Submitted By
Steven Drazner, CFO
Reviewed By
LKS
Agenda Item Title
Title
A Resolution Approving the Renewal of a Professional Services Agreement for Auditing Services with Sikich LLP for the Optional Audit Year 2017 in an Amount not to Exceed $65,279
End
Overview
Overview
Pursuant to a 2013 Agreement with Sikich, audit services for the final optional year ending December 31, 2017 are set at $65,279 (excludes the Library’s portion).
Body
Staff Recommendation
Approve the Resolution.
Fiscal Impact
The total not-to-exceed fee for the 2017 audit is $65,279 which will be budgeted in Fiscal Year 2018.
Background
In 2013, the Village took competitive proposals for audit services with an option for a mulit-year engagement inclusive of 2017 audit services. Staff recommends that the contract be formally renewed for the 2017 audit with a not-to-exceed amount of $65,279. This fee includes the regular Village audit as well as mandatory audits of the police pension, firefighters’ pension, tax increment financing districts, and a single audit (required when Village spends at least $750,000 of Federal grant money).
Alternatives
Prepare RFP for auditing services
Previous Board Action
On November 18, 2013 the Village approved via Resolution 2013-R-219 a three year agreement with Sikich LLP to provide annual audit services for fiscal years 2013, 2014, and 2015 with two optional years for 2016 and 2017.
Citizen Advisory Commission Action
N/A
Anticipated Future Actions/Commitments
N/A
Intergovernmental Cooperation Opportunities
N/A
Performance Management (MAP) Alignment
N/A