Board Agenda - April 03, 2007
1. #2007-006, Annual financial audit services
Presenter: Richard Matkin
Purpose: A - Request decision - closure required
Time: No time limit
Description:
Proposals for the following services were advertised, received, and opened by the Purchasing Services Department. The appropriate department has evaluated all proposals and forwarded their recommendation to the Purchasing Services Department to be reviewed for compliance with Educational Code 44.031 and School Board Policy.
This is a proposal that will establish an approved vendor for annual financial audit services for a five year period that is subject to annual approval. The estimated cost for the initial year is $90,250.
Staff has completed an assessment of the qualified audit firms who submitted proposals to provide annual financial audit services to the District. Qualified proposals were received from two firms: (1) Deloitte & Touche; and (2) Weaver and Tidwell. The primary review team was composed of Dan Clark, Internal Auditor, Christie Tate, Accounting & Budget Manager, Kathy Waskow, Construction and Special Revenue Manager and Linda Madon, Executive Director of Finance.
After reviewing all factors, the administrative staff met with the Board of Trustees Audit Committee to discuss both proposals. The Audit Committee agreed with the Administrative staff that Weaver and Tidwell submitted a proposal that best meets the needs of the District. Attached is the engagement letter submitted by Weaver and Tidwell for the Board's acceptance.
Recommendation:
The Administration and Audit Committee recommend that Weaver and Tidwell, L.L.P. be approved as the District's annual financial audit firm and the corresponding engagement letter is accepted as submitted.
Business Impact:
Estimated Value: $90,250.00
Budget/Financial Implication: Operating Budgets
Evaluation Criteria: Vendor Reputation; Vendor's Past Relationship with the District;
Quality of Vendor's Service and Goods;
Best Meets the Needs of the District
Summary:
Appendix:
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