REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Sean Joyce, Interim City Manager
VIA: Dahle Bulosan, Chief Financial Officer
PREPARED BY: Zack Zithisakthanakul, Principal Finance Analyst
Subject:
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Approve and authorize execution of a three-year Professional Service Contract with Davis Farr LLP in the amount of $156,076 to perform financial audit services
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Statement of Issue:
City Council approval is requested to approve and authorize a three-year professional services contract with Davis Farr LLP in the amount of $156,076 to perform financial audit services.
Financial Impact:
Sufficient appropriation is budgeted annually for audit services. The total three-year contract equals $156,076. Year one (Fiscal Year 2021/22) of the contract is allocated as follows: General Fund Finance Department ($46,040 in business unit 10035205) and West Orange County Water Board Fund ($5,500 in business unit 50885101). Fiscal Years 2022/23 ($51,540) and 2023/24 ($52,996) will be budgeted accordingly to cover the cost of year two and three of the audit services contract.
Recommended Action:
recommendation
Approve and authorize the Mayor and City Clerk to execute the "Professional Services Contract Between the City of Huntington Beach and Davis Farr LLP for Financial Audit Services."
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Alternative Action(s):
Do not approve the recommended action and direct staff accordingly.
Analysis:
The City of Huntington Beach is required by Charter Section 616 to arrange for an independent audit of its financial statements each year. This contract is for a financial audit of all funds of the City's reporting entity, a Single Audit Report of the City's federal grant programs, an AB 2766 Audit relating to the City's Air Quality Fund, and an audit of the West Orange County Water Board (WOCWB), a fiduciary fund of the City of Huntington Beach. The City Council will also receive a management letter that will deta...
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