Placement: Consent Agenda
Action Requested: Motion / Vote
title
Appoint Mayor Martin to Serve as Chair of the Auditor Selection Committee.
body
Submitted By: Stephen Okiye, Finance Director, Finance Department.
Strategic Plan Link: The City's Mission to be financially responsible.
Executive Summary (General Business): Florida Statutes requires an Auditor Selection Committee be created when selecting an auditor to conduct the annual financial audit. One of the members of the auditor selection committee must be a representative of the City Council, who shall serve as the committee chair.
Presentation Information: Member(s) of Finance will be available.
Staff Recommendation: Move that the Council appoint Mayor Martin to serve as chair of the Auditor Selection Committee.
Alternate Recommendations:
1. Move that the Council amend the recommendation and appoint Mayor Martin to serve as chair of the Auditor Selection Committee.
2. Move that the Council provide staff direction.
Background: Per Florida Statutes, the auditor selection committee for a municipality must consist of at least three members. One member of the auditor selection committee must be a member of the governing body of an entity who shall serve as the committee chair. The primary purpose of the auditor selection committee is to assist the governing body in selecting an auditor to conduct the annual financial audit required in s. 218.39. The auditor selection committee establishes factors to use to evaluate audit services. Such factors include the ability of personnel, experience, ability to furnish the required services, and such factors as may be determined by the committee to be applicable.
Issues/Analysis: The current contract for auditing services ends upon completion of the Fiscal Year (FY) 2022 audit. A new Request for Proposals (RFP) needs to be issued for the FY2023 audit. An annual financial audit is required by s. 218.39.
Financial Information: N/A
Special Consideration: N/A...
Click here for full text