Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Procurement Audit Contract topic
No spam. Unsubscribe anytime.
Committee advances $6.8 million, four-year independent audit contract
Summary
The committee recommended the Board approve a four-year auditing agreement (not-to-exceed $6.8 million) selecting Macias, Gini & O'Connell to audit the controller's office and related entities; BLA recommended approval and committee voted to forward the resolution.
The Government Audit & Oversight Committee voted unanimously to forward a resolution selecting Macias, Gini & O'Connell (transcript: "Macias, Jenny and O'Connell LLP") as independent auditors for the controller's office and separately audited departments under a four-year agreement not to exceed $6.8 million.
Carmen Lafrank, financial reporting manager for the controller’s office, described the contract scope — including the annual comprehensive financial report (ACFR), enterprise and fiduciary fund audits and federal- and state-grant compliance reviews — and noted the contract would commence July 1, 2023. She presented a year-by-year budget that showed audit services and as-needed services totaling approximately $1.7 million in the first year and said the agreement includes a rate lock to help budgeting.
Nick Menard of the Budget Legislative Analyst’s office recommended approval, summarizing that billing rates in the contract range from about $104 to $380 per hour and that the not-to-exceed total is $6.8 million over four years.
A public commenter raised questions about the firm; the committee closed public comment and moved the item to the full Board with a positive recommendation. The motion passed on a unanimous roll call.
