Action Item
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Business
Action Item |
| DATE: | Tuesday, April 1, 2014 |
| TO: | School Board Members |
| FROM: | MaryEllen Elia, Superintendent |
| SUBJECT / RECOMMENDATIONS | |
| Accept the Proposal from KPMG LLP - Request for Proposal (RFP) #14002-DST Auditing Services (Business Division) | |
| EXECUTIVE SUMMARY | |
| On January 21, 2014, the Procurement Department, in conjunction with the district Accounting Department, issued an RFP for auditing services. The independent auditing services are comprised of an annual examination and a single audit performed in the years not reviewed by the Auditor General. The purpose of the financial audit is to express an opinion on the financial statements of the district and to review the Comprehensive Annual Financial Report (CAFR) compliance with the Government Finance Officers Association (GFOA) guidelines. The single audit is an audit of federal grants.
Eight firms responded and a committee consisting of Budget, Student Nutrition Services, Federal Programs, and Facilities representatives read the proposals, attended presentations by the two top-ranked vendors and recommended awarding to the top-ranked firm. The initial term of the contract shall be for a five-year period beginning April 11, 2014, with two one-year renewals. This contract may be renewed by the Superintendent, per the terms of the specifications. |
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| STRATEGIC OBJECTIVES | |
| • Align financial resources to support the district’s strategic goals • Demonstrate best financial practices | |
| FINANCIAL IMPACT (Budgeted: Yes) | |
| The cost of the financial audit is $195,000 annually for three years, then $199,000 for year four, and $203,000 for year five. The cost of the single audit, which includes six major programs, is $50,000 for years one through three, $51,000 for year four, and $52,000 for year five. The district is saving $113,500 from the previous five-year expenditure. | |
| EVALUATION | |
| Contract administration or evaluation is performed by the Project Manager (end user) and Procurement Officer, who function as a team. Reviews are conducted face to face, typically quarterly, or by utilizing an online vendor performance report. Prior to soliciting a new contract, the Contract Administration team must first give consideration to the specifications and supporting data of the existing contract. | |
| SUBMITTED BY: Ed Nicholson, Manager of District Accounting | |
| Jean Bowman | Gretchen Saunders | |
| General Manager, Procurement Department 813-272-4374 |
Chief Business Officer (813) 272-4270 |
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| A 6.05 | ||
| Hillsborough County Public Schools (Florida) * Mtg.#20140401_630 (Board Meeting) * Section A Item# 6.05 | ||