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tentative Schedule <br /> The following is a schedule of steps to be performed during the audit process,our staff involvement,and timing. <br /> Description of Audit Work Staff Level Timing <br /> Planning with Finance Director and Staff, including presentation of Shareholder March <br /> requested information list Managers <br /> Audit planning to include assembly of audit programs,scheduling of Shareholder March/April <br /> staff,documentation of risk assessments,internal control review and Mangers <br /> audit approach implementation, review of confirmations, review of Senior <br /> budget,organizational charts, manuals and programs,and <br /> development of overall audit staff <br /> Initial year procedures, including preliminary materiality calculations Managers April <br /> and identification of major funds,walk-throughs,systems Senior <br /> documentation, review of predecessor auditors' reports and Staff <br /> workpapers,file set-up,and selected testing of opening balances <br /> Interim audit procedures including testing of grants and other Managers April <br /> compliance requirements and testing of internal controls,testing of Senior <br /> capital asset additions and infrastructure/project expenditures,and Staff <br /> testing of major revenue sources including property taxes,charges <br /> for services and intergovernmental revenues. County personnel will <br /> be requested to prepare workpapers and pull documents. <br /> Year-end cut-off procedures including confirmation of cash and Senior July <br /> investments Staff <br /> Year-end testing of account balances,of funds,and account groups. Managers August <br /> Example of typical audit tests include(but are not limited to): Senior <br /> reconciliation and confirmation of cash and investment accounts, Staff <br /> confirmation of federal and state funding sources, property tax <br /> receivable testing,capital asset testing,confirmation of debt <br /> issuances,A/P and accrued liabilities completeness testing, pension <br /> and OPEB liability testing,and substantive analytical procedures <br /> performed over expected financial and non-financial relationships. <br /> Review of audit workpapers and report by shareholder and manager, Shareholders August—October <br /> including concurring shareholder technical review Managers <br /> ellio- t dais <br /> decosi mo 12 <br /> Attachment number 1 \n <br /> F-4 Page 76 <br />