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Item S05BOARD OF COUNTY COMMISSIONERS AGENDA ITEM SUMMARY Meeting Date: July 15, 2015 Department: County Attorney Bulk Item: Yes X No Staff Contact /Phone #: Cynthia L. Hall, Ext. 3174 AGENDA ITEM WORDING: Approval of the Second Amendment to the Audit Contract between Monroe County and Cherry Bekaert LLP, the County's independent external auditing firm, exercising the option for a two-year extension of the contract term, and increasing the contract amount by $10,000 for each of the two years, to $296,000 per year. ITEM BACKGROUND: On June 10, 2015, the BOCC approved agenda item N-7, authorizing the County Administrator and the County Attorney to enter into negotiations with Cherry Bekaert LLP to exercise the two-year renewal option in § 3 of the July 18, 2012 Audit Contract. PREVIOUS RELEVANT BOCC ACTION: The BOCC approved and authorized the Audit Contract on July 18, 2012. The Board approved the First Amendment to the Audit Contract on December 11, 2013, increasing the scope of services to include a project -specific closeout audit of a DEP loan for the Big Coppitt wastewater system and adding $12,000.00 for that audit only. CONTRACT/AGREEMENT CHANGES: The Second Amendment exercises the option to extend the July 18, 2012 Audit Contract by two (2) additional years. The Second Amendment increases the contract amount by $10,000 for each of the two years, to $296,000 per year from $286,000 per year. In all other respects, the terms of the original Audit Contract remain unchanged. STAFF RECOMMENDATIONS: Approval TOTAL! . fee for annual audit: $296,000 INDIRECT COST: BUDGETED: REVENUE PRODUCING: Yes No X AMOUNT PER MONTH Year APPROVED BY: County Attorney OMB/Purchasin Risk Management flt� Included X Not Required_ 1 .! Revised 6/ 15 Contract with: Cherry Bekaert LLP Contract# Effective Date: July 18, 2012 Expiration Date: June,30,2016 Contract Purpose/Description: R Izi ilia I 11fe confracLIPULURE1 VM1F,1FIRIF tor,',eaWco the two Years. to $296.000 nar vear. Contract Manager: Cp!hia L. Hall 3174 1 CAY, S!2p 7 (Name) (Ext.) (Department/Stop for BOCC meeting on Agenda Deadline: 07/15/2015��, 06/30/2015 Me Z h I 04TOR I I Total Dollar Value of Contract: $ 1,450.000 1 Current Year Portion: $ Budgeted? Yes Grant: $ CountyMatch:ADDITIONAL COSTS Estimated Ongoing Costs: $ /yr For: (Not included in dollar value above) (e.g. maintenance, util Over 5 No F I Account Codes: CONTRACT REVIEW Changes ate In Needed Department Head � �1 Yes[:] No© Risk Management �, �, 5 YesF-1 No� O.M.B./Purchasing ��l15Yes[:]Noa I--- County Attorney 6-2�-Ul�-YesoNoW I Comments: Date Out COUNTY OF MONROE AUDIT CONTRACT SECOND AMENDMENT (EXERCISING OPTION TO EXTEND FOR TWO ADDITIONAL YEARS) This is an amendment (Second Amendment) to the contract dated July 18, 2012 ("Audit Contract") by and between the Board of County Commissioners of Monroe County, Florida (hereinafter "County") and Cherry Bekaert L.L.P. (hereinafter "Auditor"), a Certified Public Accountant limited liability partnership licensed to do business in the State of Florida (collectively, the "Parties"). WHEREAS, on July 18, 2012, the parties entered into the Audit Contract covering the external audit of the County's finances for fiscal years ending September 30, 2012, 2013 and 2014; and WHEREAS, the Audit Contract contains an option to extend the Audit Contract for an additional two (2) years; and WHEREAS, an Audit Selection Committee convened pursuant to Section 218.391, Fla. Stat., composed of representatives of each of the constitutional officers and the County unanimously voted to recommend extension of the Audit Contract; and WHEREAS, the County wishes to exercise the option to extend the Audit Contract for two (2) additional years; and WHEREAS, the base fee in the Audit Contract as originally stated ($286,000.00 per audit) has not increased since inception of the Audit Contract; and WHEREAS, the Auditor has requested an increase in the fixed fee by $10,000.00 per fiscal year for each of the remaining two fiscal years; and WHEREAS, the County agrees to the price increase. NOW, THEREFORE, in consideration of the mutual promises, benefits and covenants set forth herein, the Parties agree as follows: 1. Under Section 3, TERMS OF ENGAGEMENT, a new paragraph 3.1 is added, to read as follows: 3.1 This Agreement is hereby extended for two (2) additional years, until the completion of the financial audit for the fiscal year ending September 30, 2016. 2. Under Section 4, COMPENSATION AND TERMS OF PAYMENT, a new paragraph 4.1 is added, to read as follows: 4.1 For preparation of the audits covering fiscal years ending September 30, 2015 and September 30, 2016, the COUNTY shall pay to the AUDITOR a fixed 2"' Amendment Cherry Bekacrt L.L.P. fee for the annual audit of the COUNTY's financial statements of two hundred ninety-six thousand and no cents ($296,000.00) for each of the two audits. This fee is all-inclusive, and no charge for travel, telephone bills, copying or any other related fees or expenses shall be billed. The hourly fees shown in Section 4 of the Audit Contract, applicable to extra work requested by the COUNTY, remain unchanged. Payment under this agreement is contingent upon annual appropriation by the Monroe County Board of County Commissioners. 3. In all other respects, the terms and conditions of the Audit Contract dated July 18, 2012, and the First Amendment to the Audit Contract dated January 6, 2014 remain in full force and effect. IN WITNESS WHEREOF, the Parties hereto have caused this agreement to be executed on the day and year first above written. (SEAL) Attest: AMY HEAVILIN, Clerk 0 M M 1 9 Lola 85 Lei ON I M90ty.910124 I a 961 " I RZ-1 By: By: _ Deputy Clerk Mayor/Chairperson Witness: CHERRY BEKAERT, LLP By: By: Partner Printed Name: Printed Name: -*4— MONPOE COUNTY ATTORNEY (AF6PROVED AS109W UCYNTHIA L. HALL ASSISTANTIOUNTY ATTORNEY Date_ 2 "d Amendment Cherry Bckaert L. L R