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AUDIT COMMITTEE AGENDA 12-1-11

LACERA

300 N. Lake Ave., Suite 810
Pasadena, CA 91101

9:00 AM

2011 COMMITTEE MEMBERS

• Simon S. Russin, Chair
• Michael Schneider, Vice Chair
• John M. Barger, Secretary
• Ed C. Morris
• Les Robbins

CONSULTANT

• Timothy O’Brien — Audit Committee Consultant

1. APPROVAL OF THE MINUTES OF THE REGULAR AUDIT COMMITTEE MEETING OF JULY 20, 2011
2. PUBLIC COMMENT
3. REPORTS
   1. Brown Armstrong Presentation of the Reports for Fiscal Year Ended
      June 30, 2011

      Presentation by: Brown Armstrong, Certified Public Accountants
      Connie Perez, Partner
      Eric Berman, Partner
      (Brown Armstrong Agenda Outline)

   2. Internal Audit Status Report (As of October 31, 2011)

      Richard Bendall, Chief Internal Auditor
      Sarah Marks, Principal Internal Auditor
      (Memo dated November 18, 2011)

   3. Audit Reports

      a. PBI
      b. Benefit Conversion Purchases
      c. Rehired Retirees
      d. Invesco Property Managers
      e. Disaster Recovery

   4. Status of Other External Audits Not Conducted at the Discretion of Internal Audit

      Richard Bendall, Chief Audit Executive
      (Verbal Presentation Only)

4. ACTION ITEMS
   1. Recommendation as submitted by Sarah Marks, Principal Internal Auditor and Darla Vidger, Internal Auditor, that the Audit Committee approve the revised Statement of Work and instruct Internal Audit to issue a RFP for an Audit Committee Consultant, and bring recommended finalist candidates to the March 2012 Committee Meeting for interview and selection. (Memo dated November 15, 2011)
   2. Recommendation as submitted by Sarah Marks, Principal Internal Auditor, that the Audit Committee approve the permanent rescheduling of the annual November Audit Committee Meeting to the first Thursday of each December. (Memo dated November 15, 2011)
5. FOR INFORMATION ONLY

   Nothing to report.

6. CONSULTANT COMMENTS

   Timothy O’Brien — Audit Committee Consultant (Oral presentation only)

7. GOOD OF THE ORDER

   (For discussion purposes only)

8. ADJOURNMENT

Documents subject to public disclosure that relate to an agenda item for an open session of the Audit Committee that are distributed to members of the Audit Committee less than 72 hours prior to the meeting will be available for public inspection at the time they are distributed to a majority of the Audit Committee Members at LACERA’s offices at 300 N. Lake Avenue, Suite 820, Pasadena, CA 91101, during normal business hours of 9:00 a.m. to 5:00 p.m. Monday through Friday.

Listening Devices are available at days notice before the meeting date. Persons requiring an alternative format of this public notice pursuant to Section 202 of the Americans with Disabilities Act of 1990 may request one by contacting Cynthia Guider at (626) 564-6000, x3327 from 8:30 a.m. to 5:00 p.m. Monday through Friday, but no later than 48 hours prior to the time the meeting is to commence.

7/13/11