Laserfiche WebLink
I D-1 <br />,To ihe <br />March 24, 2003 <br />�s <br />Subject <br />Acceptance of Proposal for Audit Services by Caporicci & Larson <br />Recommendation <br />The City Council Audit Committee recommends that the Council authorize the City <br />Manager to execute an agreement with Caporicci & Larson to provide auditing services for <br />the fiscal years ending June 30, 2003, 2004 and 2005 with an option to renew for three <br />additional years. <br />Background <br />In December 2002, the City established a City Council Audit Committee to advise the City <br />Council on matters including selection and retention of the City's independent financial <br />auditor. For the past ten years, the City has utilized Maze & Associates for auditing <br />services. Due to the expiration of the existing contract with Maze & Associates, the <br />Finance Department, at the direction of the City Council Audit Committee, mailed Requests <br />for Proposal for auditing services to 31 public accounting firms in January 2003. Seven <br />firms sent representatives to the mandatory pre - proposal conference held February 7. The <br />City received proposals from seven firms, one of which was not represented at the <br />mandatory pre - proposal conference, and as such, was eliminated due to <br />unresponsiveness. <br />At the request of the Audit Committee, the Finance Department reviewed and analyzed the <br />proposals and provided the Audit Committee with an analysis of the proposals. The <br />Finance Department analysis consisted of staff review and evaluation of the firms based <br />on the criteria listed below: <br />Prior audit experience <br />a) Extent of firm's experience in auditing municipalities in California? <br />b) Absence of adverse items on Peer Review (review of a selected audit by <br />another public accounting firm)? <br />c) Does the firm have Single Audit experience? <br />Qualifications of staff to be assigned to the audit <br />a) Staff's municipal auditing experience? <br />b) Does the proposal comment on the continuity of staff to be assigned? <br />c) Does the proposal include resumes of the staff to be assigned? <br />d) Is the firm committed to equal opportunity hiring? <br />