DATE: March 2, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Russell Truell, Assistant City Administrator / CFO
Mike Lowe, Comptroller
Brian Wilcox, Purchasing Manager
SUBJECT:
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Consideration Of Contract Award For Financial And Compliance Auditing Services For The Conference Center At Cool Springs For The Fiscal Year Ending June 30, 2015, With Up To Four (4) Additional Consecutive One-Year Optional Renewals For Fees Established At The Time Of The Initial Proposal, For A Maximum Possible Term Of Award Of Auditing Five (5) Fiscal Years Total (Purchasing Office Procurement Solicitation No. 2015-021; To Be Budgeted In Future Fiscal Year Budgets; Contract No. 2015-0061); (03/12/15 Finance 3-0)
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Purpose
The purpose of this procurement is to purchase financial and compliance auditing services for the Conference Center at Cool Springs. The services to be rendered pursuant to this procurement solicitation are to be offered for the fiscal year ending June 30, 2015. At any time after commencement but before or as soon as practicable after the completion of the scope of work, the City and the vendor may exercise an option to extend the term of award up to four (4) times, each time for the audit of one (1) additional fiscal year, for a maximum possible term of award of auditing five (5) fiscal years total.
Background
As the Conference Center is jointly owned by the City and Williamson County, each fiscal year, the City and the County budget monies adequate to procure annual financial and compliance auditing services for the Conference Center at Cool Springs. The purpose of this procurement is to comply with state law requiring an annual audit for this operation. The City and the County evenly split the cost of the audit. Note that the majority of the cost of each annual audit is incurred during and paid by the budget for the first fiscal year immediately following the fiscal year being audited.
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