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Agreement with Macias Gini & O'Connell LLP <br />For Financial Audit Services <br />April 16, 2012 <br />Page 2 <br />by Generally Accepted Accounting Standards (GAAS). Staff will partner with the audit firm in <br />identifying and analyzing additional components of the City's financial structure which include <br />operational audits, disclosure requirements, financial trends and fiscal health analysis. <br />Proposals were sent to seven established accounting firms including the City's current audit <br />provider Macias, Gini & O'Connell. Four of the seven accounting firms responded. The <br />remaining three firms did not respond to the RFP indicating a lack of adequate staff to conduct <br />the audit given the complexity and size of the City. <br />A five-member selection committee evaluated the four proposals submitted. The evaluation was <br />base on several factors, including the firms' technical qualifications, thoroughness of auditors <br />proposed scope of work, experience with similarly sized governmental agencies, strength of <br />redevelopment experience and knowledge, and willingness to add additional analytical capacity. <br />Proposal <br />Firms Score <br />Macias Gini & O'Connell, LLP 88.0 <br />Mayer Hoffman McCann P.C. 84.6 <br />Vavrinek, Trine, Day & Company, LLP 68.0 <br />Vasquez & Company, LLP 63.2 <br />Macias Gini & O'Connell, LLP (MGO) was selected as the best firm to conduct the City's annual <br />financial audit. They demonstrated adequate staffing and technical knowledge for a city the size <br />of Santa Ana. MGO has demonstrated a high level of knowledge regarding redevelopment as <br />well as a heightened knowledge regarding successor agencies, Enforceable Obligation Payment <br />Schedule (EOPS), and Recognized Obligation Schedule (ROPS). Recently, MGO was retained <br />by the County of Orange to perform the Agreed Upon Procedures (AUP) related to the dissolution <br />of Redevelopment Agencies, as required by Health & Safety Code Section 34182, for more than <br />half of the Orange County cities. <br />Additionally, MGO's strength in redevelopment will be critical as the City closes its <br />Redevelopment Agency and develops the appropriate accounting mechanisms for the new <br />successor agency. <br />25D-2