AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO EXECUTE AN ENGAGEMENT LETTER FOR AUDITING SERVICES WITH KEEFE MCCULLOUGH & CO. LLP PURSUANT TO RFP NO. 06-12-19-10.
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BACKGROUND:
On May 12, 2019, the City issued Request for Proposals (RFP) No. 06-12-19-10 to contract with a qualified firm to provide auditing services. Services include providing an annual examination of the City’s financial records to form an opinion on the financial statements, determining whether operations were conducted in accordance with legal and regulatory requirements, and providing for other auditing services as requested.
DISCUSSION:
The City received four (4) responsive proposals, which were evaluated based on criteria in the RFP by an audit committee consisting of Karen M. Brooks, Deputy City Manager/CFO; Peta-Gay Lake, Deputy Director of Finance and Administrative Services; Eileen Cabrera, Engineer II of Utilities and Engineering; and Kim Moskowitz, Director of Financial Services, City of Coral Springs. After evaluating the submittals, the audit committee ranked Keefe McCullough & Co. LLP first, Moore Stephens Lovelace, P.A. second and GLSC & Company, PLLC third. The audit committee recommends number one ranked firm Keefe McCullough & Co. LLP for contract award. The initial contract period shall be for three (3) years with the option to renew for two (2) additional one (1) year periods.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT:
REVENUES: $ 0
EXPENDITURES: $ 192,750
BUDGETED? Yes
NOTES: Annual costs are as follows: Year 1 - $63,050; Year 2 - $64,250; and Year 3 - $ 65,450. Funding will be provided for during the annual budget process in Accounts 0141-3200, Finance & Admin Audit, and 4143-3200, Utility Billing Audit, for each respective year.