HomeMy WebLinkAboutDocumentation_Regular_Tab 8F_10/11/2001 :FE. (F.)
OO a , OR- AD'
DATE: OCTOBER 5,2001
TO: MICHAEL COUZZO,VILLAGE MANAGER
FROM: JOANN FORSYTHE,FINANCE DIRECTOR (
RE: STAFF RECOMMENDATION FOR SELECTION-OF FINANCIAL AUDITING FIRM
FOR F/Y/E 9/30/2001,2002, 2003
Staff Recommendation: Staff recommends hiring the firm of Rachlin, Cohen and Holtz LLP to audit
the general purpose financial statements of the Village for the fiscal years ending September 30, 2001, 2002
and 2003 with an option to renew for two subsequent years(2004 and 2005)at the mutual agreement of both
the Village and Rachlin, Cohen and Holtz LLP.
On July 30, 2001 the Village of Tequesta sent out requests for proposals from qualified firms of
certified public accountant to audit its financial statements for the fiscal year ending September 30,
2001, 2002 and 2003 with the option of extending the contract for an additional two subsequent
fiscal years.
The following three firms replied: Rachlin, Cohen&Holtz LLP
Haas,Diaz&Company
Grau &Company,P.A.
A staff committee was formed to review the written proposals, attend presentations and rate the
firms. Staff members were JoAnn Forsythe, Finance Director; Stephen J. Allison, Chief of Police;
and Daniel Gallagher, Project Accountant. The staff independently and unanimously selected
Rachlin, Cohen&Holtz LLP as their first choice. Following are some of the reasons presented:
• The firm exhibited a depth of experience in the municipal sector
o Displayed extensive municipal and special districts audit clientele.
• The firm has the resources to adequately staff the audit
o Staff of 183 persons with 77 CPA's and experience governmental staff of 38.
• The firm has the experience to aid the Village in implementing Governmental
Accounting Standards Board Statement No. 34, Basic Financial Statements — and
Management's Discussion and Analysis—For State and Local Governments.
• Offer a broad spectrum of municipal consulting services including;
o Bond financing
o Utility rate studies
o Computer systems
• Conducts educational seminars including governmental and financial reporting systems,
which will be available to Village staff.
10/9/0111:03 AM
2/8/01 INTERDEPARTMENTAL MEMO
• Presented a straightforward audit plan.
• Rachlin, Cohen & Holtz LLP demonstrated that they are willing to dedicate the time
and flexibility of schedule to work with the Village to perform this year's audit.
Fees for services are as follows:
2001 $36,000
2002 $38,000
2003 $41,000
It should be noted that the fees for F/Y/E 09/30/2001 are $2,300 less than the fees that would
have been charged by the Village's former auditing firm.
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