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Award a Contract for Fiscal Year 2023-24 Audit Services
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Staff:
Department:
Amy Oland, Director
Business Management
Overview: Award a contract for FY 2023-24 audit services.
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?
Attachments:
* 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 a...
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