CITY OF COMMERCEAGENDA REPORTCITY OF COMMERCEAGENDA REPORT
CITY OF COMMERCE
AGENDA REPORT
CITY OF COMMERCE
AGENDA REPORT
Item No. Item No.
Item No.
Item No.
TO: Honorable City Council
FROM: City Manager
SUBJECT: Request for Proposals to Provide Auditing Services to the City of Commerce Meeting Date: February 21, 2023
RECOMMENDATION:
Authorize staff to proceed with the issuance of a Request for Proposals to provide Auditing Services for the City of Commerce from qualified firms of certified public accountant firms to audit its financial statements for three fiscal years beginning with the fiscal year ending June 30, 2023, with the City’s option to extend their auditing services for an additional two (2) subsequent fiscal years.
BACKGROUND/ANALYSIS:
The City had retained the services of Davis Farr LLP for a five-year period to provide auditing services. Davis Farr, LLP has been very professional and diligent in the services they have provided. However, best practices typically call for cities to rotate auditing firms and policy dictates that we go out to bid after the completion of the agreement. Therefore, staff is requesting that the Council approve the attached Request for Proposal (RFP), in order to facilitate the bidding process and select the firm deemed appropriate to provide Auditing Services for a minimum of three (3) fiscal years with the City’s option to extend an additional (2) fiscal years.
ALTERNATIVES:
Approve staff recommendation
Provide staff with further direction
FISCAL IMPACT:
This activity can be carried out without additional impact on the current operating budget. Once the bids are received staff can determine whether or not there are sufficient funds in the current operating budget for the remainder of the project. Consequently, a request for additional funds may be a component when staff returns with their recommendation of the firm they deem appropriate to provide auditing services for the next three fiscal years. The contract will include a provision to allow for annual rate adjustment based on the consumer price index at the City’s discretion.
RELATIONSHIP TO STRATEGIC GOALS:
The proposed Resolution is associated with Council’s goal of growing revenues to ensure all expenses are being met so that we can remain fiscally responsible.
Respectfully submitted: Edgar P. Cisneros, City Manager Recommended by: Josh Brooks, Director of Finance
Reviewed by: Vilko Domic, Assistant City Manager
Approved as to form: Noel Tapia, City Attorney
ATTACHMENT:
Request for Proposals