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Home My WebLink About2007 08 27 Consent 201 Execute A 3-Year Contract For Audit Services By McDirmit Davis & Company COMMISSION AGENDA ITEM 201 Consent Information Public Hearin Re ular MGR. (J-- /Dept. ~ x August 27.2007 Meeting REQUEST: The Auditor Selection Committee Is Requesting That The City Commission Authorize The City Manager To Execute A Three-Year Contract For Audit Services With The Firm Of McDirmit Davis & Company, LLC With A Possibility For Three One-Year Renewals. PURPOSE: To authorize the City Manager to execute a contract for audit services. CONSIDERATIONS: . On June 25, 2007 the City Commission authorized the formation of a three- person Audit Selection Committee, which consisted of Commissioner Rick Brown; Michelle Greco, Finance Director; and Kevin Smith, General Services Director (City Manager Designee). . On June 26, 2007 the Request for Proposal was mailed to various firms as well as posted on the City's web site and Demand Star/Onvia, a web site for proposals for governments throughout the United States. A legal advertisement was placed in the Orlando Sentinel notifying potential bidders of the City's outstanding Request for Proposal. . On July 30, 2007, the City received three proposals from the following firms: Carter, Belcourt & Atkinson, P.A.; James Moore & Company, P.L.; and McDirmit Davis & Company, LLC. . On August 6, 2007 the three firms presented their firms qualifications to the Auditor Selection Committee. · On August 13, 2007, the Auditor Selection Committee met to tally their individual rankings of the respective firms. The attached worksheet shows the committees' rankings of the three firms. . The Auditor Selection Committee recommended that the City Manager pursue negotiations with first-ranked McDirmit Davis & Company, LLC. . The City Manager's Designee subsequently negotiated an acceptable fee proposal from the highest ranked firm of McDirmit Davis & Company, LLC. Consent Agenda Item Number 201 August 27,2007 Page 2 of2 . The fees proposed by McDirmit Davis & Company, LLC are as follows: Fiscal Year Ended 9/30/2007 9/30/2008 9/30/2009 Audit Fee $26,600 $27,400 $28,200 Single Audit Fee (if required) $4,400 $4,700 $5,000 Possible Total Audit Fee $31,000 $32,100 $33,200 . The fees for Fiscal Year Ended 9/30/2006 were $25,800 for Audit fee and $4,000 for Single Audit fee. The proposed fees for Fiscal Year Ended 9/30/07 would be an $800 increase (3.1%) for Audit fees and a $400 increase (10.0%) for Single Audit fees, if a Single Audit is required. FUNDING: The budget for fiscal year 2008 includes $37,500 for audit services which would cover the fees proposed by McDirmit Davis & Company, LLC for the fiscal year ending September 30, 2007. RECOMMENDATIONS: The City Manager and Audit Selection Committee recommend that the City Commission authorize the City Manager to execute a three-year contract with the firm of McDirmit Davis & Company, LLC with a possibility for three one-year renewals. The fees would be as stated in the agenda item above. ATTACHMENTS: Audit Committee Scoring Sheet Fee quote from McDirmit Davis & Company, LLC. COMMISSION ACTION: Gi III .c -I/) g'C) .- :E fIl "0 - en ,... .5 ~ ~ "coS C.ooo I/).."'=N "UlloM S.S!LL.... .5c>>a:::oa ~~ '0.9 ~:c ._ :l (')<l: 0 LO Ol C") 0 LO LO 0 co LO 0 Cl(l C") LO C\I ...... ...... ...... v C\I C\I ~~ C\I ~ c:"' 16 ~o"'" CI)~ ....- .S Q):1S 't:'<( (3 0 LO Ol C") I'- LO LO 0 co C\I Cl(l ...... ...... ...... I'- ~~ ~ co, Q)o(/) lXlCl)lo::: ....- .S Q):1S 't:'<( (3 0 0 0 LO C") LO LO 0 0 co Cl(l ...... C\I ...... ...... ...... I'- ~~ .S:2 c::"' Q)o(!) lXlCl)~ ....- .S Q):1S ~'<( l) 0 0 0 LO 0 LO LO 0 0 LO Cl(l ...... C\I ...... ...... ...... 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CIl C o 'iij 8 .!!! l!!.s::. Ec>~ E CIl E 0=(fJ ()CIlC II '5's; .- CIl ~:E~ ... II II EC>(fJ ():E~ o o .- CIl :c '(jj <Jl o a.. Iii (5 I- MCDIRMIT III DAVIS CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS PROPOSAL TO PROVIDE AUDITING SERVICES TO THE CITY OF WINTER SPRINGS, FLORIDA PROPOSAL FEE SCHEDULE Fiscal Year End September 30: Audit Fee Additional Fees for Single Audit 2007 2008 2009 $26,600 27,400 28,200 $4,400 4,700 5,000 Hourly Rates For Additional Services: Audit stockholder Audit manager Audit senior Audit staff $ 195 150 125 75 :VICDm.:'v1ff I)'\V!~. <'\: ("1\11'.\.\\, LU' hli5L ROlllV,(),\S'iHil.i.Si Iii ,,1.' ",i," \'".,.I'.Ii'.'II\ '>.11' rLL!.PI10NL .~07..843-5406. j:,\.\ .H17 h,~l).ll.~_;l). L\j \!l. I'':' ,': ,!. ]~!i.~\;! j 11 \\ j:"., . i\' \\:-',i;I!X'.P.":J\, \ t. ;...;i''....!\...I~1!"t'ji;i'i;t-,i,l.<-\.\;il\;\_..',I':..dillIJ ~)l (!l{!l!llDI'I'llIli -",((d i_.'.I'..~1 ,!tq",', !'..