CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Approve the award of RFP 22-233, External Auditing Services, to Sikich LLP for an amount not to exceed $402,230, and for a four-year term
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DEPARTMENT: Finance Department
SUBMITTED BY: Rachel Mayer, Finance Director
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
The City uses an external auditing firm to perform an official review of the City's basic financial statements annually. The firm gives an opinion on whether statements accurately present the financial position and results of operations for each fund. The audit examination is made in accordance with generally accepted governmental auditing standards and statements of the Government Accounting Standards Board.
In addition, the auditor performs a single audit in accordance with the Office of Management and Budget, Statement A-133, whereby the federal government, as a major grantor to local governments, is to obtain assurance regarding the entity's internal control structure and compliance with specified laws and regulations. Services also include the required TIF compliance report and the Police Pension Fund report.
In September 2022, the Finance Department issued RFP 22-233, External Auditing Services, seeking qualified vendors capable of performing the City annual financial audit.
DISCUSSION:
Advertisement Date:
9/7/2022
Notices Sent:
2
Opening Date:
9/28/2022
Planholders:
8
Proposals Received:
2
Proposals were received from the following vendors:
Lauterbach & Amen LLP
Sikich LLP
A selection team comprised of staff from the Finance Department evaluated the proposals, which were scored based on the criteria outlined in the RFP:
1. Capability, Capacity and Qualifications of the Firm (35%)
2. Suitability and Quality of the Approach/Methodology (35%)
3. Milestones and Deliverables (25%)
4. Outcomes to be Achieved (5%)
The vendor with the highest qualification score, Sikich LLP, is recommended for award. The t...
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