TO: Mayor and Members of City Council
THRU: Jeffrey Yates, Assistant City Manager
FROM: Jody Picarella, CPA, MBA, Chief Financial Officer
DATE: May 13, 2024
RE:
Title
Approval of the Amended Independent Auditor Contract for the Year Ended June 30, 2023
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
GOAL V: Financially Sound City Providing Exemplary City Services
Objective A: Ensure strong financial management with fiduciary accountability and plan for future resource sustainability by aligning resources with City priorities.
Executive Summary:
The City and PWC are required by North Carolina state statutes and granting agencies to have an annual audit and the Local Government Commission requires annual contracts.
Background:
The City’s Finance-Purchasing Division prepared and advertised a request for proposals (RFP) for the selection of the independent auditor on February 10, 2021. Two proposals were received on March 2, 2021. The RFP is for three annual audits for the fiscal years ending June 30, 2021, June 30, 2022, and June 30, 2023. The Audit Committee recommended PBMares, LLP and City Council approved PBMares, LLP as well.
Council approved the FY23 Audit Contract on consent during the August 28, 2023, Council meeting.
Issues/Analysis:
The Local Government Commission requires annual contracts and amendment of annual contracts when applicable.
Budget Impact:
Not yet available
Options:
Approve the audit contract or provide staff with further direction.
Recommended Action:
Staff recommend the approval of the audit contract as presented.
Attachments:
Not yet available