File #: 2015-1171   
Type: Regular Agenda Item
Body: City Council
On agenda: 1/20/2015
Title: Recommendation to Authorize the City Manager to Execute a Professional Services Agreement between the City and Vavrinek, Trine, Day and Co., LLP (VTD) for Two Years with Three - One Year Extensions for a Total Amount Not to Exceed $703,460 for Independent Auditing Services. (Finance 2410)
Attachments: 1. Exhibit 1 - VTD Agreement
Title
Recommendation to Authorize the City Manager to Execute a Professional Services Agreement between the City and Vavrinek, Trine, Day and Co., LLP (VTD) for Two Years with Three - One Year Extensions for a Total Amount Not to Exceed $703,460 for Independent Auditing Services. (Finance 2410)
Body

To: Honorable Mayor and Members of the City Council

From: John A. Russo, City Manager

Re: Recommendation to Authorize the City Manager to Execute a Professional Services Agreement between the City and Vavrinek, Trine, Day and Co., LLP in an amount not to exceed $703,460 for Independent Auditing Services (Finance 2410)

BACKGROUND

Maze & Associates Inc. (Maze), the City's current independent auditors have been the City's Independent Auditors for 24 consecutive years. They have just completed the most recent three-year audit engagement with an additional two-year extension. Although the City and Maze have no disagreements over the audits performed for the City, it is good practice to periodically re-bid these types of contracts to provide fresh perspective on the City's financial statements and practices.

DISCUSSION

In November 2014, staff issued a Request for Proposal for audit services circulated to over 100 regional firms in California with experience auditing municipal governments. Eight proposals were received and evaluated by staff with emphasis in the areas of comparable governmental auditing experience, the quality of the firm's personnel to be assigned to the City's engagement, the adequacy of the proposed staffing plan, the firm's approach to the audit and review of the City's financial statements, and the results obtained from reference checks of their nearby municipal clients.

After a thorough review of the proposals, three firms were invited to oral interviews in December, conducted by City Finance Department staff and the City Auditor, Kevin Kearney. Based upon the results of these interviews as well as proposed pricing, ...

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