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<br />REQ.ST FOR CITY COUNCIL AcA-DA ITEM <br /> <br />Agenda Date Requested: September 13. 2004 <br /> <br />~~ <br />Requested By: Mil'hael Dolby, A~d Finanl'e Direl'tn( .. / <br /> <br />Appropriation <br /> <br />Source of Funds: 001,016, & 039 <br /> <br />Department: FI~ A ~CE . <br /> <br />Account Number: 5001 - Audit <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />xx <br /> <br />Amount Budgeted: $64,000 <br />Amount Requested: $56,000 <br /> <br />Exhibits: Contract <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The finance office is requesting to enter into a one year contract with Null-Lairson to perform the <br />September 2004 year- end audit. Null- Lairson has over 25 years of audit experience and offers <br />unrivaled stability and continuity to the City of La Porte. They have been our auditors in the past and <br />based on performance and experience, we believe they will do an excellent job. <br /> <br />The City appreciates the size of the firm, and the qualifications and availability of professional personnel <br />assigned to our audit. They are recognized nationally for their expertise in GASB 34, which is in our <br />second year of implementation. Their reference checks verified our interpretation of their abilities and <br />provided a record of quality audit work, as well as expertise with the HTE computer systems. Staff <br />believes the firm is well qualified to perform the financial audit of the City. <br /> <br />The audit fee proposed by Null- Lairson is $56,000 dollars. This amount is slightly less than what we paid <br />in the past year. We did ask for the firm to provide a quote for the preparation of the financial statements <br />and received a price of $8,000 for 2004. At this time, we are reserving the right to execute that option at <br />a later date. There is $64,000 budgeted in the 2004-2005 Budget for Auditing Services. <br /> <br />At this time, staff recommends we proceed with a one-year engagement with Null- Lairson for financial <br />auditing services to the City of La Porte. <br /> <br />Action Required bv Council: <br /> <br />Approve Ordinance authorizing agreement with Null Lairson for auditing services for a one- year period <br />(September 30, 2004) <br /> <br /> <br />Date <br /> <br />fir (o'f <br />I <br /> <br />~ <br />