Fiscal Note
The proposed resolution authorizes a contract with Baker Tilly Virchow Krause to conduct the City’s annual external audit. The proposed contract has a three year term with the option to extend the contract for up two years. The annual cost for the contract is $199,000 in the first year, under the terms the contract will grow by 3% annually (or $6,000) over the life of the contract.
This contract covers external audit costs for the following funds: General, Metro, Water, CDA, TIF Districts, Public Health, and Single Audit. The General Fund share of the contract is $87,800, funding for this share of the contract is included in the Finance Department’s 2020 purchased service budget.
Title
A Resolution authorizing the Mayor and City Clerk to sign a contract with Baker Tilly Virchow Krause, LLP for independent external audit services for fiscal years 2019, 2020, and 2021 with an option to extend the contract for two subsequent fiscal years 2022 and 2023.
Body
WHEREAS, the existing contract for independent external audit services expires during 2019; and,
WHEREAS, the City participated in a bidding process to solicit proposals under RFP 8835-0-2019-BO issued June 27, 2019 for professional auditing services; and,
WHEREAS, an evaluation team consisting of Finance and relevant Department staff conducted a detailed evaluation, scored and ranked each of the proposals using criteria including independence, licensing to practice in Wisconsin, quality and experience, specific audit approach, and cost of service; Baker Tilly Virchow Krause, LLP was selected; and,
WHEREAS, to complete the auditing work, a three-year contract is required, and Baker Tilly Virchow Krause, LLP proposed a contract price not to exceed $223,500 per year to perform audit services and prepare a report and accomplish all of the other deliverables required by RFP 8835-0-2019-BO; and,
WHEREAS, under MGO 4.26(3)(e), service contracts of more than one year that average more than $100,000 per year in cost require Common Council approval and signature by the Mayor and City Clerk,
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and City Clerk are authorized to sign, on behalf of the City, a contract for independent external audit services with Baker Tilly Virchow Krause, LLP at the prices described above, for a term of three (3) years with an option to extend the contract for two (2) subsequent years.