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TRANSPORTATION AGENCY FOR MONTEREY COUNTY Memorandum | |
| | | | | | | | | To: | Board of Directors | | From: | Rita Goel, Director of Finance & Administration | | Meeting Date: | October 26, 2022 | | Subject: | Agreement For Auditing Services |
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| | | | | | | | | RECOMMENDED ACTION: | Agreement For Auditing Services
- AUTHORIZE the Executive Director to execute contract Amendment #1 with Moss, Levy & Hartzheim LLC in an amount not to exceed $23,730 per year for a two year extension to provide auditing services for the period ending June 30, 2025;
- APPROVE the use of $47,460 for the extended term of the Agreement in funds budgeted for this purpose; and
- AUTHORIZE the Executive Director to make administrative changes to the contract if such changes do not increase the Agency’s net cost, subject to approval by Agency counsel.
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| | | | | | | | | SUMMARY: | | The Agency's current agreement expires June 30, 2023. Due to staffing issues and the need for continuity in auditing services, staff recommends a two year extension of the Agreement. The current contract rate of $23,730 for FY 21/22 audit, which was negotiated in 2017, will remain the same in Amendment #1 for FY 22/23 and FY 23/24 audit. |
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| | | | | | | | | FINANCIAL IMPACT: | | The auditing firm currently has a rate of $23,730 per year, which will remain the same for the two year extension. There are sufficient funds in the budget to cover this expense on an annual basis. |
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| | | | | | | | | DISCUSSION: | The Agency’s current contract for auditing services expires June 30, 2023; an agreement needs to be in place before the current Agreement expires.
Moss, Levy & Hartzheim LLC was selected in 2017 after a Request for Proposals was issued. Due to several retirements that are occurring in the accounting department in the next year, a recent unsuccessful recruitment search for a Director of Finance and Administration, and the need for continuity of the Agency’s auditing requirements, staff recommends the approval of a two year extension of the current Agreement with Moss, Levy & Hartzheim LLC to provide auditing services to the Transportation Agency for Monterey County, based on experience, knowledge, and cost.
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