The following is a recap of Internal Audit Department projects and activities during October 2020:

Pandemic Response: Efforts continued toward understanding how other US airports are responding to the pandemic from a risk and financial management perspective and assisting with the response at SRQ.

Monthly Investment Activity Compliance Report: On 10/27/20, the issuer, FNMA, called away a 5-year note that had been held in the Authority's investment portfolio since original issuance on 10/27/16. The note had been purchased at a slight discount and carried a coupon of 1.50%. The funds received on the call date were deposited to the Authority's transaction account at Suntrust/Truist where these excess funds currently earn a rate of 1.90%. The rate of 1.90% is fixed until 9/30/21 and the funds can be withdrawn at any time without penalty. 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.

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.

Disadvantaged Business Enterprise Compliance: Established parameters for new MBE program that will be applied on non-federally funded contracts to expand participation by local minority, women, and veteran-owned firms.

Miscellaneous Compliance Matters: Coordinated efforts toward Authority compliance with newly enacted Florida statute 332.0075 regarding commercial service airports.

Parking: Parking operations are reviewed and tested monthly by Internal Audit. At month-end, there were four vehicles in the airport parking lots that were being monitored for possible abandonment.

Records Requests: The Records Department received and processed 9 external/public record requests and 3 internal records requests during October.

Management of Paper Records: The Records Department received and processed 45 central file records and processed one box of inactive records to the records storage area during October. An additional 5 boxes were received, scanned, and processed electronically to the Authority's Enterprise Content Management System. The associated paper records were shredded. A total of 6 bags of obsolete, superseded, and duplicate records equaling 9.0 cubic feet were shredded per Authority directives and in accordance with Florida statutes.

Continuing Education: The department participated in numerous web-based educational sessions during the month on a variety of records management, civil rights compliance, audit, and IT security subjects.

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