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By: <br /> <br /> AUDITING SERVICES <br />Sandra Ashley Helling, Finance Officer <br /> <br />Case #4 <br /> <br />Background' ~ <br /> <br />It was my !in.~ention to prepare Requests for Proposals for Auditing and <br />Financial AdviSer professional services and publish requests for same in the <br />Star Tribu.~.e ~y the end of October. As you may be aware, this is a time <br />consuming ~roJ~ct. The RFPs are still in draft form, and it is getting too <br />late in t~.e Y~ar to attract experienced auditing firms to bid on a new <br />account ~n~eS~ it is bid at an attractive (to the auditing firm) rate. <br />Further, wi~h~ur continued staffing shortfall, it would be difficult for me <br />to devote ~he ~,ppropriate amount of time to their inquiries. <br /> <br />Observations <br /> <br />Malloy, Kamnow~ki, Radosevich & Co., our current auditing firm, has proposed <br />their serv~ceslwith no increase in hourly rates for the year ended 12/31/92. <br />They are e~%i~ting approximately the same number of hours as last year, but <br />if we can ~chi~ve full staffing in the Finance Office in the near term, Mary <br />and I are ~on~ident the total number of hours for completion of the City's <br />audit willi~'be iless. The cost of the 12/31/92 audit was $14,795 plus $1,500 <br />for the FiDe R$1ief Association. This compared to costs in excess of $20,000 <br />for the las~ m~ny. years. <br />As to a ~in~.ncial Adviser, I should be able to finalize the RFPs and <br />advertise f~r ~ame by the end of January. <br />Staff Rec?mm~ndation: <br /> <br />Recommend/n~ot ~ecommend the City retain Malloy, Karnowski, Radosevich & Co. <br />for Decembe~ 3~, 1992 auditing services. <br /> <br />Budget CO~i~tee Action: <br /> <br />Approve/not! approve the appointment of Malloy, Karnowski, Radosevich & Co., <br />as the Cityi, s ~udltors for the year ended December 31, 1992. <br />Reviewed b.y: i <br /> <br />City Admini.~t r~tor <br />Finance Off,ce9 <br />Senior AccoUntant <br /> <br /> <br />