PRESENTER: Presenter
Sandy Paulos, Director of Finance
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SUBJECT: Title
Approval of a contract with Crowe LLP for Financial Audit Services
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DEPARTMENT: Finance
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COUNCIL DISTRICTS IMPACTED: All
BACKGROUND INFORMATION:
The City’s outside financial audits have been performed by Belt Harris Pechacek since 2017. Belt Harris Pechacek auditing services and associated staff was recently acquired by Crowe LLP. The firm and its staff are highly experienced in City audits and will provide in-depth support to the City. The auditing staff has over 30 years of Texas municipal audit experience and a high level of GFOA and TML participation. Associated staff acquired have proven to be a reliable firm with audits being performed in accordance with Section 3.13 of the City’s Charter. This section requires an annual audit of the City’s books and accounts.
Financial Audit Services are exempt from competitive procurement, thus staff recommends maintaining continuity of staff and services performing the audit.
The fees associated with this contract are:
Audit of Financial Statements $62,418
Single Audit - Base Fee $4,500
Single Audit - Per Major Program $5,695
Total Contract Value: $72,613
Factors such as additional audit requests may affect the total cost.
ISSUE:
City Charter requires that an audit be performed on an annual basis.
STRATEGIC PLAN REFERENCE:
☐Economic Mobility ☐Enhanced Connectivity ☐Community Identity
☒Organizational Excellence ☐Community Well-Being ☐N/A
FISCAL IMPACT:
The fees associated with the contract are included in the FY 2025 Budget, therefore sufficient funds are available.
Recommendation
RECOMMENDATION:
Staff recommends approval of the contract with Crowe LLP for Financial Audit Services.