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 o...
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