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September 7, 2022 Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to ACTION ITEM #17
•BACKGROUNDBACKGROUND Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration for a Professional
Services Contract to extend their services.for proposals or request a proposal from current auditors to request public code outlines a cycle of every three years issuing a District
•audit firm is hired by the Board and reports directly to the Board. The •annually. independently audited to be statements code requires the District’s financial District •Associated
Municipal Power Systems (UAMPS) and the Navajo Utah
•BACKGROUNDBACKGROUND Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration for a Professional
Services Contract to firm headquartered on the west coast.data) and is the largest firms100top2021(accountingtoday.com/theAdams was ranked 11th nationally for firm size in 2021 Moss
•and 2021 fiscal year audits.2019, the Board renewed Moss Adams contract for the 2019, 2020 In •FY11. the District’s auditors since Adams has been Moss
•ANALYSISANALYSIS Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration for a Professional
Services Contract to proposal. firm has an extensive utility practice, as detailed in their The •the District’s audit. Renewable Energy, serves as the Quality Control Reviewer Partner
for , National Practice Leader in Power, Utilities, & DesimoneJulie •manager, now partner Keith Simovic. former by Oregon office and has been lead the last few years Adams services
for the District are based out of the Portland, Moss
•ANALYSISANALYSIS Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration for a Professional
Services Contract to .Associationa Certificate of Excellence from the Governmental Finance Officers 1st Annual Comprehensive Financial Report for FY20, which received 2021 Moss Adams
provided valued assistance with the District’s In •areas of the District’s financials and internal controls. Moss Adams consistently rotates assigned personnel and testing •expertise.particular,
the depth of utility and governmental The District has been satisfied with the audit services provided, in
•ANALYSISANALYSIS Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration for a Professional
Services Contract to new benefits to the Districtanticipated no resources, with auditing firms will require additional staff Changing •contract level. staff does not estimate a materially
lower cost than the current RFP will likely provide a range of costs and service levels, though An •Moss Adams contract. (RFP) for next three years of audit services or consider extending
for Proposal public Request The Board may direct staff to distribute a
•ANALYSISANALYSIS Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration for a Professional
Services Contract to technology fee of 5%.expenses (which may not be incurred) and an administrative and $63,950 and $65,250, respectfully. These amounts include travel $61,600 and
includes an option to renew for FY23 and FY24 for Moss Adams proposal for contract renewal for the FY22 audit is •contract extension with Moss Adams.Staff recommends the Board review
and consider for approval a •servicesAdams has provided a new proposal for audit Moss
•FISCAL IMPACTFISCAL IMPACT Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration for
a Professional Services Contract to will be budgeted as part of next budget cycle in fall of 2023.& FY25 expense years for FY23 and FY24 financial year audits FY24 •do not currently
forecast being fully incurred. proposal amount does include $7,000 of travel expenses, which we Moss Adams proposal of $61,600 is $4,435 or 8% greater. The The •$57,165. District’s
annual budget for FY23 audit service expense is The •$55,500.FY22 audit services for FY21 financial year were at contract price of •Summary (Amended and Restated Transaction Mesa Project
Red
a)RECOMMENDATIONRECOMMENDATION Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration
for a Professional Services Contract to auditing firm to conduct the District’s FY22 annual auditstaff to issue a request for proposals for a professional Direct b)orrespectfully;65,250
and $the yearly amount not to exceed $61,600, $63,950 annual audits in FY23 and FY24with Moss Adams for the FY22, Authorize the Board President to execute a three year contract
a)RECOMMENDATIONRECOMMENDATION Conduct the District’s FY2022 Annual AuditConsideration for a Professional Services Contract to Conduct the District’s FY2022 Annual AuditConsideration
for a Professional Services Contract to auditing firm to conduct the District’s FY22 annual auditstaff to issue a request for proposals for a professional Direct b)FY24; orexceed
$61,600, with an option to extend two years for FY23 and Adams to conduct the FY22 annual audit, in an amount not to Authorize the Board President to execute a contract with Moss