DATE: January 9, 2020
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Kristine Brock, Assistant City Administrator / CFO
Mike Lowe, Comptroller
Brian Wilcox, Purchasing Manager
SUBJECT:
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Consideration Of Resolution 2019-132, A Resolution Authorizing The Use Of The Competitive Sealed Proposal Procurement Method For The Performance Of The Annual Financial Audit Of (1) The City Of Franklin And (2) The Cool Springs Conference Center In Accordance With The Laws And Requirements Of The State Of Tennessee, For The Finance Department. (Finance 1/09/20, 3-0)
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Purpose
The purpose of this resolution is to authorize the use of the competitive sealed proposal procurement method for choosing an audit firm or firms for the performance of the annual financial audit of (1) the City of Franklin and (2) the Cool Springs Conference Center, for the Finance Department.
Background
Tennessee law requires an annual audit of the City and the Conference Center. It also prohibits use of bidding as a method of procurement for audits. City ordinance requires the Board of Mayor and Aldermen to authorize use of the competitive sealed proposal procurement method for choosing suppliers and service providers.
In accordance with State law and City ordinance, qualifications, experience, and competence are more important than price in making the selection of the audit firm or firms.
Financial Impact
The financial impact of the procurement remains to be determined.
Recommendation
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Staff recommends that the Board of Mayor and Aldermen approve Resolution No. 2019-132.