SUBJECT:
Action Regarding Approval of Audit Engagement Letter with Weaver and Tidwell for Fiscal Year 19/20
BACKGROUND/DISCUSSION:
Each year the City Council must appoint a firm to perform the annual audit. Last year a two year contract with the option of three, one year extensions was approved with Weaver Tidwell.
FINANCIAL IMPACT:
The cost of the audit will be $45,900 per the previously approved contract. In addition to the regular audit, a single audit must be performed. This is necessary due to the receipt of federal funding through the CARES Act. The cost of the single audit will be a additional $5,000.
RECOMMENDATION:
Staff recommends approval of the engagement letter with Weaver Tidwell for the FY19/20 audit. |