DATE: February 11, 2016
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Russell Truell, Assistant City Administrator/CFO
Mike Lowe, Comptroller
SUBJECT:
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Consideration of Resolution 2016-09, A Resolution To Provide Authority To City Administrator To Execute Audit Contracts For The Cool Springs Conference Center To Be In Final Form Once Signed By City Administrator: DRAFT Consideration Of Contract Number 2016-0026 with Crosslin & Associates for Financial And Compliance Auditing Services For The Cool Springs Conference Center For The Fiscal Year Ending June 30, 2016 (02-11-16 Finance 4-0)
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the required annual financial and compliance audit for the Cool Springs Conference Center.
Background
If approved, the 2016 audit would be the sixth (6) time Crosslin and Associates has performed the Conference Center’s audit. Excluding the 2016 audit, Crosslin would have 3 potential additional years (2017, 2018, and 2019) under the current RFP award.
Financial Impact
Per the RFP award, the fee for the 2016 audit would be $12,900. The Conference Center pays for the audit through its operations (resulting in the City and the County evenly splitting the cost as the Conference Center’s co-owners).
Recommendation
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Staff recommends the annual audit contract with Crosslin and Associates.