The following is a recap of Internal Audit Department projects and activities during August 2021:

Airline Rates and Charges: Development of proposed FY 2022 airline rates and charges was completed and presented to the Authority Board as part of the overall FY 2022 budget proposal. Following presentation to the Board, the proposed FY 2022 budget, including airline rates and charges, were presented to SRQ's signatory air carriers.

Monthly Investment Activity Compliance Report: On August 25, 2021, a FNMA note in the principal sum of $2.0 million and originally purchased at par to yield 1.40% for the 5-year term, matured. The proceeds were deposited to the Authority's account at SunTrust Bank.

At month-end, $48.9 million, or 100% of total cash and investments, was on deposit with SunTrust Bank earning a fixed rate of 1.90%. This premium fixed rate arrangement will end 9/30/21. Strategies for re-investing a portion of this cash balance are being explored.

Risk Management: Continued evaluations of markets and discussions with agents concerning renewal of Authority insurance coverages scheduled to expire September 30, 2021.

Compliance: Continued efforts to ensure compliance with Florida Statue 332.0075, providing for transparency and accountability at Florida's commercial service airports

Purchasing: Participated on selection committee for purchase of Managed Network Services vendor.

Parking: Parking operations are reviewed and tested monthly by Internal Audit. In August, a total of 122 parking passes or stickers were distributed to the Badging Office and Purchasing Department. At month-end, there were two vehicles in the airport parking lots that were being monitored for possible abandonment.

Records Requests: The Records Department received and processed 8 external/public record requests and 2 internal records requests during August.

Management of Paper Records: The Records Department received and processed 26 central file records and scanned 7 boxes of inactive records to the Authority's Enterprise Content Management System. The associated paper records were shredded. A total of 14 bags of obsolete, superseded, and duplicate records equaling 17.5 cubic feet were shredded per Authority directives and in accordance with Florida statutes.

Continuing Education: The Record Retention Coordinator attended the Laserfiche Spark virtual presentation and received ARMA training on unstructured data. The department director virtually attended the FAA Civil Rights Compliance Training Conference and the FICPA Florida State & Local Government Accounting Conference.

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