HomeMy WebLinkAboutItem 10 Contract Extension for Audit Services AGENDA ITEM SUMMARY Meeting Date: 4/16/2012
Meeting Type:Regular Meeting
Staff Contact/Dept.: Nathan Bell/Finance
Staff Phone No: 726-2364
Estimated Time: Consent Calendar
S P R I N G F I E L D
C I T Y C O U N C I L
Council Goals: Financially Responsible
and Stable Government
Services
ITEM TITLE:
CONTRACT EXTENSION FOR AUDIT SERVICES
ACTION
REQUESTED:
Approve the extension of the contract with Grove, Mueller & Swank, PC for audit
services for the City of Springfield, Springfield Economic Development Agency,
Metropolitan Wastewater Management Commission, and Regional Fiber
Consortium for the fiscal year ending June 30, 2012.
ISSUE
STATEMENT:
The audit contract with Grove, Mueller & Swank, PC expires on April 21, 2012.
Council approval is required to extend the contract to cover the fiscal year ending
June 30, 2012.
ATTACHMENTS:
1) Audit Contract Amendment
DISCUSSION/
FINANCIAL
IMPACT:
It has been the City’s policy to award contracts for audit services for a period of
three years with the option of an additional two one-year extensions. The original
contract and the first extension with Grove, Mueller, & Swank, PC covered the
fiscal years ending June 30, 2008 through June 30, 2011. We are recommending
that Council exercise the second and final one-year extension based on the firm’s
satisfactory job performance over the previous contract period. This extension will
expire April 16, 2013.
The total contract cost for the audit of the fiscal year ending June 30, 2012 is
$48,000. This is an increase of $3,000 (6.7%) over the previous year. While this
increase is significantly larger when compared to prior years, the overall cost of the
audit is reasonable in consideration of the increase in auditing requirements for
organizations receiving Federal funds.