Title
Resolution Designating Cherry Bekaert LLP as the Independent Auditor of the City of Hampton, Virginia for the Fiscal Years Ending June 30, 2017, and 2018 with an Option to Extend Contractually Through 2021; and Authorizing the City Manager to Execute a Contract with Cherry Bekaert LLP.
Purpose
PURPOSE/BACKGROUND:
The contract for annual auditing services between the City of Hampton and Cherry Bekaert LLP expired as of the issuance of their report on the City's Comprehensive Annual Financial Report (CAFR) for fiscal year ended June 30, 2016. State law requires the City to appoint independent auditors to audit and render an opinion of the City's CAFR.
A Request for Proposals for audit services was issued by the City and three (3) firms responded. A committee appointed by the City Manager reviewed and evaluated the proposals. The committee consisted of the following members:
James A. Peterson, Assistant City Manager
Karl Daughtrey, Director of Finance
Brian DeProfio, Director of Budget and Strategic Initiatives
Terri Tennessee, Internal Audit Manager
Lynne Fahnert, Treasurer
Suzanna Scott, Deputy Superintendent, Hampton City Schools
Vizel Townsend, Director of Business and Finance, Hampton City Schools
The committee's recommendation has been provided to the City Manager who recommends appointment of the selected firm by city Council.
Discussion:
The submitted proposals are on file in the Finance Department.
The audit cost for the current year (this includes the audit for the City, School Board, Hampton Employees' Retirement System and Hampton Roads Criminal Justice Training Academy):
FY2017 - $217,215
Cost in prior years (these include the audit for the City, School Board, Hampton Employees' Retirement System and Hampton Roads Criminal Justice Training Academy):
FY2016 - $217,215
FY2015 - $214,905
FY2014 - $212,615
FY2013 - $210,355
Recommendation:
Rec
City Manager and staff recommends that Council designate Cherry Bekaert LLP as the Independent Auditor for the City of Hampton for the prescribed contractural period.
Body
WHEREAS, the audit contract with Cherry Bekaert LLP expired with the completion of the audit for the fiscal year ended June 30, 2016;
WHEREAS, the City Manager appointed a committee to review the responses to a Request for Proposals for auditing services; and
WHEREAS, the committee interviewed the respondents and determined Cherry Bekaert LLP to be the most qualified firm, and a fee for services for the audit for the fiscal year ending June 30, 2017 has been mutually agreed upon.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HAMPTON, VIRGINIA that it appoints Cherry Bekaert LLP as the Independent Auditors for the City of Hampton, Virginia for the fiscal years ending June 30, 2017 and 2018 with an option to extend contractually through 2021.
BE IT FURTHER RESOLVED BY THE COUNCIL OF THE CITY OF HAMPTON, VIRGINIA that it hereby authorizes the City Manager to execute a contract with Cherry Bekaert LLP for these purposes.
Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on June 14, 2017.