Title
Audit Review Committee Selection of Independent Auditor (Commissioner Meier)
Action
ACTION:
Approve the recommendation from the Audit Review Committee to appoint Cherry Bekaert, LLP as external auditor for three years beginning with the June 30, 2024 fiscal year end audit.
Staff Contact: David Boyd, Chief Financial Officer
Presentation: No
BACKGROUND/JUSTIFICATION:
The Audit Review Committee met on Tuesday February 6, 2024 to receive the selection committee’s recommendation for appointment of the external auditor for the County. The selection committee reviewed responses from the three CPA firms that responded to the County's RFP for external audit services and proposals were evaluated based on experience, qualifications, audit approach and cost. The Selection Committee recommended the appointment of Cherry Bekaert, LLP and the Audit Review Committee approved the recommendation.
PROCUREMENT BACKGROUND:
December 1, 2023: The County published the Request for Proposal for a three-year contract, with two option years, for the County’ annual financial and single audit.
January 3, 2024: Three bids received.
January 4-17, 2024: Selection Committee reviewed proposals.
February 6, 2024: Selection Committee presented results to the Audit Review Committee; Audit Review Committee approved recommendation for Cherry Bekaert, LLC.
POLICY IMPACT:
N/A
FISCAL IMPACT:
Total cost = $1,255,000 over life of three year contract with two optional renewal years from available funds in the General Fund annual operating budget.
FY24 - $227,000
FY25 - $238,000
FY26 - $250,000
FY27 - $263,000
FY28 - $277,000