Subject:
Title
Increase annual fee to auditors to meet federal audit requirements
Body
EXPLANATION AND SUMMARY:
The federal government requires additional auditing procedures and an additional audited report called the “Single Audit” for localities that spend more than $750,000 annually through federal grant programs. This was not considered in the original audit fee proposal for FY 2021 (FY 2020 audit), which was based on RFP 15-04 for auditor services. Extra fees for additional services are allowed under Robinson Farmer Cox’s fee proposal for RFP 15-04, which has been accepted by the Town. The requirements for auditing CARES funds received under the FY 2020 audit period were complex, and the Town agrees that this extra charge for federally required services is reasonable.
The Finance Department requests payment of an additional $3,000 for federal auditing and reporting of CARES Act funds.
Strategic Plan Initiative: Vienna is a fiscally responsible community.
Departmental Recommendation: Recommend approval of fee increase to meet federal auditing requirements.
Finance Recommendation: Recommend approval.
Purchasing Recommendation: Recommend approval.
Town Attorney Recommendation: Town Council may approve the proposed expenditure of funds and modification of scope in its discretion.
Town Manager's Recommendation: I recommend the Town Council approve additional expenditure of $3,000 to Robinson, Farmer Cox Associates, PLLC for additional auditing procedures required for auditing federal CARES Act funds as part of the Town’s FY 2020 audit, as presented.
Cost and Financing: $3,000 addition
Account Number: 100-103-1031-13150-43103
Decision Needed by This date: February 1, 2021
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to approve additional expenditure of $3,000 to Robinson, Farmer Cox Associates, PLLC for additional auditing procedures required for auditing federal CARES Act funds as part of the Town’s FY 2020 audit."
Or
Other action deemed necessary by Council.