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6.1.C. - Page 2 <br /> Manager to execute the assignment agreement after Badawi & Associates formally <br /> acquires the City's account, allowing Badawi to immediately commence its audit of the <br /> Redevelopment Agency. If the City Manager identified any issues with the assignment, <br /> the City Manager could also elect not to sign the agreement and report back to the City <br /> Council or Audit Committee. <br /> The Council Audit Committee discussed this matter at an Audit Committee meeting that <br /> was held on March 28, 2012. The Committee explored the advantages and <br /> disadvantages of the assignment with Finance Department staff and is of the opinion <br /> that this assignment is in the City's best interests, and recommends that the full Council <br /> approve the proposed assignment. <br /> ALTERNATIVES <br /> The City Council may reject the recommendation and maintain the existing contract with <br /> Caporicci & Larson, Inc. (a subsidiary of Marcum, LLP). <br /> FISCAL IMPACT <br /> The assignment of the contract retains the terms of the contract, including Amendment <br /> number 3, approved March 19, 2012, extending the agreement for the next three fiscal <br /> years. The FY 2011/12 budget contains an appropriation that is sufficient to cover the <br /> proposed cost of these services for the current year. Appropriations will be required in <br /> each of the subsequent years to provide funds for the audits to be performed in the <br /> respective years. <br /> � <br /> , <br /> �- C� % �, <br /> JEFFREY GEE <br /> VICE MAYOR <br /> �r.. � ���� ° • (L./ a"�_ <br /> IAN BAIN <br /> COUNCIL MEMBER <br /> ATTACHMENTS <br /> Consent to Assignment Agreement <br /> RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br /> None <br />