HomeMy WebLinkAbout08. Review draft Position Paper request approval of a one-year extension of the existing contract for audit services with Maze & Associates 8m
Central San
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BOARD OF DIRECTORS
POSITION PAPER
Board Meeting Date: April 6, 2017
Subject: APPROVE EXTENDING THE CONTRACT FOR ANNUAL FINANCIAL
AUDIT SERVICES WITH MAZE & ASSOCIATES FOR A FIFTH YEAR
Submitted By: Initiating Dept./Div.:
Thea Vassallo Administration/Finance
Finance Manager
REVIEWED AND RECOMMENDED FOR BOARD A CTION.-
P. Leber- Director of Finance and Administration
Roger S. Bailey
General Manager
ISSUE: Board approval is being sought to extend the current audit contract with Maze
& Associates, Certified Public Accountants, for a fifth year so Maze can perform the
Fiscal Year (FY) 2016-17 financial statement audit.
BACKGROUND: In June 2013,, the Board authorized execution of a professional
services agreement with Maze & Associates to perform financial audit services for four
years (FY 2012-13 through FY 2015-16). The contract allows for an optional one-year
extension. Staff recommends extension of the contract with Maze & Associates for a
fifth year to enable them to perform the FY 2016-17 financial audit.
ALTERNATIVES/CO NS1 DE RATIONS: Staff could seek a request for proposal, but that
is not recommend for this fiscal year because it would likely result in a higher cost for
the services and could possibly delay the audit schedule.
FINANCIAL IMPACTS: The current agreed upon price was $29,583 for FY 2015-16
audit services; Maze & Associates is requesting a 5.1% increase for FY 2016-17, which
would increase the price to $31,092.
COMMITTEE RECOMMENDATION: The Finance Committee reviewed this matter at
its meeting held March 28, 2017 and recommended that the Board approve the
proposed one-year extension for FY 2016-17.
RECOMMENDED BOARD ACTION: Approve a one-year extension of the existing
contract with Maze & Associates authorizing them to serve as Central San's
independent auditor for FY 2016-17.
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