TO: Honorable Mayor & Members of the North Port Commission
FROM: Peter D. Lear, CPA, CGMA, City Manager
TITLE: Agreement No. 2018-63, Mauldin and Jenkins, LLC., of Bradenton, Florida for financial auditing services.
Recommended Action
Approve Agreement No. 2018-63, Mauldin and Jenkins, LLC., of Bradenton, Florida for financial auditing services in accordance with the annual cost, single audit cost and hourly rates for any additional required services.
Background Information
In accordance with Section 218.391, Florida Statutes, the City passed Ordinance No. 2014-04 establishing an Audit Committee. The purpose of the committee is to issue a Request for Proposal (RFP) for independent auditing services and then the subsequent ranking of the submittals which are received. Request for Proposal No. 2018-63 was issued on August 3, 2018. Five (5) proposals were received from qualified financial auditing firms. The proposals were evaluated and ranked by the Audit Committee on September 10, 2018 and the Committee recommended award to Mauldin and Jenkins, LLC as the top ranked and most qualified firm meeting the specifications of the City.
This agreement is for financial auditing services for fiscal years ending 2018 through 2022 in accordance with the prices, terms and conditions provided. The agreement may be extended for two (2) additional two (2) year terms by mutual agreement and within budgetary limitations, at the same terms and conditions.
The cost for the initial agreement term is as follows:
Fiscal Year
Basic Audit
Single Audit
2018
$54,000
$3,750
2019
$54,000
$3,750
2020
$55,000
$3,750
2021
$56,000
$4,000
2022
$57,100
$4,000
Any additional work agreed to between the City and Mauldin and Jenkins shall be performed at the same rates set forth in the schedule of fees and expenses included in the cost proposal.
The City Attorney has approved the agreement to form and content.
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