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REQUEST FOR <br /> COUNCIL ACTION <br /> CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br /> MARCH 1, 2010 <br /> TITLE: APPROVED <br /> ? As Recommended <br /> AMEND AGREEMENT WITH MACIAS GINI & ? As Amended <br /> O'CONNELL LLT FOR COMPREHENSIVE ? Ordinance on 1~dReading <br /> ? Ordinance on 2 Reading <br /> FINANCIAL AUDIT SERVICES ? Implementing Resolution <br /> ? Set Public Hearing For <br /> ~ CONTINUED TO <br /> ~ ~-t.~--~- FILE NUMBER _ <br /> CITY MANAGER <br /> RECOMMENDED ACTION <br /> Authorize the City Manager and Clerk of the Council to execute the attached agreement with <br /> Macias Gini & O'Connell, LLP, subject to non-substantive changes approved by the City Manager <br /> and City Attorney, to provide for comprehensive financial audit services, in an amount not to <br /> exceed $355,800. <br /> DISCUSSION <br /> On May 1, 2006 the City Council awarded a contract to Macias Gini & O'Connell, LLP for <br /> comprehensive financial audit services for afour-year period covering fiscal years 2005-06 thru <br /> 2008-09 inclusive. The contract was amended on June 2, 2008 for additional services to <br /> implement the new auditing standards (Statement of Auditing Standards Nos. 104-111, 114) and <br /> to assist City staff in the completion of the annual financial statements during the implementation <br /> of the financial system. <br /> In order to provide continuity in the area of comprehensive financial audit services and given the <br /> fact that the Macias Gini & O'Connell audit staff has established a track record of working <br /> professionally and successfully with the City's finance staff on financial matters, current GASB <br /> statements and other internal control and compliance related matters, staff is recommending <br /> extending their audit services for atwo-year period covering fiscal years 2009-10 thru 2010-11 <br /> inclusive. Upon conclusion of the extension, a new bid for audit services will be conducted. <br /> Macias Gini & O'Connell, LLP continues to provide staff with extensive experience in <br /> <br /> governmental auditing, accounting, and financial reporting. No problems or irregularities have <br /> <br /> developed during their engagement with the City, and their work has always been professionally <br /> <br /> competent. <br /> 251-1 <br /> <br />