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CONSENT # <br />REPORT FROM FINANCE COMMITTEE <br />By: Diana Lund, Finance Director <br />Background: <br />The Finance Committee met on Tuesday, September 14, 2010, and discussed the following case: <br />CITIZEN INPUT <br />There was none. <br />APPROVE AGENDA <br />Motion to approve the agenda as submitted. <br />Case #1: Extension of Audit Contract with Malloy, Montague, Karnowski, Radosevich (MMKR), <br />For Year 2010 Services <br />Background: <br />The City is required to have its financial activities audited annually by an independent auditor. The <br />current contract with the city's auditing firm was for auditing services for years 2007, 2008 and 2009. <br />In 2009 the city adopted a purchasing policy with a section that pertained to Request for Proposals. Per <br />this section, the City is required to solicit an RFP for services every three years (unless specifically <br />extended by City Council). <br />With the resignation of the Assistant Finance Officer and the finance department restructuring, an <br />extension of the auditing contract with MMKR for an additional year (2010) was requested. <br />MMKR has confirmed that the rate for 2010 auditing services would be the same as that quoted for 2009, <br />or $26,400. <br />The finance committee was all in agreement on a one -year contract extension with MMKR as there was <br />no increase in fees. <br />Motion was to recommend that the City Council extend auditing services with MMKR for 2010auditing <br />services. <br />Action: <br />Ratify the recommendation of the finance committee to extend the auditing services contract with MMKR <br />for 2010. <br />Reviewed By: <br />City Administrator: - <br />