Label
2019 Annual Audit: Auditor of State
Finance Department
Thomas Buckley (x1602)
(Revised)
Title
Authorizing the mayor to contract with the Auditor of State for the 2019 annual audit for the City’s accounting and financial records; authorizing the expenditure in an amount not to exceed $180,000 from the General Fund; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City of Toledo is required to have annual audits conducted on their accounting and financial records by the Auditor of State. Generally, the Auditor of State directs the City to contract with a third party auditor to conduct this Audit and the City contracted for three years with the auditing firm of Clark Schaeffer Hackett (CSH). (see Ord. 214-15 authorizing agreement with CSH through 2018). However, in 2017 the Auditor of State terminated the contract with CSH and instead opted to undertake the audit in-house. As a result, the City engaged the Auditor of State to conduct the audit of FYs 2017 and 2018 (see Ord. 364-17). The Auditor of State now wishes to continue this arrangement for a third year. It is estimated that the cost of the audit will be approximately the same as in prior years. A copy of the proposed engagement letter is attached as Exhibit A.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $180,000
- The expenditure budget line item: 1001-14600-1134001STDSTD
- New revenue generated (operational revenue, grants, if any): none
- Revenue budget line item (if any): none
- Are funds budgeted in the current fiscal year (yes/no)? yes
- Is this a capital project (yes/no)? no
- If yes, is it new or existing (new/existing)? n/a
- What section of the City’s Strategic Plan does this support:
o Excellence in Basic Services (yes/no) yes
o Quality Community Investment (Livable City, Development) (yes/no) no
o Workplace Culture & Customer Service (yes/no) yes
o Environment (yes/no) no
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the mayor is authorized to execute an Engagement Letter with the Auditor of State for the purpose of conducting the 2019 annual audit of the City’s accounting and financial records.
SECTION 2. That an amount not to exceed $180,000 is authorized for expenditure from the General Fund, Account Code 1001-14600-1134001STDSTD, for the purpose listed in Section 1.
SECTION 3. That the Director of Finance is authorized to draw his warrant or warrants against the above referenced account code in an amount not to exceed $180,000 in payment of the above authorized obligations upon presentation of the proper voucher or vouchers.
SECTION 4. That this Ordinance is declared to be an emergency measure and shall be in force and effect from and after its passage. The reason for the emergency lies in the fact that the same is necessary for the immediate preservation of the public peace, health, safety and property and for the further reason that the Ordinance must be immediately effective to facilitate the audit of the City’s accounting and financial records.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council