Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A CONTRACT WITH CIUNI & PANICHI, INC. FOR FINANCIAL AUDIT SERVICES FOR THE CITY OF HUDSON FOR THE 2013-2017 AUDITS; AND DECLARING AN EMERGENCY.
Executive Summary: This legislation authorizes the City Manager to enter into a contract for the city's annual audit for the years 2013-2017.
Body
Legislative History
The City approved Resolution 13-45 authorizing a contract with the Auditor of State for the 2012 financial audit. The State also performed the 2011 audit. Ciuni & Panichi performed the audits for 2003-2010.
Purpose & Explanation
The Auditor of State has the authority to either conduct the City's annual financial audit or award the audit through an RFP process to an independent public accounting (IPA) firm. The State determined the City's audit would be conducted by an IPA for 2013-2017.
The State has awarded the contract to Ciuni & Panichi, Inc for the five year contract period for a total of $143,680, an average of $28,736 per year. By comparison, the cost of the 2012 audit performed by the State was $30,340.
Ciuni & Panichi performed our audit for several years before the State took back the audit for the past two years. Ciuni & Panichi is very familiar with City operations and has assisted in the preparation of our year-end financial statements for several years. We were satisfied with their prior audit performance and they consistently released the reports in a timely manner.
Timing Considerations
We request authorization as soon as possible to allow the auditors to start their fieldwork for the 2013 audit no later than March 1, 2014.
Fiscal Impact
X Currently Budgeted
Supplemental Appropriation Required
Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends authorization for the City Manager to enter into the agreement with Ciuni & Panichi, Inc.
Submitted by,
Jeff Knoblauch, Finance Director