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CC - Approval of a Professional Services Agreement with The Pun Group, LLP for Professional Audit Services for a Term up to Five Years (Ending on December 31, 2020) in an Amount Not-to-Exceed $67,000 for the Audit of Fiscal Year 2015/2016, with an Aggregate Amount Not-to-Exceed $355,712 Over the Five-Year Term.
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Meeting Date: July, 11, 2016
Contact Person/Dept: Jeff Muir/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Public Hearing: [] Action Item: [] Attachments: Yes [] No [X]
Commission Action Required: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (07/05/16)
Department Approval: Jeff Muir, Chief Financial Officer (06/30/16)
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RECOMMENDATION
The Audit, Financial Planning, and Budget Subcommittee, consisting of Council Members Cooper and Small, recommends the City Council approve a professional services agreement with The Pun Group, LLP for professional audit services for a term of five years (ending on June 30, 2020) in an amount not-to-exceed $67,000 for the audit of Fiscal Year 2015/2016, with an aggregate amount not-to-exceed $355,712 over the five-year term.
BACKGROUND
On February 11, 2016, a Request for Proposals (RFP) for professional audit services was released. The current audit services contract with Moss, Levy & Hartzheim, LLP expired at the end of December 2015.
The RFP was published in The Culver City News and posted on the website of the City as well as the California Society of Municipal Finance Officers. Proposals were due by March 10, 2016. The general provisions of the RFP were to provide independent audit and report preparation for the City, Other Postemployment Benefit Plan, Municipal Bus Lines, Single Audit as required by the federal government, review of the Gann Appropriations Limit, and preparatio...
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