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Approve a Contract Extension for Audit Services Contract for Fiscal Year 2017-18.
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Staff: |
Department: |
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Kenneth C. Pennoyer, Director |
Business Management |
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Amy Oland, Assistant Director |
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Overview: The attached resolution would authorize the Mayor to execute a contract with the Certified Public Accounting firm of Martin Starnes & Associates, P.A. to conduct the annual audit for the 2017-18 fiscal year. In June of 2017, Council awarded the Audit Services Contract for FY2016-17 to Martin Starnes based on the results of a Request for Proposals (RFP) process. The Contract includes a provision for four one-year contract extensions. Adoption of the attached resolution would authorize the first 1-year extension of the existing Audit Services Contract.
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Recommendation(s): |
That the Council adopt the attached resolution authorizing the execution of the audit services contract to Martin Starnes & Associates, CPA, P.A. in the amount of $51,500 for fiscal year 2017-18, extending the existing contract for one year.
Key Issues:
• The Town conducted an RFP for audit services in 2017 that resulted in the selection of Martin Starnes & Associates.
• Martin Starnes has been the Town’s external auditor since FY2007-08 and have provided consistent and responsive services and competitive pricing throughout their tenure.
• The contract with Martin Starnes & Associates includes a provision for four one-year extensions. FY2017-18 would be the first extension of the FY2016-17 contract.
Fiscal Impact/Resources: The audit fee for FY2017-18 is $51,500. The cost of the audit will be included in the FY2018-19 Manager’s Recommended Budget in the Business Management Department.
Where is this item in its process?
Council Goals:
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Create a Place for Everyone |
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Develop Good Places, New Spaces |
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Support Community Prosperity |
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Nurture Our Community |
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Facilitate Getting Around |
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Grow Town and Gown Collaboration |
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Attachments: |
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• Resolution |
A RESOLUTION AUTHORIZING THE EXTENSION OF THE CONTRACT WITH OF MARTIN STARNES & ASSOCIATES, CPAS, P.A. TO PERFORM THE TOWN OF CHAPEL HILL’S FY2017-18 AUDIT (2018-03-07/R-2)
WHEREAS, the Town of Chapel Hill is required by the Local Government Budget and Fiscal Control Act to have its accounts audited by a certified public accounting firm after the close of the fiscal year; and
WHEREAS, the Town of Chapel Hill issued a request for proposals in 2017 and selected Martin Starnes & Associates, CPAs P.A. to conduct the FY2016-17 audit with an option to renew their contract for 4 one-year extensions.
NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council hereby approves the renewal of that contract for one year and authorizes the Mayor to execute a contract with Martin Starnes & Associates CPAs P.A. in the amount of $51,500 for the Town’s FY 2017-18 audit.
This the 7th day of March, 2018.
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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 accepts the proposal for the Town’s FY2017-18 audit from Martin Starnes & Associates CPAs P.A. in the amount of $51,500, exercising the first of four one-year contract renewal options and authorizes a contract to be signed by the Mayor on behalf of the Town.