DATE: April 10, 2018
SUBJECT:
Title
RESOLUTION AUTHORIZING AMENDMENT NO. 3 WITH MACIAS GINI & OCONNELL, LLP FOR PROFESSIONAL EXTERNAL AUDITING SERVICES, INCREASING THE AGREEMENT AMOUNT BY $364,370 WHICH INCREASES THE TOTAL TO THE AGREEMENT FROM $517,214 TO $881,584 AND EXTENDING THE AGREEMENT FROM APRIL 30, 2018 TO APRIL 30, 2021 AND INCLUDING A REQUIREMENT FOR ROTATION OF THE ENGAGMENT PARTNER. FY 2018 EXPENDITURES, IF NEEDED, ARE BUDGETED. FUNDS REQUIRED FOR FUTURE FISCAL YEARS WILL BE BUDGETED IN THE APPROPRIATE FISCAL YEAR, SUBJECT TO BOARD APPROVAL UPON ADOPTION OF EACH FISCAL YEAR'S BUDGET
Body
EXECUTIVE SUMMARY:
In February 2013 the Office of the Port Auditor retained the firm of Macias Gini & O'Connell, LLP (MGO) for professional external auditing services. The agreement was for the financial and single audits covering fiscal years 2013, 2014 and 2015 with two options to extend the agreement at the sole discretion of the District. The original agreement was scheduled to terminate on April 30, 2016. On October 6, 2015 the Board exercised the first one-year option to extend the agreement with MGO from May 1, 2016 through April 30, 2017. This option covered the audit for fiscal year 2016. On October 13, 2016 the Board exercised the second option to extend the agreement from May 1, 2017 through April 30, 2018. This extension covered the audit for fiscal year 2017.
On June 15, 2017 the Audit Oversight Committee (Committee) met and recommended that the Board amend the agreement with MGO to extend the term from April 30, 2018 to April 30, 2021 and increase the maximum not-to-exceed amount covering the financial and single audits for fiscal years 2018, 2019 and 2020. The Committee also recommended that the amended agreement should include a requirement for rotation of the engagement partner in compliance with Government Code Section 12410.6 (AB1345).
RECOMMENDATION:
Recommendation
Adopt a resolution authorizing Amendment No. 3 with Macias...
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