Report to Mayor and City Council
Tuesday, January 09, 2024
Consent
SUBJECT:
Title
CONSIDER APPROVING AMENDMENT NO. 2 OF THE AGREEMENT WITH VASQUEZ AND COMPANY, LLP FOR AN ADDITIONAL ONE-YEAR TERM FOR THE AUDIT OF THE CITY'S FISCAL YEAR 2023-24 ANNUAL COMPRHENSIVE FINANCIAL REPORT (ACFR) AND THE FINANCIAL AND COMPLIANCE AUDIT FOR MEASURE W - SAFE, CLEAN WATER REGIONAL PROGRAM OF THE SPECIAL REVENUE FUND
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I. SUMMARY
This report is to request Council's approval of Amendment No. 2 with Vasquez and Company, LLP for an additional one-year term for the audit of the City's Fiscal Year 2023-24 Annual Comprehensive Financial Report (ACFR) and the financial and compliance audit of Measure W - Safe, Clean Water Regional Program of the Special Revenue Fund. The referenced professional services extend beyond the scope of services specified within the original contract.
II. RECOMMENDATION
Recommendation
TAKE the following actions:
1. APPROVE Amendment No. 2 of the original Agreement with Vasquez and Company, LLP, for an additional one-year term, which extends from June 15, 2024, to June 14, 2025, for the audit of the City's Fiscal Year 2023-24 Annual Comprehensive Financial Report (ACFR) and the financial and compliance audit of Measure W - Safe, Clean Water Regional Program of the Special Revenue Fund.
2. AUTHORIZE the Mayor to execute Amendment No. 2 following approval as to form by the City Attorney. .
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III. ALTERNATIVES
TAKE another action as deemed appropriate by the City Council.
IV. BACKGROUND
On June 15, 2021, the City and Vasquez & Company, LLP entered into an initial Agreement, whereby Consultant agreed to provide an independent audit of the City's financial statements and other related services as needed. The original Agreement was for a three-year term beginning fiscal year ending June 30, 2021, through June 30, 2023, for the base amount of $71,001 ann...
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