and enact Ordinance No. 26-2285: "AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CUPERTINO AMENDING MUNICIPAL CODE CHAPTER 2.88 TO RENAME THE AUDIT COMMITTEE AS THE AUDIT AND FINANCE COMMITTEE, UPDATE ITS DUTIES, POWERS, AND RESPONSIBILITIES, AND UPDATE THE DIRECTOR OF FINANCE TITLE" to:
1. Rename the Audit Committee as the "Audit and Finance Committee";
2. Modify Section 2.88.100(g) to read: “To review the City’s internal controls and internal audit reports.”
3. Add Section 2.88.100(i): “To review the use of emerging technologies such as artificial intelligence in the City’s financial reporting, internal controls over financial reporting, risk management, and compliance.”
4. Update Section 2.88.110 referencing Director of Administrative Services to Director of Finance