Title
RFP No. 2020-102 - Professional Auditing Services and Comprehensive Annual Financial Report (CAFR) Preparation Services.
(Authorize the City Manager to finalize and execute a contract with BKD, L.L.P., in the amount of $132,500.00 for 2020 with up to a three percent increase annually through 2024. The term of this contract is for one year, with four additional one-year renewal options. The City Manager is authorized to exercise the renewal options, subject to annual appropriation of sufficient funds.)
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Name of Department
Finance
Project/Budgeted Amount
$175,000.00 per fiscal year
Sum of Bid/Bid Amount
$132,500.00 2020
$136,000.00 2021
$139,500.00 2022
$143,500.00 2023
$147,500.00 2024
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Requests for Proposals (RFP) for conducting the City's annual financial audit with agreed-upon procedures and CAFR preparation were published in the Daily Commercial Record newspaper, broadcast through BidSync, an electronic bidding system, and posted on the City's website. A total of seven responses were received.
Section 103 of the Texas Local Government Code requires municipalities to have its records and accounts audited annually and to prepare an annual financial statement based on the results of the audit. The City Charter, Article IV, Section 32 fulfills the auditing requirements.
"The City Council shall cause audits annually to be made of the books and of accounts of each and every department of the City. Such audits shall be made by a competent public accountant who shall be selected by the City Council, and a contract entered in from year-to-year; and such contract shall provide that the books of the City shall be audited at least annually; and such auditor's report to the City Council shall be accessible to the public or for publication."
In addition, this solicitation and resulting contract fulfills the requirements specified in the Accounting, Auditing and Financial Reporting Policy adopted by the City Council on February 4, 2019.
The following t...
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