Title
Consider/Discuss/Act on a Resolution Authorizing a Contract for Professional Auditing Services with Weaver and Tidwell, LLP
Summary
COUNCIL GOAL: Financially Sound Government
MEETING DATE: August 5, 2025
DEPARTMENT: Financial Services
CONTACT: Chance Miller, Assistant Finance Director
Trudy Mathis, Finance Director
Mark Holloway, Chief Finance Officer
RECOMMENDED CITY COUNCIL ACTION:
• Authorize the contract
ITEM SUMMARY:
• Request for proposal #25-45RFP was advertised May 2, 2025 for professional auditing services to include the City’s annual financial audit, federal and state single audits, and ACFR preparation.
• Bid opening was conducted June 5, 2025. Nine (9) proposals were submitted.
• Staff recommends Weaver and Tidwell, LLP
o National firm serves more than 300 governmental entities
o Dallas office serves several Texas municipalities including:
§ City of Garland, Allen, Irving, Denton, and Plano - all receiving the GFOA Certificate of Excellence in Financial Reporting
o City of McKinney Auditors from 2005-2015,2020-2025.
BACKGROUND INFORMATION:
• The City Charter requires an independent of the City at least once yearly.
• The last solicitation for professional auditing services was done in 2020.
• The Government Finance Officers Association recommends the use of request for proposal to obtain professional auditing services .
FINANCIAL SUMMARY:
• Annual fees for audit and ACFR preparation services will be $106,825 which is a 3.1% decrease from the prior fiscal year audit fees.
• It is a 3-year contract with one two-year renewal
o Contract allows for a 3% fee increase in the second and third years
BOARD OR COMMISSION RECOMMENDATION: N/A