Title
First Amendment to the Contract for Professional Auditing Services for the City of Gainesville Financial Statement Audit Contract - Gainesville Regional Utilities (B)
Explanation
The current contract with Baker, Tilly, Virchow, Krause, LLP concludes with the audit of the September 30, 2019 financial statements. In accordance with the original Contract, the City and Baker, Tilly, Virchow, Krause, LLP have extended the contract for two additional years to include conducting audits of the basic financial statements of GRU for the fiscal years ended September 30, 2020 and 2021. This First Amendment also includes minor language changes for Paragraph 3.1 regarding compensation for annual audits based on the Consumer Price Index (CPI) for the South Region.
Fiscal Note
The fee for audit services was $121,056 for the fiscal year 2019 audit. Fees for the next two years would be adjusted based on the Consumer Price Index (CPI) percentage change for the Southern Region as set forth in the current agreement. Fees for these services are provided in the GRU budget.
Recommendation
The Audit and Finance Committee hear an update.