Submitted By: Peter Brill
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Presentation By: Peter Brill
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Department: Finance
STAFF RECOMMENDATION (Motion Ready):
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Approve five-year agreement for the provision of professional audit and Annual Comprehensive Financial Report services with Purvis, Gray and Company, LLP in an amount not to exceed $748,600
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OCALA’S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable
PROOF OF PUBLICATION:
Request for Proposal Released to Public: 5/20/2024
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BACKGROUND:
The City of Ocala has contracted with the audit firm Purvis, Gray and Company, LLP for twenty years. The most recent audit covered the fiscal year ending September 30, 2023. City management decided it was important to open the selection process for audit and Annual Comprehensive Financial Report (ACFR) services to ensure competitiveness in the marketplace. Additionally, the Government Finance Officers Association recommends that governmental entities undergo a comprehensive competitive process when selecting independent auditors at the end of an audit contract.
FINDINGS AND CONCLUSIONS:
On March 16, 2010, the City Council established that it would serve as the Auditor Selection Committee and would be primarily responsible for appointing, compensating, retaining, and overseeing any independent accountants engaged in preparing or issuing independent audit reports or performing other independent audits, reviews, or attest services.
Section 218.391 of the Florida Statutes outlines the procedures required to be followed by the City for the selection of the independent certified accounting firm responsible for conducting the annual audit. On March 19, 2024, the City Council approved Request for Proposal (RFP) No. FIN/240274, which outlined the factors for evaluating the City's audit services and directed the Procurement and Contracting Department staff to advertise the RFP publicly.
RFP No. FIN/240274 was publicly advertised on March 20, 2024, and proposals were received from five (5) certified public accounting firms, namely:
• Carr, Riggs & Ingram, LLC
• James Moore & Co.
• Marcum, LLC
• Mauldin & Jenkins, LLC; and
• Purvis, Gray and Company, LLP
On June 3, 2024, the City Council met in its capacity as the Auditor Selection Committee to review and rank each proposal. The three highest-ranking firms were selected for oral presentations and final scoring, as follows:
The Auditor Selection Committee met on June 18, 2024, for an oral presentation and a question and answer session with the three firms. After the session, a final selection meeting was held where Auditor Selection Committee members scored and ranked each proposer as follows:
The Auditor Selection Committee authorized staff to negotiate and finalize the Agreement for Professional Audit and ACFR with the highest-ranked proposer, Purvis, Gray and Company, LLP.
FISCAL IMPACT:
Funds will be budgeted each fiscal year and be made available in account number 001-013-013-513-51-32010 for Audit Services and account number 001-013-013-513-51-31010 for ACFR Services
PROCUREMENT REVIEW:
These services were procured in compliance with the City’s Procurement Policy and section 218.391, Florida Statutes.
LEGAL REVIEW:
This Agreement will be reviewed and approved for form and legality by City Attorney, William E. Sexton.
ALTERNATIVE:
• Approve with Changes
• Table
• Deny