LEGISLATIVE ACTION ITEM
SPONSOR: Grover C. Robinson, IV, Mayor
SUBJECT:
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AWARD OF FIVE YEAR CONTRACT TO WARREN AVERETT, LLC FOR REQUEST FOR PROFESSIONAL AUDITING SERVICES
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RECOMMENDATION:
recommendation
That City Council enter into a five (5) year contract with Warren Averett, LLC for Professional Auditing Services. Further, that City Council authorize the City Council President to take all actions necessary to negotiate and execute the contract, as well as approve and execute the annual letters of engagement.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
On December 14, 2017, in accordance with City Council’s Financial Planning and Administration Policy, City Council voted to establish itself as the Audit Committee and issue a Request for Qualifications (RFQ) for external audit services. Proposals were received from four (4) firms and on May 10, 2018, City Council awarded Warren Averett, LLC a five (5) year contract for professional auditing services. The current contract is set to expire upon completion of the City’s fiscal year 2022 audit. Staff is requesting that City Council retain Warren Averett, LLC for an additional five (5) year period. Warren Averett, LLC has agreed to continue services at a two percent (2%) annual increase. The proposed fixed fee for the City Audit over the next five fiscal years is:
2023 $101,620
2024 $103,650
2025 $105,723
2026 $107,840
2027 $110,000
Upon approval by City Council, staff will work with Warren Averett, LLC to draft the auditing services contract for execution by the City Council President.
PRIOR ACTION:
May 10, 2018 - City Council approved item 18-00195 selecting Warren Averett, LLC for award of a five (5) year contract for RFP 18-010 Professional Auditing Services.
FUNDING:
N/A
FINANCIAL IMPACT:
The cost of the City’s independent audit is included in the City Council’s annual budget.
LEGAL REVIEW ONLY BY CITY ATTORNEY: Yes
5/26/2022
STAFF CONTACT:
Kerrith Fiddler, City Administrator
Amy Lovoy, Finance Director
ATTACHMENTS:
1) May 31, 2018 Contract for Auditing Services
PRESENTATION: No end