CC MEETING: April 16, 2024
DATE: April 10, 2024
TO: Erin Rinehart, City Manager
FROM: Melissa Everett, Finance Director
Chrystal Davis, Assistant City Manager
Title
Consider A Resolution Authorizing The City Manager To Enter Into A Contract With FORVIS, LLP For Independent Auditing Services In An Amount Not to Exceed $130,000.
Body
BACKGROUND:
On May 4, 2021, a proposed fee commitment schedule was signed with BKD LLP for the Financial Statement Audit in Accordance with Government Auditing Standards and Compliance Audit in Accordance with Uniform Guidance. In 2022, BKD, LLP merged with Dixon Hughes Goodman (DHG) and became the new firm FORVIS, LLP. The original contract included a three-year commitment with two additional year-long extension options.
The proposed fee amount for fiscal year 2024 is $122,000 and is based on testing one major federal program. If required, fees for additional major programs are $8,000 each.
FINANCIAL IMPLICATIONS:
The services covered by this contract will be paid for by funding in the Administrative Services Internal Service Fund. The audit fees for fiscal year 2024 audit are $122,000 in base fees, and an additional $8,000 contingency for additional federal program testing.
STAFF RECOMMENDATION/ACTION DESIRED:
Consider approving the attached resolution appointing FORVIS LLP as the City’s Independent Auditors and authorizing the City Manager to enter into a contract with FORVIS LLP for independent auditing services in an amount not to exceed $130,000.