Submitted By: Daphne Robinson
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Presentation By: Daphne Robinson
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Department: Procurement and Contracting
STAFF RECOMMENDATION (Motion Ready):
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Review and approve draft Request for Proposals for Audit and Annual Comprehensive Financial Report Services
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OCALA'S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable
PROOF OF PUBLICATION:
n/a
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BACKGROUND:
Pursuant to section 218.39, Florida Statutes, the City of Ocala (City) is required to have an annual financial audit of its accounts and records completed by an independent certified public accounting firm retained by the City and paid from its public funds.
Section 218.391, Florida Statutes, establishes the procedures required to be followed by the City for the selection of the independent certified accounting firm tasked with performing the annual audit. An independent auditor must be engaged no later than October 1, 2024, to comply with audit requirements and financial reporting deadlines.
On March 16, 2010, City Council established that City Council would serve as the Auditor Selection Committee and be primarily responsible for the appointment, compensation, retention, and oversight of any independent accountants engaged for the purpose of preparing or issuing independent audit reports or performing other independent audits, review, or attest services.
To fulfill the purpose of selecting an auditor to conduct the financial audit required by law, section 218.391(3), Florida Statutes, outlines the duties of the Auditor Selection Committee to include:
(a) Establishing the factors to be used for the evaluation of audit services to be provided by an auditing firm including, but not limited to, ability of personnel, experience, ability to furnish the required services, and such other factors as may be determined by the Committee to be applicable to its particular requirements.
(b) Publicly announcing the Request for Proposals (RFP) soliciting auditing firms
(c) Providing inter...
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