AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO EXECUTE AN AGREEMENT FOR AUDITING SERVICES WITH CITRIN COOPERMAN & COMPANY, LLP PURSUANT TO RFP NO. 05-08-24-11.
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BACKGROUND:
On April 7, 2024, the City issued Request for Proposals (RFP) No. 05-08-24-11 to contract with a qualified firm to provide auditing services. Services include providing an annual examination of the City’s financial records using financial statements, determining whether operations were conducted in accordance with legal and regulatory requirements, and providing other auditing services as needed upon request.
DISCUSSION:
The City received six (6) responsive proposals, which were evaluated based on the criteria in the RFP by the auditor selection committee consisting of Jackie Railey, City of Coconut Creek Vice Mayor (Committee Chair); Chelsie Wilson, Controller, Town of Davie; Christine Cajuste, Director of Financial Services, City of Tamarac; Kim Moskowitz, Director of Finance, City of Coral Springs; and Kelly Schwartz, Finance Director, City of North Lauderdale. After evaluating the proposals, the auditor selection committee ranked Citrin Cooperman & Company number one (1), Marcum, LLP number two (2), and Maudlin & Jenkins, LLC number three (3). The auditor selection committee recommends the number one (1) ranked firm, Citrin Cooperman & Company, for contract award. The contract term shall be for five (5) years pursuant to the City Charter, Article III, “City Commission,” Section 308.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT:
REVENUES: $ 0
EXPENDITURES: $ 418,479
BUDGETED? Yes
NOTES: Annual costs are as follows: Year 1-2024 - $75,730; Year 2-2025 - $79,522; Year 3-2026 - $83,498; Year 4-2027 - $87,673, and Year 5-2028 - $92,056. Funding will be provided for during the annual budget process in Accounts 0141-3200 and 4143-3200, Audit Services, for each respective year.