DATE: March 9, 2017
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Kristine Tallent, Assistant City Administrator/CFO
Mike Lowe, Comptroller
SUBJECT:
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Consideration of Annual Audit Contract 2017-0056 with Crosslin and Associates for the Cool Springs Conference Center for Fiscal Year 2017 to be Executed by City Administrator per Resolution 2016-09 (03/09/17 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
Resolution 2016-09 provided authority to the City Administrator to execute audit contracts for the Conference Center. The 2017 audit would be the seventh (7th) time Crosslin and Associates has performed the Conference Center’s audit. Excluding the 2017 audit, Crosslin would have 2 potential additional years (2018, and 2019) under the current RFP award.
Financial Impact
Per the RFP award, the fee for the 2017 audit would be $13,400. (The 2016 amount was $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 execution of the contract by the City Administrator. .
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