Report to Mayor and City Council
Tuesday, June 15, 2021
Consent
SUBJECT:
Title
CONSIDER APPROVAL OF AGREEMENT FOR CONTRACT SERVICES TO VASQUEZ & COMPANY LLP FOR PROFESSIONAL INDEPENDENT AUDIT SERVICES (CITY COUNCIL)
Body
I. SUMMARY
The City retains a professional independent auditor to perform an annual audit of the City's financial statements and provide other related services as needed. On March 25, 2021, the City issued a Request for Proposal ("RFP") seeking qualified firms to provide independent audit of the City's financial statements. The auditing of the City's financial statements is currently contracted with CLIFTONLARSONALLEN LLP ("CLA"). The present contract was approved and issued in June 2016, which is set to expire in June 2021.
Four proposals were received by the RFP deadline of April 12, 2021. A selection committee reviewed the proposals and evaluated each firm on the criteria set forth in the RFP. Based on the committee's recommendation of Vasquez & Co., LLP, staff is requesting a contract service agreement for three years with two one-year extensions, for the base amount of $71,001 annually, not to exceed $213,003 over three years with the option to extend the term for two additional one-year periods. If the City exercises the two one-year optional extensions, the additional cost will be $142,002, for a five year total amount of $355,005. The cost includes the following services and deliverables:
* Letter to the City Council regarding compliance with Article XIIIB of the California Constitution.
* Management Letter that includes any non-reportable comments or recommendations resulting from Consultant's review of the systems of internal controls in connection with the financial audits.
* City's Comprehensive Annual Financial Report (Annual Report).
* City's State Controller's Annual Financial Transactions Report.
* City's State Controller's Annual Street Report to State Controller.
* City's Air Quality Improvement Special Revenue Fund...
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