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Department Approval x .n.e4 Rls�kspvlffi� REQUEST FOR COUNCIL ACTION Date: 12/15/05 Item No.: 7.d City Manager Approval Item Description: Approve a 3 -Year Audit Services Agreement BACKGROUND On November 17, 2005 the City Council authorized Staff to negotiate a new 3 -year audit services agreement with the City's existing audit firm, Malloy, Montague, Karnowski, and Radosevich (MMKR). In seeking authorization, Staff noted that based on prior bidding experience and familiarity with the City of Roseville's programs and services, MMKR would likely be the lowest bidder among qualified service providers if the City were to seek formal requests for proposals. At the November 17, 2005 City Council meeting, Staff estimated that a new agreement would be approximately $30,000 - $30,500 for 2009, with inflationary -type increases thereafter. After subsequent negotiations, MMKR has agreed to provide audit services for 2009 in the amount of $34,250, with an increase of 2.5% for 2010 and 2.55% for 2011. In submitting a lower - than - expected bid, MMKR cited their familiarity with Roseville's financial operations, and progress made on new accounting standards that will be implemented by the City next year. POLICY OBJECTIVE Extending the audit services agreement with MMKR for a second 3 -year term is consistent with the City's Professional Services Policy. FINANCIAL IMPACTS The 3 -year audit services agreement with MMKR calls for a fee of $34,250 in 2009, $35,125 for 2010, and $30,125 for 2011. The 2009 Preliminary Budget can accommodate the proposed fee. STAFF RECOMMENDATION Staff recommends the Council authorize City Staff to approve a new 3 -year agreement with the CPA firm of MMKR as submitted and detailed above. REQUESTED COUNCIL ACTION Motion to authorize City Staff to approve a 3 -year agreement for audit services with MMKR. Prepared by: Chris Miller, Finance Director Attachments: A: Proposed Audit Services Agreement Page 1 of 1