To: Honorable Mayor and Members of City Council
From: Elizabeth Cabell, Finance Manager
Prepared By: Elizabeth Cabell, Finance Manager
TITLE:
Title
Amendment No. 1 to the Agreement with Vavrinek, Trine, Day & Company, LLP for Financial Audit Services
LABEL
RECOMMENDED ACTION:
Recommendationle
Authorize the City Manager to execute amendment No. 1 to C2014 067 with Vavrinek, Trine, Day & Company, LLP to provide financial audit services for the fiscal years ending June 30, 2017, and 2018.
Body
DISCUSSION:
The City executed an agreement with Vavrinek, Trine, Day and Company, LLP (VTD) in March 2014 to provide annual audit services for the fiscal years ending June 30, 2014, 2015 and 2016. The proposal submitted by VTD in 2014 included pricing to extend the agreement for an additional two years.
VTD provides governmental auditing services to over 300 governmental agencies throughout California, including cities, counties, water agencies, special districts, redevelopment successor agencies, and public financing authorities. Included among this firms existing clients are the cities of Fairfield, Santa Clara, Pleasanton, Suisun City, Foster City, Rancho Mirage, and the Town of Hillsborough.
The City has received excellent service from VTD over the last three years. They have consistently demonstrated a high level of professionalism and responsiveness to the City’s needs. Their services include:
• Audit of the City of Napa Comprehensive Annual Financial Report (CAFR)
• Preparation and review of the City’s GANN Limit computation
• Preparation and filing of State Controllers Reports - City Transactions and Streets
• Audit and preparation of the City’s Single Audit Report
• Audit and preparation of the City’s Transportation Development Act report
• Preparation and electronic filing of the City’s REAC report
Choosing to extend their services for two years will provide continued support and continuity.
FINANCIAL IMPACTS:
The not-to-exceed cost of the audit contract over the additional two-year period is $195,124 ($96,120 for FY 2016-17 and $99,004 for FY 2017-18) which represents an annual 3% increase over the previous 3-year contract pricing.
The total audit costs for each year will be budgeted as follows:
Audit services are appropriated within the City’s bi-annual budget process.
CEQA:
The Finance Manager has determined that the Recommended Action described in this Agenda Report is not subject to CEQA, pursuant to CEQA Guidelines Section 15060(c).
DOCUMENTS ATTACHED:
Attachment 1: Amendment No. 1 to agreement C2014 067 with Vavrinek, Trine, Day & Company, LLP for financial audit services.
NOTIFICATION:
None.