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Centennial City, Colorado <br />Population is 110,000 City Budget is $86 million City Manager has executive authority <br />Contracted performance auditor works within a $296,000 budget <br />Centennial City, Colorado does not have any employees assigned to performance auditing. <br />Uniquely, it conducts all performance audits by contract as directed by an eight -member Audit <br />Committee. <br />DUTIES OF AUDITOR The duties are determined in each contract for an audit. <br />INDEPENDENCE An Audit Committee approves audit topics and directs the contracted <br />performance auditing process for Centennial City. The Audit Committee oversees the annual <br />financial audit required by City Charter in addition to other audit(s) that the City Council may <br />request pursuant to the authority in the Charter. <br />ACCESS TO INFORMATION Access is established in the contract for the audit. <br />ACCOUNTABILITY Performance standards are set in each contract. The Audit Committee <br />provides oversight and reviews audit findings prior to presenting them to the City Council. The <br />Audit Committee us comprised of the Mayor, one council member appointed by the City Council, <br />the City Manager, Finance Director, a staff member appointed by the Finance Director, the City <br />Attorney, and two city residents with relevant business experience appointed by the City Council. <br />FUNDING The City Council approves the audit budget. <br />OTHER UNIQUE PROVISIONS The usefulness of this model is limited, as $260,000 of the <br />city's $296,000 audit budget is directed to sales tax audits, which is not a significant source of <br />revenue for Eugene. <br />