DATE: January 11, 2022
SUBJECT:
Title
RESOLUTION SELECTING AND AUTHORIZING AN AGREEMENT WITH MOSS ADAMS FOR PROFESSIONAL EXTERNAL AUDITING SERVICES FOR AN AMOUNT NOT TO EXCEED $398,000 FOR THE AUDIT OF FISCAL YEARS 2022, 2023, AND 2024 WITH TWO ONE-YEAR OPTIONS TO EXTEND, WHICH MAY BE GRANTED AT THE SOLE DISCRETION OF THE DISTRICT FOR AN AMOUNT NOT TO EXCEED $128,500 PER YEAR, FOR A TOTAL NOT-TO-EXCEED AMOUNT, INCLUDING OPTIONS, OF $655,000. FUNDS FOR THIS FISCAL YEAR ARE BUDGETED, FUNDS FOR FUTURE FISCAL YEARS WILL BE BUDGETED IN THE OFFICE OF THE PORT AUDITOR IN THE APPROPRIATE FISCAL YEARS, SUBJECT TO BOARD APPROVAL UPON ADOPTION OF EACH FISCAL YEAR'S BUDGET.
Body
EXECUTIVE SUMMARY:
On November 30, 2020, Port staff advised the Audit Oversight Committee (Committee) that the District's current agreement with external auditor Macias, Gini, & O'Connell (MGO) was to expire on April 30, 2021. The Committee recommended that the Board extend the agreement with MGO for one year, through April 30, 2022, due to potential complications with orienting a new external auditor stemming from COVID-19. The Board authorized Amendment No. 4 and the agreement was extended for one year.
On July 12, 2021 the District issued a Request for Proposal (RFP) in accordance with Board of Port Commissioners Policy No. 110 for annual external audit services. The scope of service includes the annual audit of the Port's financial statements and a single audit under OMB Circular A-133. The Port received submittals from 7 firms, of which 4 were invited for interviews. A staff evaluation panel ranked the firms according to the criteria established in the RFP. Based on the evaluation, staff selected Moss Adams for recommendation to the Committee.
On December 7, 2021 the Committee met and agreed with the evaluation results. The Committee is now recommending that the Board select and authorize an agreement with Moss Adams as the District's external auditor for the Audit of fiscal years 202...
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