AgdaPkt 2005-06-20 - Laserfiche WebLink

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6. /ð'-I REPORT To the Honorable Mayor and City Council From the City Manager June 20, 2005 Subject Amendment No.1 to Agreement for Auditing Services (Caporicci & Larson), Extending the Agreement for Two Years Recommendation The City Council Audit Committee reoommends that the Council authorize the Mayor to execute the attached amendment to renew the agreement with Caporicci & Larson to provide auditing services for the fiscal years ending June 30, 2006, and 2007 for the same fee as charged for FY 2004/05, or $50,300. 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 fiscal year FY 2002/03 aùdit based upon a recommendation from the Council's Audit Committee. In the original agreement between the City and Caporicci & Larson, the Term provides for an option to renew for fiscal years 2006, 2007 and 2008. Caporicci & Larson have agreed to extend the current fees for the next two fiscal years (FY 2005/06 and FY 2006/07). Given the above information, and as the City Council Audit Committee has found the performance of Caporicci & Larson to be satisfactory, the City Council Audit Committee recommends that the Council extend the existing agreement with Caporicci & Larson for FY 2005/06 and FY 2006/07 at a fee of $50,300 for each year. Should the Council not be satisfied with the services provided by Caporicci & Larson, the Council may terminate this agreement before the fiscal year FY 2006/07 audit. Alternative The City Council may reject the recommendation and direct staff to issue a Request for Proposal for audit services. Fiscal Impact Approval of the renewal of the agreement with Caporicci & Larson will have no fiscal impact as the proposal received for $50,300 equals the amount currently being paid for auditing services. :}fl~ ~eff Ira Council Jim Hart