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Regular 7.
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| LAFCO |
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| Information |
| SUBJECT |
| Authorize the Chair to sign Agreement 2021-05 for services between Yolo LAFCo and Richardson & Company LLP, not to exceed $12,900 to conduct an independent audit of the Yolo LAFCo financial statements for the fiscal years ending in 2021, 2020, and 2019 |
| RECOMMENDED ACTION |
| Authorize the Chair to sign Agreement 2021-05 for services between Yolo LAFCo and Richardson & Company LLP, not to exceed $12,900 to conduct an independent audit of the Yolo LAFCo financial statements for the fiscal years ending in 2021, 2020, and 2019. |
| FISCAL IMPACT |
| For fiscal year 2021/22, the LAFCo budget appropriated a total of $15,000 under Professional Services for Auditing and Accounting Services. The contract is not to exceed $12,900. Therefore, sufficient funds were budgeted for this contract and no fiscal impacts are anticipated. |
| REASONS FOR RECOMMENDED ACTION |
| Per Yolo LAFCo Administrative Policies and Procedures Section 5.18, LAFCo shall have financial audits performed on a three year cycle (i.e. the auditor reviews the prior three fiscal years at one time). In addition, the LAFCo Commission must authorize and execute contracts greater than $5,000 in accordance with LAFCo's Administrative Policies and Procedures Section 5.11. |
| BACKGROUND |
A Request for Proposals was issued for auditing services in March 2021 and four proposals were received as follows:
- CliftonLarsonAllen for $12,000
- Fechter & Company for $15,000
- Harshwal & Company, LLP for $11,000
- Richardson & Company, LLP for $12,900
The review committee included the LAFCo staff. The committee met on May 24, 2021 and had all independently ranked Richardson & Company LLP as the top ranked firm based on their proposal, experience and price. Richardson & Company has performed two audits for Yolo LAFCo in the past, both prior to 2015. The firm's experience with the County's financial and pension system working both with LAFCo and other agencies in the county cinched it. |
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