HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 10/07/2003 - RESOLUTION 2003-110 ESTABLISHING THE AUDITOR SELEC AGENDA ITEM SUMMARY ITEM NUMBER: 28
FORT COLLINS CITY COUNCIL DATE: October 7, 2003
STAFF: Steve Roy/
Alan Krcmarik
SUBJECT:
Resolution 2003-110 Establishing the Auditor Selection Process.
RECOMMENDATION:
Staff recommends adoption of the Resolution.
FINANCIAL IMPACT:
This resolution does not cause direct financial impact the City. Based on past audit contracts, staff
estimates that the annual contract cost of the Audit services is expected to be$40,000 to$70,000 for
the 2003 audit to be completed in 2004.
EXECUTIVE SUMMARY:
The City Charter requires that the Council provide for an independent audit of the City's financial
records each year. The Colorado Revised Statutes and audit principles prescribe that the audit should
be managed by the legislative body of the governmental organization. In applying these principles
to the City,the Council should be responsible for the selection of the auditor and the auditor should
report to the Council throughout the process. This resolution establishes the process, including
references to the City's purchasing guidelines and procedures, that the Council will follow in
selecting the auditor. In the past, the City Council Finance Committee has served as the Audit
Committee. For this selection process, the Council Leadership Team will be serving as the Audit
Committee.
RESOLUTION 2003-110
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ESTABLISHING THE AUDITOR SELECTION PROCESS
WHEREAS,under Title 29,Article 1,Section 6 of the Colorado Revised Statutes and Article
XX,Section 17 of the City Charter,the City Council is responsible for providing for an independent
annual audit; and
WHEREAS, the City's current auditor recently completed the last year of a five-year
contract; and
WHEREAS, Chapter 8, Article IV of the City Code establishes the procedures for the
procurement of all professional services; and
WHEREAS, historically, the Council Finance Committee participated in the selection
process for the independent auditor and made a recommendation to the Council regarding the
selection of the auditor; and
WHEREAS, the Council Finance Committee was abolished pursuant to Resolution 2002-
083; and
WHEREAS,Council believes that its Leadership Team,which consists of the Mayor and the
Mayor Pro Tem, is the appropriate body to participate in the selection process for the independent
auditor; and
WHEREAS,the procurement process detailed in the City Code ensures the fair treatment of
all persons involved in the process, maximizes the purchasing value of public funds and maintains
the quality and integrity of the procurement process; and
WHEREAS, the Council believes that the Leadership Team should assist the Council in
selecting the most qualified auditor, and should recommend such to Council, through the selection
process outlined in the City Code.
NOW,THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Leadership Team shall participate in the process of selecting a new
auditor.
Section 2. That,in participating in that process,the Leadership Team shall perform the
following functions as provided in Chapter 8, Article IV of the City Code:
1. Establish the factors to be evaluated in the selection of an auditor;
2. Carefully apply those criteria during the evaluation of proposals, using the
point system and rating sheet provided by the Purchasing Agent;
3. Supply the Purchasing Agent with the completed rating sheets, for retention
consistent with the City's Record Retention Policy;
4. Recommend to Council, for acceptance, the proposal that best fits the
evaluation factors listed in the request for proposal.
Passed and adopted at a regular meeting of the City Council held this 7th day of October,
A.D. 2003.
Mayor
ATTEST:
City Clerk