HomeMy WebLinkAbout15 3 Yr Contract Renewal - Moss Adams
ACTION ITEM #15Services with Moss AdamsConsideration To Renew Contract Services with Moss AdamsConsideration To Renew Contract July 20, 2016
Consideration For Contract ~$40,000 to $46,000 per audit•Audited the District’s annual financials from 2011 thru 2015•in company size in 2015 th Nationally ranked 15•Moss Adams•Audit
contract is needed for future annual audits•Auditors are hired by the Board and report to the Board•BACKGROUND / HISTORY Moss Adams–enewal RConsideration For Contract Moss Adams–enewal
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NEW INFORMATION processprinciples is important for a smooth, consistent, and transparent Continuity with an audit firm throughout these changes in accounting •Other than Pensions”“Accounting
and Financial Reporting for Postemployment Benefits process with the implementation of GASB Statement No. 75 In FY18 the District will undergo a similar planned restatement •Moss Adams
was instrumental in assisting the District •Reporting for Pensions”principle for GASB Statement No. 68 “Accounting and Financial financials in order to implement a required change in
accounting 2015 financials preparation required a planned restatement of FY14 •AdamsMoss –Consideration For Contract Renewal AdamsMoss –Consideration For Contract Renewal
NEW INFORMATION Always on schedule and on budget•Professional and knowledgeable•Regularly turn over field staff to ensure fresh perspective•Specialize in the utility industry•Retains
leadership team •Moss Adams•AdamsMoss –Consideration For Contract Renewal AdamsMoss –Consideration For Contract Renewal
FISCAL IMPACT servicesSufficient funds exist in the FY16 and FY17 Budget for annual audit •reimbursement expenseto exceed additional annual amount of $6,000 in travel Not •46,000 for
2018 $•201744,500 for $•201643,000 for $•renewala three year contract Adams has proposed Moss •Moss Adams–Consideration For Contract Renewal Moss Adams–Consideration For Contract Renewal
RECOMMENDATION the 2016, 2017, and 2018 auditsextend services with Moss Adams for the District’s annual audits for Authorize the Board President to execute a contract to renew and •AdamsMoss
–Consideration For Contract Renewal AdamsMoss –Consideration For Contract Renewal