To: Honorable Mayor and Members of City Council
From: Brian Cochran, Finance Director
Prepared By: Elizabeth Cabell, Finance Manager
TITLE:
Title
Consulting Financial Audit Services
LABEL
RECOMMENDED ACTION:
Recommendation
Approve an agreement with The Pun Group, LLP for financial audit services for five fiscal years, from fiscal year 2018-2019 through fiscal year 2022-2023, in an amount not to exceed $426,731, and authorize the Finance Director to sign the agreement on behalf of the City.
Body
DISCUSSION:
In January,2014 the City issued a Request for Proposals (RFP) for audit services, and a three-year contract for the fiscal years ending June 30, 2014, June 30, 2015 and June 30, 2016 was executed in March 2014 with Vavrinek, Trine, Day & Co., LLP. In March 2017 the City extended the contract with Vavrinek, Trine, Day & Co., LLP to provide audit services for the fiscal years ending June 30, 2017 and June 20, 2018. The Best Practice of Audit Procurement, as stated by the Government Finance Officers' Association (GFOA), recommends a full-scale competitive RFP process every five years, so it was prudent for the City to issue a financial audit services RFP in fiscal year 2019.
A Request for Proposal for audit services was issued on December 12, 2018 through the Public Purchase platform. Seven proposals were received. The Proposals were evaluated based upon qualifications and experience of the audit team to be assigned to this project, experience of the firm in providing audit services to other similar California municipalities, the proposed audit approach and cost. The evaluation of proposals was completed by the Finance Director, Finance Manager and Senior Accountant. Of the seven proposals received, the top four firms were interviewed. Interviews were held during the week of February 4, 2019. Based upon the proposals received, the information provided during the interview process, and the reference checks, The Pun Group, LLP was selected as the fi...
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