Kentucky Public Pensions Authority Audit Committee Meeting Minutes
The Audit Committee discussed several key items, including external audit updates regarding GASB 68 and 75, reports on potential disclosure breaches, and anonymous fraud tips received. The committee reviewed proposed updates to the Audit Committee Charter and the Division of Internal Audit Charter to align with national standards, ultimately tabling votes on these items for further information. Additionally, the committee accepted reports on the 2025-8 Inventory Observation, member benefit payment processes, and a review of the procurement process. Research regarding the Retirement Allowance Account was presented, confirming it functions as a fund balance rather than a separate bank or investment account. Finally, the committee received an update on the Office Space Utilization Project and reviewed independence statements for internal audit staff.