SUBJECT/RECOMMENDATION:
Title
Approve agreement for professional external audit services for five fiscal years ending September 30, 2025, through 2029, with the accounting/auditing firm of Cherry Bekaert, LLP, for a not-to-exceed amount of $825,000.00 pursuant to RFP 32-25 and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
The City employed the accounting/auditing firm of Carr, Riggs & Ingram, LLC for external auditing services for the five fiscal years ending September 30, 2020, through 2024. Per City Charter, Article II, Section 2.01(c)(3), the City cannot employ an external audit firm for more than five consecutive years.
The City solicited proposals for external auditing services from qualified firms per Request for Proposal 32-25 issued April 23, 2025. Six firms submitted proposals that were reviewed and ranked by the City’s Auditor Selection Committee, consisting of Councilmember Mike Mannino and two citizens who were appointed by Council.
The RFP process was conducted in accordance with Section 218.391, Florida Statutes. Cherry Bekaert, LLP emerged as the top ranked firm.
The proposed contract includes a fixed fee of $150,000.00 for the fiscal year 2025 audit, representing a 14.5% increase from the fiscal year 2024 audit fee of $131,000.00. Subsequent audit fees are $153,750.00 for fiscal year 2026, $157,595.00 for fiscal year 2027, $161,535.00 for fiscal year 2028, and $165,570.00 for fiscal year 2029. An additional $36,550.00 is included in the funding request for additional hourly services as needed for expenses related to any significant changes in the scope of the audit due to new governmental accounting and auditing standards/practices, federal grants or other.
APPROPRIATION CODE AND AMOUNT:
Budgeted funds for this agreement are available in the Finance, Professional Services expense code 0109821-530100.
USE OF RESERVE FUNDS:
N/A
STRATEGIC PRIORITY:
1.1 Provide evidence-based measurement tools to continually guide municipal performance and promote accountable governance.
