HomeMy WebLinkAboutcc 1-15-13 Approval to new audit firmMAYOR AND COUNCIL COMMUNICATION
DATE: 1/15/2013
CONSENT
ITEM #: 15
MOTION Regular Agenda
AGENDA ITEM: Approval of New Audit Firm
SUBMITTED BY: Cathy Bendel, Finance Director
REVIEWED BY: Dean Zuleger, City Administrator
SUMMARY AND ACTION REQUESTED: The City Council is respectfully asked to approve the acceptance
of the attached proposal for Professional Audit Services from Smith Schafer & Associates and enter into a three
year contract for services covering 2012, 2013 and 2014.
BACKGROUND INFORMATION: As directed by the City Council on November 20, 2012, an RFP was
issued to obtain competitive quotes for the year-end audit services. Eight firms expressed interest and of those,
two proposals were reviewed in depth by the City Administrator and the Finance Director; Abdo Eick &
Meyers, LLP and Smith Schafer & Associates LTD. As anticipated, both firms proposed an annual average rate
significantly lower than the actual 2011 costs; a 12% proposed reduction by Abdo Eick & Meyers, LLP and a
26% proposed reduction by Smith Schafer & Associates.
RECOMMENDATION: Although both firms are extremely professional and competent, it is recommended
that the City Council approve moving the annual contract for audit services to Smith Schafer & Associates for
the audit periods of 2012-2014. This will allow for a cost savings of $21,000 over the three year contract period
as well as providing for a fresh review by a new firm.
“Move to approve the three year annual audit contract to Smith Schafer and Associates beginning with
year-end 2012”
.
ATTACHMENTS:
1. Proposal for Audit Services – Abdo, Eick & Meyers LLP
2. Proposal for Audit Services – Smith Schafer & Associates, LTD