REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Lori Ann Farrell Harrison, Interim City Manager
PREPARED BY: Gilbert Garcia, Chief Financial Officer
Subject:
title
Approve and authorize execution of a three year Professional Service Contract with Davis Farr LLP in the amount of $151,120 to perform Financial Audit Services
body
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 $151,120 to perform financial audit services.
Financial Impact:
Sufficient appropriation will be budgeted in the Finance Department ($43,800 in business unit 10035205) and West Orange County Water Board Fund ($5,200 in business unit 50885101) for year one (fiscal year 2019/20) of the contract. Fiscal years 2020/21 ($50,360) and 2021/22 ($51,760) will be budgeted accordingly to cover the cost of year two and three of the audit services contract. The total three-year contract equals $151,120.
Recommended Action:
recommendation
Approve and authorize the Mayor and City Clerk to execute the "Professional Service Contract Between the City of Huntington Beach and Davis Farr LLP for Financial Audit Services."
end
Alternative Action(s):
Do not approve the recommended action and direct staff accordingly.
Analysis:
The City of Huntington Beach is required by Charter 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 detail recommendations to improve the City's control and financial management. The audit is to be performed with...
Click here for full text