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Background: EXTENSION OF AUDIT CONTRACT WITH MALLOY, MONTAGUE, KARNOWSKI,RADOSEVICH, & CO., P.A. FOR YEAR 2010 By: Diana Lund, Finance Director The city council adopted the city's purchasing policy on November 24, 2009. Section 4.5 Request for Proposals (RFP) states that an RFP will be solicited every three years (unless specifically extended by city council) for such services as auditing. With the resignation of the Assistant Finance Officer, the restructuring of the department and a new person designated to be hired in an entry-level accountant position at the end of November, the finance department would like to ask for an extension to the current auditing contract with the city's current auditing firm of MMKR. The current contract with MMKR was for auditing services for years 2007, 2008 and 2009. If the city was to extend the contract for another year, MMKR has guaranteed that the rate would be the same as that charged for 2009 or $26,400. In comparison, when the city did a RFP for auditing services in 2005, the firm with the second lowest price for 2009 services was $30,200. Funding Source: Auditing services is included in the General Fund Budget under the finance department. Committee Action: Reviewed By: City Administrat FC: 9/14/10 FC #1 Motion to recommend to City Council to extend auditing services for one year to MMKR in the amount of $26,400.