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Consent-General Government # 12.
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| Board of Supervisors |
Financial Services |
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| Subject |
Receive and file results of the Request for Proposals for independent audit services and authorize staff to negotiate a contract with Macias, Gini & O'Connell, LLP to provide independent audit services for the fiscal year ended 6/30/13 at a cost estimated at $142,451, with option to renew for two additional fiscal years at costs estimated at $142,451 and $153,383. (No general fund impact) (Newens) |
| Recommended Action |
| Authorize the County Auditor-Controller and County Counsel to negotiate a contract with Macias, Gini & O'Connell, LLP (dba Macias Consulting) to provide audit services to the County in accordance with the attached request for proposals (Att. A) issued by the County and the proposal submitted by said firm (Att. B), at a cost estimated at $142,451 for 2013 audit; $142,451 for 2014 audit; and $153,383 for 2015. |
| Strategic Plan Goal(s) |
| Provide fiscally sound, dynamic and responsive services |
| Reason for Recommended Action/Background |
The County's contract with the current independent auditor, Vavrinek, Trine, Day, LLP, expires on 6/30/13 and, as requested by the County's Audit Committee at its 1/28/13 meeting and as authorized by the Board of Supervisors at its 2/26/13 meeting, the Auditor-Controller issued a request for proposals for independent audit services and received four proposals to provide the annual financial audit and the Single audit for fiscal year ending 6/30/13 as shown below:
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James Marta |
Macias Consulting |
Gallina |
Brown Armstrong |
| 2012-13 audit |
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| A. Audit of county FS |
47,400 |
64,776 |
61,640 |
56,250 |
| B. Single Audit |
36,000 |
59,670 |
29,760 |
62,100 |
| Total |
83,400 |
124,446 |
91,400 |
118,350 |
Each proposal includes options for renewing for two additional years. A panel of five finance managers from the County Administrator, Department of Employment and Social Services and Auditor-Controller reviewed the technical qualifications and proposed costs and unanimously recommended Macias, Gini & O’Connell, LLP (dba Macias Consulting). Technical qualifications include relevant experience of the firm and of its staff and their approach to provide the requested audit services. In making this recommendation the panel also considered the upcoming new accounting standards and the anticipated change in the county financial system. The panel also recommended that the Treasury Oversight Committee engage the same firm to perform the compliance audit of the county treasury for an additional cost of $18,005, which is fully recoverable from the treasury portfolio earnings. The total cost for these audits would then be $142,451.
Macias Consulting is a well-known accounting firm with extensive audit experience in the public sector in California. They are the current auditor for six large cities and eight counties in California, as well as the California Public Employees' Retirement System. |
| Other Agency Involvement |
| The County Audit Committee has been informed of the results of the competitive bidding. |
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| Fiscal Impact |
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| Source of Funds for this Expenditure |
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Explanation (Expenditure and/or Revenue) |
| Further explanation as needed: |
The total cost represents a 10% increase from the prior year's. Of the total estimated costs for 2013-14 of $142,451,
$124,446 have already been included in the 2013-14 budget. $18,005 cost of auditing the county treasury will be recovered fully from investment earnings |
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