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The City Charter, under Article VIII, Section 8.13 requires that at the close of each fiscal year, an independent audit shall be made of all accounts of the City by a Certified Public Accountant experienced in auditing cities. The City Charter further requires that the audit shall be completed on or before March 30th of each year.
Chapter 2254 of the Texas Local Government Code requires that local government contracts for professional services such as a licensed certified public accountant may not be awarded on the basis of competitive bids but shall be selected and awarded on the basis of:
- demonstrated competence and qualifications to perform the services; and
- for a fair and reasonable price.
On June 23, 2017, the City's Financial Services Department issued a Request for Proposal (RFP) soliciting proposals from public accounting and auditing firms qualified to perform the City's annual financial audit.
A total of seven (7) proposals were received from national and regional public accounting firms in response to the City's RFP for annual financial audit services:
- Belt Harris Pechacek, LLLP, Houston, Texas
- BKD, LLP, Houston, Texas
- Park Fowler & Co, Corpus Christi, Texas
- RSM US, LLP, Austin, Texas
- Sutton Frost Cary, LLP, Arlington, Texas
- Weaver & Tidwell, LLP, Austin, Texas
- WhitleyPenn, Austin, Texas
The proposals were evaluated and scored by City staff using the following criteria:
- Firm's qualifications and experience
- Qualification and experience of audit staff assigned to Kyle project
- Audit methodology and approach
- Audit schedule
- Estimated fees
A copy of the Request for Proposals (RFP No. 2017-01-PM) as issued by the City's Financial Services Department for annual financial audit services is attached to provided complete details for:
- Scope of services
- Qualification requirements
- Selection criteria
- Project timeline
The first annual financial audit to be completed under this professional services agreement with RSM US, LLP will be for fiscal year ending September 30, 2017. The audit fee as estimated and proposed by RSM US, LLP to perform the annual examination and audit of the City's financial statements and supporting financial records for the 5-year term of the agreement is as follows:
- Fiscal year ending 9-30-2017: $58,044
- Fiscal year ending 9-30-2018: $62,033
- Fiscal year ending 9-30-2019: $58,966
- Fiscal year ending 9-30-2020: $59,888
- Fiscal year ending 9-30-2021: $61,595
The approved budget for the Financial Services Department includes funding for the estimated audit fee for fiscal year ending September 30, 2017. For subsequent fiscal years, the annual audit fee will be appropriated and expended in future annual operating budget of the Financial Services Department.
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