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INTERNAL AUDIT
ATTESTATION ENGAGEMENT - AGREED UPON PROCEDURES
Pallino SeaTac, LLC
January 2023 – June 2023
Issue Date: March 18, 2024
Report No. 2024-02
Pallino Seatac, LLC
2
Executive Summary
Internal Audit completed an attestation engagement to assess compliance with the Lease and
Concession Agreement (Agreement) between Pallino SeaTac, LLC and the Port of Seattle (Port).
The period reviewed was January 1, 2023, through June 30, 2023.
We conducted the engagement in accordance with Generally Accepted Government Auditing
Standards. Internal Audit did not conduct an examination or a review of the subject matter, the objective
of which would be the expression of an opinion or a conclusion. Had we performed additional
procedures, other matters may have come to our attention that would have been reported. The
procedures and results are captured below.
Procedures Performed
1. Validated that percentage fees were calculated correctly and in accordance with the lease revenue
thresholds.
Result: We identified no exceptions.
2. Agreed the concessionaire’s monthly general ledger sales data to what was provided to the
Accounting & Financial Reporting Department.
Result: We identified no exceptions.
3. Agreed point of sale summary reports to the general ledger.
Result: We identified no exceptions.
4. Reviewed the Profit & Loss statements for variances.
Result: We identified no exceptions.
5. Reviewed a random sample of invoices to determine if they were paid on time and for the full amount
charged.
Result: We identified no exceptions.
Glenn Fernandes, CPA
Director, Internal Audit
