TITLE
Recommendation to request City Attorney to prepare and authorize City Manager to execute a contract with KPMG, LLP, for audit services not to exceed $514,925 for 2005 audit and $600,000 for 2006 audit. The term of contract will be from July 1, 2005 to June 30, 2007.
DISCUSSION
As you know, my office conducts the annual financial audits of the City and its enterprises. In order to effectively complete these audits, we contract for additional audit resources from KPMG, LLP, an international accounting firm. Included in the scope of work are I 1 financial reports, including the City's
Comprehensive Annual Financial Report, Harbor, Water, Gas, Airport, Long Beach Transit, and Redevelopment. Once again I am recommending we continue our relationship with KPMG, LLP, in order to capitalize on their experience in Long
Beach and their expertise in government auditing. We have negotiated a two-year agreement for a fixed amount of $514,925 for the September 30, 2005 audit and $600,000 for the September 30, 2006 audit.
TIMING CONSIDERATIONS
[Timing Considerations]
FISCAL IMPACT
[Fiscal Impact]
SUGGESTED ACTION
Approve recommendation.
BODY
[Enter Body Here]
Respectfully Submitted,
[Respectfully Submitted,]