TITLE
Consider a memorandum/resolution appointing an independent auditor for the fiscal year ending September 30, 2015.
SUMMARY
AGENDA ITEM
Appointing the independent audit firm, Weaver LLP, for the fiscal year ending September 30, 2015, audit.
ORIGINATING DEPARTMENT
City Auditor
BACKGROUND INFORMATION
The City Charter states that the Council shall designate qualified public accountants to conduct an independent audit of all City accounts and other evidences of financial transactions of the City government and submit their report to the Council. Additionally, Texas Local Government Code requires an annual audit of municipal finances to be performed by a qualified certified public accountant.
DISCUSSION/CONCLUSION
The City's audits are required to be performed in accordance with generally accepted auditing standards, the standards set forth in the General Accounting Office's (GAO) Government Auditing Standards, the provisions of the Single Audit Act Amendments of 1996, the U.S. Office of Management and Budget (OMB) Circular A-133, and Audits of State and Local Governments.
In July 2012, the City issued a request for proposals for independent audit services for the fiscal years ended September 30, 2012 and 2013, with a renewal option for three additional years. The qualified public accounting firm that was appointed by Council at that time was Weaver LLP. Weaver LLP has conducted the City's audit for the fiscal years ended September 30, 2012, 2013, and 2014 in accordance with the applicable standards and presented the City Council with quality audits of the City's finances in a timely manner. Their examinations of the City's financial records were thorough and their service fees were fair. They were available for meetings and discussions with City personnel concerning accounting issues, and they were willing to answer questions and provide financial guidance when requested. The firm employs a governmental audit...
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