Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Execute An Agreement With Marcum, LLP To Provide Financial Auditing Services In An Estimated Total Amount Of $674,250.00 Over A Three Year Period
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the Attached Resolution.
Explanation:
The Financial Services Department desires to contract with a certified public accounting firm to audit the City’s financial statements for the fiscal years ending September 30, 2021 through 2023 (“Financial Auditing Services”).
Florida Statutes, Section 218.391, establishes auditor selection procedures for local governments, including guidelines for establishing an auditor selection committee for the purpose of assisting the governing body in selecting an auditor to conduct the annual financial audit required by State Statutes.
On January 20, 2021, an Auditor Selection Committee was established by Resolution No. R-2021-016 that consisted of all members of the City Commission.
On February 3, 2021, the Auditor Selection Committee approved the factors for the evaluation and selection of an auditor in compliance with State Statutes (“Evaluation Criteria”).
On March 11, 2021, Request for Proposals Number 4667-21-SS for Financial Auditing Services (“RFP”) was electronically advertised via BidSync in accordance with the City’s Code of Ordinances, Section 38.43(A) and closed on April 22, 2021.
The RFP resulted in proposals from the following five (5) firms:
Caballero, Fierman, Llerena & Garcia, LLP (Miramar, Florida)
Keefe McCullough (Fort Lauderdale, Florida)
Marcum, LLP (Fort Lauderdale, Florida)
RSM US LLP (Fort Lauderdale, Florida)
S. Davis & Associates, P.A. (Hollywood, Florida)
On May 19, 2021, the Auditor Selection Committee met to evaluate and rank the proposals. Evaluation of the proposals was based upon the approved Evaluation Criteria as established in the RFP: Firm Qualifications and Experience, Partner Supervisory and Staff Qualifications and Experience, Similar Engagements with Other Governmental Entities and Specific Audit Approach.
Based on the evaluation criteria, the Auditor Selection Committee evaluated the five proposals and the scores were compiled to arrive at the following rankings, with the highest score being the highest ranked:
1. S. Davis & Associates, P.A. 93 Points
2. Marcum, LLP 91 Points
3. Caballero, Fierman, Llerena & Garcia, LLP 88 Points
4. RSM US, LLP 86 Points
5. Keefe McCullough 83 Points
The top three ranked firms were shortlisted and invited to provide oral presentations for further consideration by the Auditor Selection Committee in its evaluation and selection of a firm to provide Financial Auditing Services.
On June 9, 2021, oral presentations were provided by the three shortlisted firms, followed by a public Auditor Selection Committee meeting during which the Auditor Selection Committee ranked the shortlisted firms. Scores were compiled to arrive at the following rankings, with the lowest score being the highest ranked:
1. Marcum, LLP 9 Points
2. S. Davis & Associates, P.A. 12 Points
3. Caballero, Fierman, Llerena & Garcia, LLP 21 Points
The Auditor Selection Committee recommends that the City Commission authorize the negotiation and execution of an agreement with the highest ranked firm, Marcum, LLP, for a term of three years, with an option to renew for two additional two-year periods to provide Financial Auditing Services.
Award is subject to the City receiving all insurance documents and endorsements required by the City’s Risk Manager, along with Hold Harmless and Indemnity provisions to the City.
Fiscal Impact:
Funding for this agreement will be budgeted in subsequent fiscal years in the following account numbers subject to approval and adoption by the City Commission.
001.120201.51300.532400.000000.000.000
442.400301.53600.532400.000000.000.000
445.520101.53400.532400.000000.000.000
446.150101.54500.532400.000000.000.000
443.510101.53800.532400.000000.000.000
444.310101.57200.532400.000000.000.000
460.111003.57300.532400.000000.000.000
557.510101.51900.532400.000000.000.000
558.112004.51900.532400.000000.000.000
Recommended for inclusion on the agenda by:
Steve Stewart, Assistant Director of Financial Services for Procurement
David E. Keller, Fiscal Affairs Special Project Manager
Melissa Cruz, Director, Financial Services
Adam Reichbach, Assistant City Manager, Finance & Administration