Title
Consider/Discuss/Act on a Resolution Authorizing a Contract for Professional Auditing Services with BKD, LLP
Summary
COUNCIL GOAL: Financially Sound Government
MEETING DATE: July 21, 2015
DEPARTMENT: Financial Services
CONTACT: Rodney Rhoades, Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
* Authorize the contract
ITEM SUMMARY:
* Request for proposal #15-55 was advertised May 10, 2015 for professional auditing services to include the City's annual financial audit, federal and state single audits of grant awards, and CAFR preparation.
* Bid opening was conducted May 28, 2015 and six proposals were submitted.
* BKD, LLP and Weaver, LLP were selected for interviews based on staff scoring of the proposals.
* A second phase of scoring was conducted based on the interviews, presentations, client references, client portal, and CAFR preparation samples.
* Staff recommends BKD, LLP of Dallas, Texas.
BACKGROUND INFORMATION:
* The City Charter requires an independent audit to be made of the books of account, records, and transactions of all administrative departments of the City at least once yearly.
* The Government Finance Officers Association recommends the use of request for proposal to obtain professional auditing services.
* The last solicitation for professional auditing services was done in 2005, which Weaver, LLP was selected.
* The contract with Weaver, LLP was being renewed on an annual basis as allowed by the City purchasing policy.
* For transparency, market value and to follow GFOA best practices, staff chose to solicit for proposals.
* BKD, LLP Background
o National firm serves more than 400 governmental entities
o Dallas office serves several Texas municipalities including:
* El Paso, Lubbock, North Richland Hills, Greenville, Bedford, and Roanoke - all receiving the GFOA Certificate of Excellence in Financial Reporting
o Extensive knowledge and experience with airports
* Dallas offic...
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