City Council
259 N. Wilma Avenue
Ripon, CA 95366
MEMO
To: Honorable City Council
From: Lisa Roos, City Clerk & Finance Director
Date: 04/08/2025
Subject: Audit Engagement Letters
RECOMMENDED ACTION:
Approve and authorize the Mayor and City Administrator to sign the engagement letters with Price Paige & Company to perform the annual audit of the City of Ripon Financial Statements and the Money Purchase Thrift Pension Plan for the fiscal year ending June 30, 2025 in the amount of $57,260.00 (funding sources: General Fund; Water, Garbage, and Sewer Enterprise Operating Funds; Streets & Roads Fund; Transit Operating Fund).
BACKGROUND:
Price Paige & Company of Clovis, CA, has been performing the annual audits of the City of Ripon Financial Statements and the Money Purchase Thrift Pension Plan since fiscal year ended June 30, 2015. Staff has requested an engagement letter to continue to provide auditing services for the fiscal year ending June 30, 2025.
DISCUSSION:
The attached engagement letters are for the audit of the City Financial Statement, the filing of required State Controller Reports, and audit of the Money Purchase Thrift Pension Plan.
Proposed costs for fiscal year ending June 30, 2025 compared to fiscal year ending June 30, 2024 are in Table 1 below.
Table 1:
FYE 6/30/2025 FYE 6/30/2024 Percent Increase
Annual Financial Statement Audit $39,150 $37,800
State Controller’s Reports $8,220 $8,220
Money Purchase Thrift Pension Plan Audit $9,890 $9,503
Total $57,260 $55,523 3.0%
The audit expenses increased 3 percent as compared to fiscal year ending 6/30/24.
FISCAL IMPACT:
The audit will be paid for from the following funding sources:
General Fund $37,260
Water Enterprise Operating Fund $4,900
Garbage Enterprise Operating Fund $3,100
Sewer Enterprise Operating Fund $3,300
Street & Roads Fund $7,100
Transit Fund $1,600
Grand Total $57,260
Attachments:
1. RIIPON Audit Engagement Letter 2025
2. RIPON SCO Engagement Letter 2025
3. RIPON PENSION Audit Engagement Letter 2025