TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Javier Carcamo, Finance Director
PREPARED BY: Chauntal Anderson, Purchasing and Contracts Coordinator
SUBJECT:
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First Amendment with Rogers, Anderson, Malody & Scott, LLP
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RECOMMENDATION
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Approve the First Amendment to the Agreement for Financial Auditing Services between the City of Murrieta and Rogers, Anderson, Malody & Scott, LLP (RAMS); and
Amend the Operating Budget for Fiscal Year 2024/25.
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PRIOR ACTION/VOTE
On April 18, 2023, the City Council authorized a three year agreement with Rogers, Anderson, Malody & Scott, LLP (RAMS). (Vote: 4-0-1)1
CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
BACKGROUND
On January 17, 2023, the Finance Department ran a Request for Proposals (RFP) for the City of Murrieta (City) financial auditing services. The City received proposals from four firms with RAMS identified as providing the best overall value to the City.
On April 18, 2023, the City Council approved a professional service agreement with RAMS. RAMS is a licensed Certified Public Accounting (CPA) that specializes in auditing local government. The original agreement term was for three (3) fiscal years, with an option for two (2) one (1) year renewals. In consideration of the services to be performed by RAMS, the City agreed to pay the external audit firm $143,590 for the initial three-year term of the agreement. If the two optional years are exercised, the total five-year agreement would be $253,150.
RAMS has completed the first fiscal year of its contract and has exceeded the department's expectations for its timeliness and quality of work. However, based on the number of hours allocated to our City to complete the first-year audit, RAMS has requested that, effective with the fiscal year 2024 audit, an annual increase of 5% is applied to our previo...
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