Agenda Date: 04/21/2025
Subject:
Title
Motion to approve a contract (Engagement Letter) with Plante Moran for the 2025 Fiscal Year Audit
Body
From:
James L. Becklenberg, City Manager
Prepared by:
Laurie Matta, Finance Director
Presentations:
N/A
PURPOSE:
Per Littleton's City Charter Section 33, the city is required to engage with council in the selection of certified public accountants to conduct an annual audit every five years. This motion is to approve a contract with Plante Moran for the 2025 Fiscal Year audit.
LONG-TERM OUTCOME(S) SERVED:
High-Quality Governance
DISCUSSION:
Per city charter Section 33, the city council selects certified public accountants to conduct an annual audit. The same accountants shall not serve more than five consecutive years. Plante Moran was selected through a competitive procurement process in 2023 to be the City's auditing firm. The master agreement with Plante Moran anticipates the firm's services on the annual audit for five years, 2023 through 2028, and requires that on an annual basis, staff will request council reaffirm the audit contract (engagement letter) with Plante Moran.
BACKGROUND:
Per city charter Section 33, the city council selects certified public accountants to conduct an annual audit. The same accountants shall not serve more than five consecutive years. In 2023, the city issued a Request for Proposals (RFP) for the selection of a new auditing firm, and Mayor Schlachter and then Mayor Pro Tem Barr assisted staff in reviewing the RFPs and the interview process. Plante Moran was recommended by the review committee.
Prior Actions or Discussions
N/A
FISCAL IMPACTS:
Plante Moran's fees for the 2023 audit was $109,000 (which includes a single audit with two programs), and the fees for the 2024 audit were $113,400. The fees for 2025 are planned to be $117,900 which includes the single audit. It is anticipated that the audit fee will increase by approximately 4% annually over the next 4 years. ...
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