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REQUEST FOR CITY COUNCILAGENDA ITEM <br />Amount Budgeted <br />Agenda Date Requested: <br />August 26, 2013 <br />Source of Funds:N/A <br />Requested By <br />Michael Dolby, CPA Director of Finance <br />Account Number: <br />Department: <br />FINANCE <br />Amount Budgeted: <br />:xx <br />Report: Resolution:Ordinance <br />Amount Requested: <br />Exhibits: Strike-through Ordinance <br />Budgeted Item:YESNO <br />Exhibits: Clean Ordinance <br />Section 2-106-Qualification requirement of bidders requires the low bidder to submit a <br />qualification statement which includes audited financial statements for contracts in excess of (1) <br />one million dollars. Staff reviewed this requirement during the budget workshops and <br />determined requiring audited statements on jobs of a lesser magnitude (above one million but <br />less than 2 million) places an undue burden upon onpotential bidders and may limit our selection <br />of successful bidders.Therefore, staff recommends relaxing the audit requirement for contracts <br />that are above (1) million but less than (2) million with reviewed financial statements that are <br />performed by an independent certified public accountant. Contracts which are above (2) million <br />will continue requiring audited financial statements. <br />Action Required by Council: <br />Consider approval or other action of an Ordinance amending Chapter 2 of the Code of <br />Ordinances to modify the audit requirement for contracts over $1 million and less than $2 <br />million to allow financial statements to be performed by an independent certified public <br />accountant. <br />Approved for City Council Agenda <br />Corby D. Alexander, City ManagerDate <br />Mydocuments\contractorqualification <br /> <br />