Kirangi 12-07-2010 Committee Briefing
Internal Audit Briefing Presented to the Port of Seattle Audit Committee and Tay Yoshitani, CEO Joyce Kirangi, CPA Director, Internal Audit December 7, 2010 Agenda Audit Report Lease and Concession Audits Sodexho America Smarte Carte 2011 Work Plan Preliminary Discussion Prior Year Audit Coverage Preliminary 2011 Audit Coverage Lease and Concession Audits Background Sodexho America Vending machine concessionaire Currently operates 80+ machines throughout the airport 2007-2008 2008-2009 2009-2010 Reported Gross $1,727,461 $1,517,078 $1,427,206 Concession Paid 649,359 602036 526,870 Smarte Carte Luggage cart and charging station concessionaire Currently operates 50+ stations throughout the airport 2007 2008 2009 Reported Gross $1,086,427 $924,577 $844,276 Concession Paid 530,796 566,253 486,805 Lease and Concession Audits Audit Objectives The purpose of the Lease and Concession audits was to determine whether: 1) Reported concession was complete, properly calculated and remitted timely to the Port. 2) Port and the lessee complied with provisions of the Lease and Concession Agreement. 3) Lease and Concession Agreement, as amended, complies with applicable state and Port requirements. Lease and Concession Audits Audit Result Sodexho America Untimely Payments Management Letter Item Noncompliance with Business Enterprise Program (RCW 74.18.200 through 74.18.230) Smarte Carte Clean Audit Report 2010 Work Plan Status 2010 Work Plan Status No. of Audits Exited in 2010 18 No. of Special Projects Completed 4 No. of Ongoing Audits 5 in the wrap-up stage. 6 at/around the end of fieldwork. All fieldwork will be completed by year end. Carryover to 2011 Work Plan 5 2011 Work Plan Discussion Prior Year Audit Coverage 2008 2009 2010 Aviation 6 13 19 Cap. Dev. 3 0 1 Corp. 1 6 6 Real Estate 7 3 2 Seaport 2 2 1 19 24 29 2011 Work Plan Discussion Prior Year Audit Coverage 2008 2009 2010 Aviation 32% 54% 66% Cap. Dev. 16% 3% Corp. 5% 25% 21% Real Estate 37% 13% 7% Seaport 10% 8% 3% 2011 Work Plan Discussion Preliminary 2011 Audit Coverage Actual Preliminary* 2007 2008 2009 2010 2011 Systems 1 1 2 1 Department 6 7 7 5 1 rd 3 Party 0 2 1 1 Leases 5 8 11 11 2 Follow-Up 0 0 0 3 Continuous M. 0 0 0 2 Performance 0 0 0 5 2 ERM 0 0 0 1 Contingency 0 1 3 0 12 19 24 29 25 * includes 2010 carryovers
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