Title
Approving a resolution with the caption reading, RESOLUTION OF THE CITY OF PFLUGERVILLE, TEXAS SELECTING DAVIS, KINARD & CO, PC TO PERFORM THE INDEPENDENT AUDIT OF THE CITY OF PFLUGERVILLE FOR FISCAL YEAR 2017.
Summary
The city has used the accounting firm of Weaver for the past two fiscal years to complete the fiscal year 2015 and 2016 audits of the City's financial statements. At the direction of the City Manager, staff initiated the process to select a new accounting firm to audit fiscal year 2017.
Finance staff prepared a Request for Audit Proposals to audit the City and PCDC financial statements for the fiscal year ending September 30, 2017, with the option of continuation of the engagement for each of the following four years. The Request for Audit Proposals was posted on both the City's Open Bids/RFQs 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 one week in June. Eight proposals were received from accounting firms.
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. Attached is a summary of the responses of the top two ranked firms, including the proposed audit team. The highest ranked firm was Davis, Kinard & Co, PC.
After the firms were ranked, the sealed cost proposals for the two highest ranked firms were opened and Davis, Kinard provided the lowest cost at $44,000 for the City and $16,000 for PCDC. These costs are very similar to the prior year costs of $43,250 for the City and $14,400 for PCDC auditing services.
On July 13, 2017, staff presented to the Finance and Budget Committee the information outlined above regarding the audit proposal request and review process. Staff r...
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