AgdaPkt 2007-09-24 - Laserfiche WebLink

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RE'PORT : . ..' . .": '-'_: ..; c' _ '", ,," ,.-'., : : ,",. '. \ ',> ',. ............... 7A Page 1 To the HonorabletJI~~ranclGifY. ColJl'l(;il .Frrirn.tpe'.AudiliGomrnittee September 24, 2007 SUBJECT Amendment NO.2 to Agreement for Auditing Services (Caporicci & Larson) RECOMMENDATION Approve amendment to extend the agreement with Caporicci & Larson to provide auditing services for the next four fiscal years. BACKGROUND The City engages an independent certified public accountant to conduct an audit on the City's financial records each year. The current independent auditor, Caporicci & Larson, was first engaged by the City Council for the FY 2002/03 audit based upon a recommendation from the Council's Audit Committee. Since this is the final year of the contract between the City and Caporicci & Larson for auditing services, Caporicci & Larson has submitted a proposal to extend this agreement for four additional years. The terms of the existing agreement remain unchanged except for their fees which are proposed as follows: Percent increase From prior year 0% 2.08% 2.10% 2.08% FY 2007/08 FY 2008/09 FY 2009/10 FY 2010/11 $48,150 $49,150 $50,180 $51,225 The Audit Committee is very pleased with the quality of services provided by Caporicci & Larson and recommends that the Council approve this contract extension. The City' retains the right to cancel this agreement without cause as of the fiscal year succeeding the year under audit. AL TERNA TIVES The City Council may reject the recommendation and direct staff to issue a request for proposal for auditing services. FISCAL IMPACT The FY 2007/08 budget contains an appropriation that is sufficient to cover the proposed cost of these services for the current year. Appropriations will be required in each of the subsequent years to provide funds for th audit 0 be performed in the respective years. ~~~- J r t, II Member ....,.. .