City Council Meeting Date: October 4, 2016
To: Mayor and City Council
City Administrator
From: Melanie Lammers, Finance Director
Title
Consider Request for Proposal for Audit Services.
Body
Action Requested:
The Northfield City Council approves a request for proposal for audit services.
Summary Report:
Attached is a request for proposal for audit services. We are requesting quotes for audit services for the next three years. We are not dissatisfied with our current auditor, Abdo, Eick, and Meyers, but would like to take a look at what other firms are offering. We have also not been out for a competitive bid since 2008. Staff is suggesting it is timely to consider bidding in an effort to ensure a competitive rate for our audit. The following is the anticipated timeline for this process:
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Request for Proposal issued: |
October 4, 2016 |
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Proposals due at City office: |
October 31, 2016 |
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Possibility of Interviews: |
November 14-18, 2016 |
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City Council Approval of auditor selection: |
December 6, 2016 |
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Selected firm notified: |
December 7, 2016 |
Alternative Options:
Continue to approve a yearly contract with our current Auditor.
Financial Impacts:
We have an amount budgeted for our 2016 audit included in the 2017 budget. It is anticipated this dollar amount will cover the 2016 audit.
Tentative Timelines:
We need to approve an audit contract for service before the end of 2016, or we may have a difficult time completing our 2016 audit by the statutory deadline at the end of June 2017.