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AGENDA ITEM REVIEW FORM |
7.A.
Special City Council Meeting
- Meeting Date:
- 05/03/2023
- Department Head:
- Monica Castro
- Submitted By:
- Roula Encinas, Accountant, Finance Department
Action Requested:
Motion
ITEM:
Discussion and possible action on any and all matters regarding the renewal of the contract with Heinfeld, Meech & Co., P.C. for Professional Auditing Services. (Monica Castro, Finance Director)
SUMMARY:
Cities are required to hire independent auditors under Arizona law. The contract with the audit firm Heinfeld Meech ended with the conclusion of the city audit for Fiscal Year 2022. Heinfeld Meech is a certified public accounting firm established in 1986; its specialty is government, auditing, and consulting services. Heinfeld Meech has become critical in the success of the City's financial reporting for the past five years, particularly as we work to improve our financial reporting systems. They are knowledgeable of the City's financial operations and projects, so their support is invaluable. In order to save time, money, and resources by leveraging the successful competitive bidding process conducted by another government entity, we are asking to award the contract for professional audit services to Heinfeld Meech under a cooperative agreement from the Arizona State Procurement Office Contract # CTR042584-1 which is allowed under City Code Purchasing code 3.05.090 Cooperative Purchasing.
RECOMMENDATION / SUGGESTED MOTION:
I MOVE TO APPROVE THE CONTRACT OF THE INDEPENDENT AUDITOR HEINFELD, MEECH & CO., P.C. AS PRESENTED.
Fiscal Impact
- IS THERE FISCAL IMPACT ASSOCIATED WITH THIS ITEM:
- Yes
- CITY/STATE/FEDERAL FUNDS:
- Yes
- TOTAL:
- See fiscal impact statement
- BUDGETED AMOUNT:
- See fiscal impact statement
- AVAILABLE AMOUNT TO TRANSFER:
- See fiscal impact statement
- ACCT NAME & GL#/REMAINING BALANCE BEFORE PURCHASE:
- See fiscal impact statement
FISCAL IMPACT STATEMENT (IF THIS IS A BUDGET TRANSFER, YOU MUST ATTACH THE BUDGET ADJUSTMENT FORM):
The proposed fee schedule shows the audit fees per year through FY 2026-27 payable in FY 2028. This contract will be effective to perform the audit for the Fiscal year ending 06/30/2023, these fees are payable in FY 2024. Accordingly, we are budgeting for $79,500 in audit fees for next year. We will also budget accordingly in the subsequent year for the fees shown in the schedule.