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The City Commission passed and adopted Resolution 2010-1594 <br /> establishing an audit committee on July 15, 2010 and ratified and <br /> confirmed its decision by adopting Resolution 2015-2464 on <br /> September 17, 2015. <br /> The audit committee, comprised of the City Manager, Finance Director <br /> and Assistant Finance Director, prepared and issued RFP 15-12-01 for <br /> Professional Auditing Services. The bid was advertised in the Miami <br /> Daily Business Review on December 4, 2015. In addition, the RFP <br /> solicitation package was made available on www.demandstar.com. <br /> On December 30, 2015 the City received seven proposals. Pursuant to <br /> 218.391, F.S. the proposals were reviewed by the audit committee at a <br /> publicly noticed meeting on February 11, 2016, and on March 8, 2016. <br /> The audit committee's ranking of audit firms in order of preference (with <br /> 1. being the most qualified): <br /> 1. Moore, Stephens, Lovelace CPA's <br /> 2. Grau &Associates <br /> 3. Marcum LLP <br /> Based on the foregoing, the audit committee requests that the City <br /> Commission approve the attached resolution.Assuming adoption of the <br /> attached resolution by the commission, staff shall negotiate a contract <br /> with the firm ranked first. If staff is unable to negotiate a satisfactory <br /> contract with that firm, negotiations with that firm shall be formally <br /> terminated, and staff shall then undertake negotiations with the second- <br /> ranked firm. If staff is unable to negotiate a satisfactory contract with <br /> that firm, negotiations with that firm shall be formally terminated, and <br /> staff shall then undertake negotiations with the third-ranked firm. If staff <br /> is unable to negotiate a satisfactory contract with that firm, negotiations <br /> with that firm shall be formally terminated, and staff can reopen <br /> negotiations with the other firm. Only one firm can be in negotiations at a <br /> time. <br /> If the Commission approves the resolution, and authorizes staff to <br /> negotiate with the first ranked firm, as required by City Charter we shall <br /> be required to have a performance evaluation of Moore, Stephens, <br /> Lovelace CPA's by an independent committee before finalization of the <br /> newly negotiated contract. City Charter requires a performance <br /> evaluation for a continuing auditor every three years. <br /> The City Manager is requesting authority to execute the contract for the <br /> initial year (i.e. audit of the 2015-16 financial records) without further <br /> action by the City Commission upon successful completion of such <br /> performance review. - <br /> ADDITIONAL INFORMATION: <br /> • <br /> 69 <br />