Laserfiche WebLink
Financial Considerations <br />Based on recent bidding prices, Staff estimates that qualified CPA firms will seek an average <br />hourly billing rate of $85 per hour. During each of the past two years, the City's Auditors <br />incurred 380 and 365 hours respectively in performing the City's audit. Staff estimates that ne�t <br />year's audit will require appro�mately 300 hours. Based on a rate of $85 per hour, the estimated <br />cost in a bidding environment for the City's audit would be approximately $25,000. Given <br />KDV's familiarity with the City and considering that they have proven experience in conducting <br />audits under the new financial reporting model; Staff believes a lower rate can be negotiated with <br />KDV. <br />Council Action Requested <br />Direct Staff to initiate negotiations with the audit firm of Kern, DeW�nter, Viere, Ltd., for the <br />purposes of e�ending professional audit services for a three (3) year period, and to present the <br />terms of the contract to the Council for approval. <br />-or-- <br />Direct Staff to submit a request for proposal for audit services to all qualified audit firms. <br />