HomeMy WebLinkAboutDocumentation_Workshop_Tab 04_3/2/2020Agenda Item #4.
Workshop
STAFF MEMO
Meeting: Workshop - Mar 02 2020
Staff Contact: Hugh Dunkley, Finance Director
Discussion on External Auditor Selection Committee
Department: Finance
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Discussion on manner of appointment and overall process for selecting independent CPA firm to
perform the Village's annual financial audit
Each Council Member to consider nominating one individual to serve on Auditor Selection
Committee, pending formal action at April 9th regular Council meeting.
auditor selection wshop memo march 2 2020 ADA
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Agenda Item #4.
Memorandum
To: The Honorable Mayor Abby Brennan, Vice Mayor Kristi Johnson and Members of
the Village Council
THRU: Jeremy Allen, Village Manager
FROM: Hugh B. Dunkley, Finance Director
DATE: February 21, 2020
SUBJECT: Selection of Independent CPA Firm for Annual Audit
The current auditing contract with the CPA firm of Marcum LLP will expire after the Fiscal Year
2019 audit is completed. Section 218.391, Florida Statutes, requires that each local governmental
entity, district school board, charter school, or charter technical career center, prior to entering
into a written contract with an external auditor, use specified auditor selection procedures when
selecting an auditor to conduct the annual financial audit. The auditor selection procedures
referenced above provides, in part, for the following:
1. That the Village Council establish an auditor selection committee;
2. That the Committee consist of at least three members;
3. One member of the Committee must be a member of the Village Council and shall serve
as chair of the Committee; and
4. An employee, the Village Manager, or the chief financial officer [Finance Director] of the
Village may not serve as a member of an auditor selection committee; however, an
employee, the Village manager, or the Finance Director of the Village may serve in an
advisory capacity.
The Committee will be ad hoc in nature and the primary purpose of the Committee will be to (a)
establish factors to be used for the evaluation of audit services to be provided by a certified public
accounting firm; (b) evaluate proposals provided by qualified firms; and (c) rank and recommend
in order of preference no fewer than three firms deemed to be the most highly qualified to perform
the required services.
Staff recommends that each member of the Council might appoint one member of the Audit
Selection Committee. The Council member that is ultimately chosen as the chairperson of the
Committee would be excluded from appointing his/her selection. This will enable five (5)
members to serve on the Committee, which meets the statutory requirement of at least three (3)
members.
Staff has attached herein a graphic of the typical auditor selection process.
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Agenda Item #4.
VILLAGE OF TEQUESTA, FL
EXTERNAL AUDITOR SELECTION PROCESS
Approvalof Committee Members
. Apr9
Council Mtg to Approve
Worksho with Council Release of RFP RFPSubmission Deadline .To Ranked Firm
Mart P I0-M.Ya 0-Jun 12 Aug 13
2020
Audit Committee Mtg - -Pl. - Apr 30
RFP Response Period M.ayg - Jun 12
Audit Committee Evaluation Mtg - Jun 15- Jun 26
Oral Pre se ntation s before Committee - Jun 29 - Ju 11.0
2020
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