HomeMy WebLinkAboutItem 15 - Audit ServicesMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: JULY 19, 2022
SUBJECT: AWARD OF REQUEST FOR PROPOSALS FOR AUDIT SERVICES
RECOMMENDATION: City Council to consider approval for the award of Request for Proposals
for an annual contract for RFP 513-2022 for audit services with FORVIS.
FUNDING SOURCE: Funds are available in the participating funds for an estimated amount of
$105,000.
BACKGROUND: The purpose of this bid was to evaluate audit firms to perform the City's
annual financial audit and assist in preparation of the Annual
Comprehensive Financial Report.
The City of Grapevine solicited a Request for Proposal in accordance with
Local Government Code Chapter 252, Subchapter B, Section 252.021 (a)
and Section 252.041 (a). The bid advertisement was advertised in the Fort
Worth Star Telegram on May 31, 2022 and June 7, 2022. There were 90
vendors electronically notified of the bid through the eBid system. Five
vendors viewed and downloaded the RFP and three bids were received.
The bid was opened electronically and publicly on June 23 at 2 pm.
On July 5, 2022 the Audit Committee and staff interviewed all three firms,
and it was determined that FORVIS offered the best service to the City.
The contract will be for an initial three-year period with two, one-year
renewal options.
FORVIS is a national firm that employs hundreds of professionals who
spend more than 50% of their billable hours servicing clients in the
nonprofit, governmental and higher education industry. The City's audit
services will be performed primarily by personnel based in the Dallas
office. The proposed audit segmentation will be:
- Risk assessment procedures, including meetings with officials and staff,
preliminary analytics, review minutes, and design audit procedures based
on assessed risks
- Document and evaluate internal controls
- Obtain financial policies and procedures, bond documents, leases and
grants, as well as other items for our permanent file
- Substantive procedures and analytical review techniques
- Prepare Annual Comprehensive Financial Report to submit to GFOA for
Certificate of Achievement
- Single audit testing and procedures
- Supervision, review and technical assistance
- Client conferences and meetings to review audit reports
- Reporting to governance
The Audit Committee and staff recommend approval.
is/LW