TO: Honorable Mayor and Members of the City Council
THRU: Rick Otto, City Manager
FROM: Will Kolbow, Assistant City Manager
1. SUBJECT
title
Agreement with Lance, Soll & Lunghard, LLP for Financial Audit Services for the City and the Successor Agency of the former Orange Redevelopment Agency for fiscal years 2020-2021 through 2022-2023; Bid No. 20-21.35.
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2. SUMMARY
A Request for Proposal (RFP) for Financial Audit Services resulted in proposals from seven firms. A panel reviewed the proposals and interviewed two of the firms. Based on the proposals submitted, the interviews, and the reference checks, Lance, Soll & Lunghard, LLP was the top candidate.
3. RECOMMENDED ACTION
recommendation
Approve the three year agreement with Lance, Soll & Lunghard, LLP in the total amount of $163,363 and authorize the Mayor and City Clerk to execute on behalf of the City.
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4. FISCAL IMPACT
The total expenditure for this three-year agreement is $163,363 and, depending on the scope and materiality of audit testing, will be funded through General Fund (100), Water (600), Sanitation & Sewer (220), AQMD (245), CDBG (310), HOME (317), Asset Forfeiture (355), and Orange Merged Capital Projects (940).
5. STRATEGIC PLAN GOALS
Goal 2: Be a fiscally healthy community
a: Expend fiscal resources responsibly.
d: Effectively manage and develop City assets.
6. DISCUSSION AND BACKGROUND
The City's five-year contract with White Nelson Diehl Evans, LLP expired with the completion of the Fiscal Year 2020 audit. In February, staff prepared and distributed RFP 20-21.35 for Financial Audit Services.
Eight proposals were received in response, and two firms met our criteria to interview: Davis Farr, LLP and Lance, Soll & Lunghard, LLP. The interview panel included the City Treasurer, Assistant City Manager, Assistant Finance Director, and Accounting Manager. After reviewing the qualifications and three-year pricing proposals of each of the two firms, ($175,000 and $163,363...
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