The following is a recap of Internal Audit Department projects and activities during October 2021:
External Audit: Following the end of the Authority's fiscal year on September 30, preparation began for the annual independent audit scheduled to commence early December.
Monthly Investment Activity Compliance Report: Effective 10/1/21, the Authority's negotiated fixed interest rate agreement with SunTrust Bank ended. During the two-year term of this agreement, the Authority had earned 1.90% on all available funds on deposit with the bank. On the termination date of the agreement, the Authority had approximately $52.2 million on deposit at SunTrust Bank. On 10/8/21, the Authority purchased a two-year US Treasury Note with a par value of $10.0 million to yield .2503% for the term. On 10/13/21 the Authority purchased a 3-month CD at Bank United for $20.0 million to earn a fixed rate of .10% for the term. This activity is compliant with the Authority's Investment Policy. There were no other additions, sales, maturities or calls in the investment portfolio during October.
Airport Concessions Disadvantaged Business Enterprise Program and Goals: Work continued on preparing a triennial goal for the ACDBE program for the period ending 9/30/2024. Efforts to obtain fleet purchase data from our rental car concessionaires slow to produce results.
Miscellaneous Compliance Matters: Coordinated efforts to ensure compliance with F.S. 332.0075. The statute is applicable exclusively to Florida's commercial service airports and required the submission of certain documents to the Florida Department of Transportation, multiple website disclosures, and amendments to purchasing policies and procedures.
Parking: Parking operations are reviewed and tested monthly by Internal Audit. During October, a total of 257 all-day parking stickers or passes were distributed to Badging, Human Resources, and Marketing. At month-end, there were three vehicles in the airport parking lots that were being monitored for possible abandonment.
Records Requests: The Records Department received and processed 5 external/public record requests and 2 internal records requests during October.
Management of Paper Records: The Records Department received and processed 29 central file records and processed 7 boxes of inactive records to the Authority's Enterprise Content Management System. The associated paper records were shredded. A total of 13 bags of obsolete, superseded, and duplicate records equaling 19.5 cubic feet were shredded per Authority directives and in accordance with Florida statutes. An interim records disposition was prepared and authorized by affected departments. The disposition will result in outsourced shredding of 130 boxes of paper records in early November.
Continuing Education: The department participated in numerous web-based educational sessions during the month on a variety of records management, accounting, security, and risk management topics.