For City Council Meeting [August 10, 2021]
TO: Honorable Mayor and City Council
APPROVAL: Marcus Fuller, City Manager
FROM: Stephen Erlandson, Deputy City Manager
Title
Request City Council to Approve a Three-Year Professional Services Agreement for Independent Audit Services to Lance, Soll & Lunghard LLP in the Amount of $217,534 with Optional Extension of Two Years.
(ACTION)
Body
BACKGROUND:
Each year the City requires an independent audit of its financial records. Recently, the City used the services of Teaman, Ramirez and Smith, Inc. (TRS) to perform the annual audit of the City's financial statements for the last three Fiscal Years 2017-2018, 2018-2019, and 2019-2020. The contract with TRS has ended, and staff initiated a Request for Proposals (RFP) process in March 2021 to select a new auditing firm commencing with the Fiscal Year 2020-2021 annual audit.
ANALYSIS/DISCUSSION:
The City released RFP No. 21-034 on March 11, 2021. The City published the Notice Inviting Proposals on the City of Rialto's website and the PlanetBids website. The City received five proposals in response to the RFP from the following Firms (in alphabetical order):
1. Badawi & Associates
2. Lance, Soll & Lunghard
3. Moss, Levy & Hartzheim
4. Teaman, Ramirez and Smith, Inc.
5. Van Lant & Fankhanel
Finance Department staff evaluated the proposals and rated the firms based on technical qualifications, experience, customer service focus, price, and references from similar engagements, and concluded that all of the applicants were qualified firms and eligible to be included in the City's panel interview process for the engagement. However, prior to the commencement of the City's interview process, the City's prior auditing firm TRS withdrew its proposal. The remaining four firms were interviewed by the Economic Development Committee (Mayor and Mayor Pro Tem), the City Manager and Deputy City Manager on August 3, 2021.
The panel reviewed the proposals based on the follo...
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