Title
Proposed Three Year Extension of Agreement for Professional
Auditing Services for the Annual Financial Statements
Audit - General Government Segment (B)
Explanation
Florida Statutes section 218.39 and Gainesville Code of Ordinances section 2-433 require the City Commission to employ an independent certified public accountant, not connected with the government of the City, to audit the accounts maintained and the financial statements prepared by the City for each fiscal year. The current contract with Carr, Riggs and Ingram, LLC for the General Government segment for professional auditing services concludes with the audit of the September 30, 2013 financial statements. Carr, Riggs and Ingram, LLC has indicated that they are agreeable to extend the contract for an additional three years under the existing terms of the contract.
The City Auditor's Office has discussed the proposed contract extension with representatives from General Government and there is consensus that the proposed three year extension would be in the City's best interest given the high level of service and competitive rates provided by the current vendor.
fiscal note
The base fee for audit services was approximately $95,000 for the fiscal year 2013 audit. Fees for the next three years would be adjusted based on the Consumer Price Index (CPI) percentage change for the Southern Region, all urban consumers, with a limit of 5% per year, as set forth in the current agreement. Fees for these services will be provided in the proposed General Government budget for each fiscal year.
Recommendation
The Audit, Finance and Legislative Committee recommends the City Commission:
1) Approve the proposed three year extension of the agreement for professional auditing services - General Government segment with
Carr, Riggs and Ingram, LLC; and
2) Authorize the City Auditor to execute the extension subject to the review of the City Attorney as to form and legality.