HomeMy WebLinkAboutAgenda Report - May 20, 1998 (69)CITY OF i1
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AGENDA TITLE: Financial Audit Services
MEETING DATE: May 20, 1998
PREPARED BY: Finance Director
COUNCIL COMMUNICATION
RECOMMENDED ACTION: By motion action, the City Council authorizes the City Manager to enter into
an agreement with KPMG Peat Marwick to audit the City's financial records for
fiscal year 1997-98 ending June 30, 1998,
BACKGROUND: The agreement with KPMG Peat Marwick for audit services ended with the
audit for fiscal year ending June 30, 1997. Accordingly, the City sent RFP
to qualified firms on February 18, 1998. Staff recommended rejection of the bids on
April 1, 1998 and is now requesting to enter into an agreement with KPMG Peat
Marwick for the audit of its financial records for the fiscal year ending June
30,1998.
Prior to the next audit, the City staff will prepare a Request for Proposal for audit services and forward this request to
all qualified firms for their proposal in accordance with the Single Audit Act. At that time the City Council will
determine the audit firm to be employed by the City to conduct annual audits for the next five years.
FUNDING: 1998-99 Operating Budget
—Vicky Mc tie
Finance Director
APPROVED: J.
H. Dixon Flynn -- City M pager