Explanation
May 30, 2003
BACKGROUND
This ordinance will authorize the City Auditor to enter into an agreement for professional auditing services for the calendar year 2003, of the City of Columbus, the Columbus Regional Airport Authority (CRAA), the Franklin Park Conservatory District (the District) and the Franklin County Municipal Court, and to authorize the expenditure of $395,550, therefor.
At the direction of the Auditor of State an extensive request for proposals and evaluation process was conducted. Two proposals were received. Evaluations of these proposals were conducted by both the City Auditor's Office and the State Auditor's Office, independent of each other. Both offices concluded that the contract should be awarded to Deloitte & Touche LLP.
The audit agreement covers 5 years (2001-2005) with each year being subject to the authorizing appropriation of Council. This 2003 ordinance represents the third year of this five-year cycle. Annual costs of the audits are as follows:
Audit period Audit cost
2001 $ 390,000
2002 384,600
2003 395,550
2004 406,500
2005 417,450
CRAA and the District will reimburse the City for their proportionate share of the audit cost. The audit cost for the Columbus/Franklin County Affordable Housing Trust Corp (AHT) remains undetermined at this time but such cost will be borne by the AHT.
It should be noted that 15% of this contract will be subcontracted to a minority firm of certified public accountants. This has been a subcontracting requirement in the City's audit contract since 1985.
FISCAL IMPACT
Funds are currently budgeted in the City Auditor's department for this expenditure.
Title
To authorize and direct the City Auditor to enter into an agreement with Deloitte and Touche LLP for professional auditing services for calendar year 2003 and to authorize the expenditure of $395,550 from the General Fund. ($395,550)
Body
Whereas, the State of...
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