HomeMy WebLinkAboutAgenda Report - July 2, 2008 E-08AGENDA ITEM El
• CITY OF LODI
COUNCIL COMMUNICATION
M
AGENDA TITLE: Adopt resolution authorizing the City Manager to execute an agreement with
Macias, Gini & O'Connell LLP to audit the City's financial recordsfor the next five
years beginningfiscal year ending June 30, 2008
MEETING DATE: July 2,2008
PREPARED BY: Internal Services Director/Deputy City Manager
RECOMMENDED ACTION: Adopt resolution authorizing the City Manager to execute an
agreement with Macias, Gini & O'Connell LLP to audit the City's
financial recordsfor the next five years beginning the fiscal year
ending June 30,2008.
BACKGROUND INFORMATION: The contract with Macias Gini & O'Connell LLP (MGO), our current
auditing firm, expired upon the completion of the audit of fiscal year
ending June 30, 2007. The Council authorized staff to receive
proposals in January 2008. On April 23, 2008, the City received proposalsfor the financial audit from the
following three firms: MGO; Moss, Levy & Hartzheim; and Mayer Hoffman McCann.
The proposals were carefully reviewed and rated by a committee comprised of four people that included
two Lodi Budget/Finance Committee members, the Deputy City Manager/internal Services Director, and
the Financial Services Manager.
Interviews were conducted with two of the firms, MGO and Moss, Levy& Hartzheim, with MGO evaluated
with the highest score.
Based on the criteria and results of the interviews, the Lodi Budget/Finance Committee recommended
that the Council accept the proposal from MGO. Audit fees paid to MGO for fiscal year 2006-07 were
$94,200. The proposal from MGO is a five-year proposal with fees increasing by 3% each year.
FISCAL IMPACT None
FUNDING AVAILABLE: Current Operating Bud et: 100205.7323
i vans, Budget Manager
orepg§ R. Krueger
uty City Manager/Internal Services Director
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Prepared by: Ruby R. Paiste, Financial Services Manager
APPROVED: Qewo_-_�1'h 3`f�
61/
Blair King, City Manager
RESOLUTION NO. 2008-132
A RESOLUTION OF THE LODI CITY COUNCIL
AUTHORIZING THE CITY MANAGER TO EXECUTEAN
AGREEMENT WITH MACIAS, GINI & O'CONNELL TO
AUDIT THE CITY OF LODI FINANCIAL RECORDS FOR
THE NEXT FIVE YEARS BEGINNING FISCALYEAR
ENDING JUNE 30,2008
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby
authorize the City Manager to execute an agreement with Macias, Gini & O'Connell LLP
to audit the City of Lodi financial records for the next five years beginning fiscal year
ending June 30, 2008.
Dated: July 2, 2008
I hereby certify that Resolution No. 2008-132 was passed and adopted by the
City Council of the City of Lodi in a regular meeting held July 2, 2008, by the following
vote:
AYES: COUNCIL MEMBERS— Hansen, Johnson, Katzakian, and
Mayor Mounce
NOES: COUNCIL MEMBERS— None
ABSENT: COUNCIL MEMBERS— Hitchcock
ABSTAIN: COUNCIL MEMBERS — None
JOHL
City Clerk
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