HomeMy WebLinkAbout3C extend audit agreement
SARATOGA CITY COUNCIL
MEETING DATE: October 5, 2005 AGENDA ITEM: __
ORIGINATING DEPT: Administrative Svcs CITY MANAGER:
Dave Anderson
PREPARED BY: _________________ DEPT HEAD:
Michele Braucht Michele Braucht
SUBJECT: Extend current contract for annual audit services with Caporicci & Larson,
LLP for an additional two years of auditing services.
RECOMMENDED ACTION
Per the contract that was signed May 2001, by written agreement, extend the terms of the
contract for an additional two years of service at a price not to exceed $96,490.
REPORT SUMMARY
Without an extension, the current agreement for auditing services with Caporicci & Larson, LLP
will expire in December 2005, or upon completion of the FY 2004-05 year end audit, which ever
comes first.
Staff is currently working in conjunction with the auditing team from Caporicci & Larson, LLP
to complete a variety of projects that are in progress, that will enhance our internal controls, and
improve accountability. These projects include areas such as; a refinement of the methodology
used by the Community Development Department and the Public Works Department to track
and record deposit accounts; the reconciliation and re-structuring of the accounting process for
the Land and Light Districts, for the Public Works Department, to account for each District as an
individual Fund and eliminate the co-mingling of cash between Districts.
Staff recommends that the contract with the current auditing firm of Caporicci & Larson, LLP be
extended for an additional two years to allow for the completion of the current work in progress.
FISCAL IMPACTS
The annual audit is included in the General Fund, Financial Management Program contract
services budget.
CONSEQUENCES OF NOT FOLLOWING RECOMMENDED ACTION
Limited staff resources will be redirected from current projects to fulfill the requirements of an
RFP and selection process for auditing services.
ALTERNATIVE ACTION
N/A
FOLLOW UP ACTION
N/A
ADVERTISING, NOTICING AND PUBLIC CONTACT
N/A
ATTACHMENTS
A – Proposal from Caporicci, Cropper & Larson, LLP to perform two additional years of
auditing services.