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Award a Contract for Fiscal Year 2023-24 Audit Services
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Staff: |
Department: |
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Amy Oland, Director |
Business Management |
Overview: Award a contract for FY 2023-24 audit services.
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Recommendation(s): |
That the Council adopt the attached resolution and award the audit services contract to Mauldin & Jenkins in the amount of $57,000 for fiscal year 2023-24, with the option to renew the contract for each of the following four fiscal years based on satisfactory performance each year.
Key Issues:
• The Town has used Martin Starnes & Associates, P.A. as its external auditor since FY 2007-08. While we've been satisfied with their services, periodic bidding for professional services is a best practice that helps to ensure that the Town is receiving the best value for these services.
• For continuity purposes, the proposed contract includes four one-year extensions, for a total of 5 years, dependent on satisfactory performance.
• The Town received two proposals from qualified firms. A staff team evaluated the proposals and determined that the proposal from Mauldin & Jenkins was the best value for the specified services.
Fiscal Impact/Resources: The audit fee for FY 2023-24 is $57,000. Funds are available in the adopted budget to pay for these services.
Where is this item in its process?
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Attachments: |
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• Resolution |
A RESOLUTION AUTHORIZING THE SELECTION OF MAULDIN & JENKINS TO PERFORM THE TOWN OF CHAPEL HILL’S 2023-24 AUDIT (2024-04-17/R-2)
WHEREAS, the Local Government Budget and Fiscal Control Act requires the Town to have its accounts audited by a certified public accounting firm after the close of each fiscal year; and
WHEREAS, the Town has issued a request for proposals from qualified audit firms and has evaluated responses, determining that the firm of Mauldin & Jenkins provides the best value regarding the specified audit services; and
NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council hereby authorizes the mayor to accept the proposal for the Town’s 2023-24 audit from Mauldin & Jenkins in the amount of $57,000 with the option to renew the contract for each of the following four fiscal years based on satisfactory performance each year.
This the 17th day of April, 2024.
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The Agenda will reflect the text below and/or the motion text will be used during the meeting. |
presenter
By adopting the resolution, the Council awards the audit services contract for FY 2023-24 to Mauldin & Jenkins.