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<br />Award of Contract for Comprehensive <br />Financial Audit Services <br />May 1, 2006 <br />Page 2 <br /> <br />Firms <br /> <br />Proposal <br />Score <br /> <br />4-Year <br />Total <br /> <br />Moreland & Associates, Inc. <br />Lance, Soll & Lunghard, LLP <br />Macias, Gini & Company, LLP <br />KPMG, LLP <br /> <br />94.4 <br />84.0 <br />78.6 <br />71.0 <br /> <br />$469,500 <br />$433,830 <br />$1,006,059 <br />$1,050,000 <br /> <br />Moreland & Associates, Inc. was selected as the best firm to conduct the <br />City's annual financial audit. They demonstrated adequate staffing and <br />technical knowledge for a city the size of Santa Ana. Lance, Soll & <br />Lunghard, LLP also demonstrated good technical knowledge, but the committee <br />had concerns regarding the adequacy of the staffing levels to perform the <br />audit given the multiple services required. As such, the committee <br />determined that the eventual cost could far exceed the proposal cost as <br />submitted. <br /> <br />Gi ven these circumstances, staff recommends contracting with Moreland & <br />Associates, Inc. to perform the annual audit services. Moreland & <br />Associates, Inc. is a large regional firm that is well-established in the <br />community with extensive experience in governmental auditing, accounting, <br />and financial reporting. The firm has serviced a number of larger agencies <br />including Garden Grove, Municipal Water District of Orange County, the <br />County of Orange, Fountain Valley, Tustin, Escondido and Fullerton. <br /> <br />FISCAL IMPACT <br /> <br />Funds for these services will be included in the proposed FY 2006-07 <br />Finance and Management Services Agency budget within the Accounting and <br />Budget Division (account 11-171-6191) to cover the audit costs related to <br />the City's general fund in the first year, with additional funds in the <br />Redevelopment Agency, Housing Authority and CDBG programs for their <br />respective costs. Additional funds will be budgeted on an annual basis to <br />cover the audit fees and or other services requested in subsequent fiscal <br />years. The four year total includes the quoted audit fees and additional <br />funds staff determined may be needed for additional services. <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />~~tft <br /> <br />I~ancisco Gutierrez <br />~ Executive Director <br />Finance & Management <br /> <br />~ <br /> <br />u <br /> <br />Services Agency <br /> <br />251-2 <br /> <br />