1 Finance and Administration Committee
AGENDA
Finance and Administration Committee – Special Meeting
May 14, 2025 03:00 PM
35 Third Ave, Portola, CA 96122
https://www.cityofportola.com/
Mayor Jim Murphy • Councilmember Pat Morton
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1. Call to Order
A. Roll Call
2. Public Comments
Discussion Comment
This section is intended to provide members of the public with an opportunity to comment on any subject that does not appear on this agenda. Please note that California law prohibits the City Council from taking action on any matter which is not on the posted agenda, unless it is determined to be an urgency item by the City Council. Any member of the public wishing to address the City Council during “PUBLIC COMMENT” shall first secure permission of the presiding officer, stand; may give his/her name and address to the Clerk for the record. Each person addressing the City Council shall be limited to five minutes ordinarily, unless the presiding officer indicates a different amount will be allotted.
3. Independent audit provider quote for years 2026-2028 Discussion Possible Action Comment View Item
Discuss the attached quote provided by Clifton Larson Allen LLP for independent auditing services. 2 4. Adjournment
April 22, 2025
Susan Scarlett
City of Portola, California
35 Third Ave
Portola, CA 96122
Dear Susan:
Thank you for the opportunity to continue to serve the City of Portola (the City) as your independent audit provider for the years ended June 30, 2026, 2027 and 2028. Over the years, our partnership has been built on a foundation of trust, professionalism, and a shared commitment to excellence. We have thoroughly enjoyed working with your team and are confident that our continued collaboration will continue to enhance our partnership.
Based on our understanding of the City and its operations, we propose fees of $43,500, $45,000 and $46,500 for the years ended June 30, 2026, 2027 and 2028, respectively. The quoted fees include the audit of the basic Financial Statements of the City, calculation of the City's Pension Liability based on CalPERS GASB 68 CostSharing Accounting Valuation Report and the GANN Appropriations Limit agreed upon procedures. The table below breaks down the cost by deliverable.
JUNE 30,
2026
JUNE 30,
2027
JUNE 30,
2028
AUDIT OF THE CITY' S BASIC FINANCIAL STATEMENTS $41,500 $43,000 $44,500
CACULATION OF THE CITY'S PENSION LIABILITY BASED ON CALPERS GASB 8 COST-SHARING ACCOUNTING VALUATION REPORT
$1,250 $1,250 $1,250
GANN APPROPRIATIONS LIMIT AGEED UPON PROCEDURES $750 $750 $750 TOTAL $43,500 $45,000 $46,500
CliftonLarsonAllen LLP
CLAconnect.com
At CLA, we are committed to a transparent and predictable pricing structure. We limit annual fee increases and adopt a no-surprises approach. This means that you can expect consistent and reliable pricing without unexpected changes. Our goal is to provide exceptional service while maintaining the highest standards of integrity and professionalism. Our fixed-fee quote is designed with an understanding that:
o City personnel will provide documents and information requested in a timely fashion. o City information will be available in September to being testwork, or at an agreed upon date. o The operations of the City do not change significantly. o There are no significant changes to the scope, including no significant changes in auditing, accounting, or reporting requirements.
Thank you again for this opportunity and please contact us if we can provide additional information on our firm or our proposal.
Sincerely,
CliftonLarsonAllen LLP
Brianne Wiese, CPA
Principal
310-592-3940
[email protected]