Title
Approving a resolution with the caption reading, RESOLUTION OF THE CITY OF PFLUGERVILLE, TEXAS SELECTING WEAVER TO PERFORM THE INDEPENDENT AUDIT OF THE CITY OF PFLUGERVILLE FOR FISCAL YEAR 2015.
Summary
The City Charter requires an annual independent audit by a certified public accountant (CPA). The Charter further directs that the same CPA shall not perform the city's audit for more than five consecutive years. Since the city has used the accounting firm of Davis, Kinard, & Co. LLP for the past five years (2010-2014), the 2015 audit will need to be conducted by a new firm.
Finance staff prepared a Request for Audit Proposals to audit the City and PCDC financial statements for the fiscal year ending September 30, 2015, with the option of continuation of the engagement for each of the following four years. The Request for Audit Proposals was posted on the internet on the Finance website, the City Bids website, and the Texas Bid System website. Notice of the proposal was provided directly to firms that had previously requested such notice and advertisements were placed in the Pflugerville Pflag for two weeks in May. Nine proposals were received from accounting firms, all with offices in the state of Texas.
The proposals contained two separate parts: a technical proposal and a sealed cost proposal. Finance staff reviewed each of the technical proposals and identified the responsiveness of each to the requirements outlined in the Request for Audit Proposals. The evaluation criteria and rankings for each of the top four firms is attached. A minimum of three references were contacted for each of the top four ranked firms and all references had favorable comments. The highest ranked firm was Weaver. Attached is an abbreviated list of some of Weaver's relevant public sector clients including both municipalities and economic development corporations.
After the firms were ranked, the sealed cost proposals were opened and Weaver provided the lowest cost at $42,000 for the City and $14,000 for PCDC. These costs are very similar to the 2014 audit costs of $41,300 for the City and $14,400 for PCDC.
On June 11, 2015, staff presented to the Finance and Budget Committee the information outlined above regarding the audit proposal request and review process. Staff recommended Weaver perform the audit for the City for fiscal year 2015. The Finance and Budget Committee approved the staff recommendation and recommend that the City Council engage the auditing services of Weaver. A resolution approved by the City Attorney authorizing the City Manager to engage the services of Weaver is attached.
Upon approval of the selection of this firm, Finance staff will notify PCDC of the selected firm to allow the PCDC Board to consider approving Weaver as the PCDC auditor for 2015.
Deadline for City Council Action
Action is necessary by July 14, 2015.
Fiscal Impact
The engagement fees, as outlined above, will be included in the fiscal year 2016 budget for the City.
Staff Recommendation
Approve the resolution.
Drafter
Lauri Gillam
Assistant City Manager