Title
Resolution accepting the recommendation of the City Manager to renew the contract for an additional three (3) years for McGladrey & Pullen, LLP, to continue providing the auditing services for the City.
Body
On September 28, 2004, Resolution No. 2004-204 was passed and adopted, accepting the recommendation of the City Manager approving the decision pursuant to the Request for Proposal (RFP) to select McGladrey & Pullen to provide auditing service for the Finance Department and further authorizing the City Manager to sign and execute a contract for an initial period of three (3) years with one (1) option to renew for an additional three (3) years with a not to exceed amount of $197,900.00 for the initial three (3) year period.
McGladrey & Pullen, LLP, has completed the initial three (3) years of providing auditing services to the Finance Department. Pursuant to the RFP dated July 2004 under paragraph 1.16, contract Execution and Terms, the terms of the contract shall be for a period of three (3) years with one (1) additional option to renew for a three (3) year period at the same terms and conditions.
The total annual audit fee schedule for the three fiscal years ending September 30, 2007, September 30, 2008 and September 30, 2009 will be $125,000, 135,000 and $150,000 respectively. The total all-inclusive annual fee includes audit of the Comprehensive Annual Financial Statements, including the Coral Gables Retirement System, Florida Single Audit, Federal Single Audit and the Annual Retirement Report.