25H - ACCOUNTING MANAGEMENT SER - Laserfiche WebLink

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CITY COUNCIL MEETING DATE: ~ ~ REQUEST FOR COUNCIL ACTION CLERK OF COUNCIL USE ONLY: FEBRUARY 22, 2005 TITLE: APPROVED D As Recommended D As Amended D Ordinance on 151 Reading D Ordinance on 2nd Reading D Implementing Resolution D Set Public Hearing For AGREEMENT FOR ACCOUNTING MANAGEMENT SERVICES - MORELAND & ASSOCIATES, INC. {q~CL- CITY ANAGER CONTINUED TO FILE NUMBER RECOMMENDED ACTION Direct the City Attorney to prepare and authorize the City Manager and the Clerk of the Council to execute an agreement with the accounting firm, Moreland & Associates, Inc., for accounting management services in an amount not to exceed $75,000. DISCUSSION The Accounting Division of the Finance Department is responsible for ensuring compliance with the various rules and requirements mandated through Government Accounting Standards Board (GASB) pronouncements, generally accepted accounting principles (GAAP), as well as Federal and State laws. More importantly, the division is responsible for the preparation of the City's financial report and ancillary audits. After careful review, the Finance Agency proposes a restructuring of the Accounting Division that will continue to ensure proper supervision, direction, and training. During the transition and in order to ensure proper coordination and direction of accounting staff, staff is recommending the accounting firm of Moreland & Associates, Inc. to assist with accounting management services on an interim basis. Moreland & Associates, Inc. has agreed to provide these services while the City finalizes the restructuring of the Accounting Division. In addition, they have agreed to provide technical training to City staff in areas that are impacted by new requirements issued under GASB or GAAP. 25H-1