From
Finance Department
Title
Professional Services Contract for auditing services with Weaver, LLP, in an estimated annual amount of $165,500.00 for Fiscal Year 2017, and authorize the City Manager to approve up to four one-year term renewal options, as long as the Council appropriates funds. The total amount estimated to be paid to the vendor if all renewal options are executed shall not exceed $827,500.00 as long as the Council appropriates funds and the total cost of this contract does not increase by $50,000.00.
Presenter
Diana G. Ortiz, Chief Financial Officer
Recommended Action
Approve
Analysis
The current contract expired with the completion of the audit of The City of Grand Prairie's annual financial statements for Fiscal Year 2016. This contract was originally awarded in 2006 for one year with the option to renew for four, additional one-year periods. The selection of Weaver, LLP was made from a competitive sealed proposal process, in which two responses were received (Weaver, LLP and Deloitte & Touche). Selection was made based on demonstrated competence, qualifications to perform the services, and for a fair and reasonable price.
In 2010, the City elected to re-enter a contract with Weaver, LLP for one additional one year with four, optional one-year renewals without going through another proposal process as the City experienced that Weaver, LLP is a viable and competent firm and performs these services for a fair and reasonable price.
The option to solicit request for proposals was presented and discussed at the Finance & Government Committee on July 12, 2016. The committee agreed that the existing audit firm, Weaver, LLP, provides great service and it would not benefit the City to change providers. This service qualifies as a "Professional Service" in Chapter 2254 of the local government code, Professional Services Procurement Act. Therefore, selection and award of a service provider is allowed on the basis of demonstrated competence and qualifications to perform the services; and, for a fair and reasonable price.
This contract, should the Council move to approve, would extend Weaver LLP's auditing services for Fiscal Year 2017 for its initial term with the option to renew for four additional one-year terms covering four subsequent fiscal years respectively (FY 2018-FY 2021).
Financial Consideration
Payments are part of the FY 2017/2018 Proposed Budget in five funds including General, Pooled Investments, Water/Wastewater, Solid Waste and Section 8 (Housing). The accounting units are 221110, 223810, 361010, 303510, 300192, respectively, with the account number (line item) 61385.