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Finance committee recommends one-year extension with Sikich, plans RFP for next year
Summary
After a lengthy discussion about auditor tenure and technical expertise, the committee voted to recommend a one‑year extension for Sikich as city auditor and directed staff to issue a request for proposals (RFP) next year to test the market and set a rotation policy.
City finance staff and committee members discussed whether to run a full request-for-proposals (RFP) for auditing services after a multi-year relationship with Sikich.
Hitesh explained Sikich’s technical experience with GASB pronouncements, pension and OPEB reporting and the firm’s large municipal client base. Committee members raised independence and best-practice concerns; Council member Kelly argued routine rotation and periodic market testing improve independence and keep pricing competitive. Committee member McMillan also urged an RFP; other members said the committee’s near-term priorities and the coming high‑priority budget work made a full RFP this month a poor use of limited staff and committee time.
The committee voted to recommend a one-year extension of Sikich’s contract while directing staff to issue an RFP in the following year. The roll-call vote recorded committee approval to extend Sikich for one year and to pursue an RFP after that extension.
Why it matters: Independent audits support transparent financial reporting and credit-market access. The committee balanced the benefits of continuity and technical familiarity against the governance practice of rotating audit firms or partners periodically.
Next steps: Staff will notify Sikich of the one-year extension recommendation to City Council and prepare an RFP process for next year, along with a proposed policy for audit-rotation frequency.
