Title
Consider a resolution authorizing the Mayor to execute an Engagement Letter with Brockway, Gersbach, Franklin & Niemeier, P.C. for the 2015 financial and compliance audit.
Body
Each year the City engages an independent auditing firm to perform the required annual audit of the City's financial records. The objective of the audit includes: expressing an opinion as to whether the City's financial statements are fairly presented in accordance with generally accepted accounting principles; evaluating and reporting on the City's internal controls related to the financial statements and providing an opinion on the City's compliance with laws and regulations associated with the single audit act which is related to federal grants the City receives. In addition to audit work, the firm also assists the City with the preparation of the City's Comprehensive Annual Financial Report (CAFR).
The City's current auditors were selected through a competitive proposal process in 2012. This is the fourth of five possible one year renewals under that procurement process. This firm has been conducting the independent financial audit for the City since 2005.
Recommended Action
Staff recommends approval.