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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Ptesented By: <br />Agenda Item No.: <br />08/04/2009 <br />Council Date: <br />Finance <br />Gene Anderson <br />24. <br />08/10/2009 <br />RECOMMENDED MOTION: <br />Move to accept the proposal from McClanahan & Holmes, LLP to perform an independent outside audit <br />on the City's 2008-09 financial records. <br />POLICY ISSUE(S): <br />Fiscal Responsibility; Charter Requirement <br />Section 35 of the City charter states that not less than 30 or more than 60 days prior to the end of the <br />fiscal year the City Council will designate the certified public accountants that will perform an <br />independent audit of the City's financial records for the fiscal year about to conclude. The City <br />requested, by two published advertisements in The Paris News, proposals by qualified accountants to <br />perform these services. One proposal was received from McClanahan & Holmes, LLP. The estimated <br />fee is $52,500 plus out-of-pocket expenses such as postage and printing. Such out-of-pocket expenses <br />usually run less than $500. <br />BOARD/COMMISSION RECOMMENDATION: <br />NON E <br />EXHIBITS: <br />Proposal letter. <br />ACTION: <br />BUDGET INFO: <br />❑ Financial Report Z Minute Order <br />Expense <br />$NA <br />❑ Department Report ❑ Resolution <br />Budgeted Amt. <br />$NA <br />❑ Presentation ❑ Ordinance <br />y'I'D Actual <br />$NA <br />❑ Public Hearing ❑ Other <br />Acct. Name <br />NA <br />Acct. Number <br />NA <br />FISCAL NOTES: <br />None <br />REVIEWED AND APPROVED BY: <br />Z Administration 0 City Clerk ❑ Community Development ❑ EMS/IT Z Finance ❑ Fire <br />❑ Municipal Court ❑ Legal ❑ Libraty ❑ Police ❑ Eng./Public Works ❑ Utilities <br />City of Paris Revised 2/04/08 <br />O <br />