CITY OF TEXARKANA, AR

REQUEST FOR BOARD ACTION

 

AGENDA TITLE: Adopt a Resolution to accept the 2017 Audit Engagement Letter prepared by the accounting firm of BKD, LLP. (FIN)

 

AGENDA DATE: 03/05/2018

ITEM#: 7

DEPARTMENT: Finance Department

DATE SUBMITTED: 02/22/2018

PREPARED BY: TyRhonda Henderson

SUBJECT: Year End 2017 Audit Engagement Letter

EXHIBITS: Audit Engagement Letter prepared by the accounting firm of BKD, LLP

APPROVAL:

 

 

EXPENSE REQUIRED: $94,500

AMOUNT BUDGETED: $94,000

APPROPRIATION REQUIRED: $500

SUMMARY: This item is to approve a letter of engagement with the firm BKD, LLP to conduct the City of Texarkana, Arkansasí and the Bi-State Justice Centerís 2017 Annual Audit and preparation of the Consolidated Annual Financial Report. They are experienced in conducting Government Audits and are also used by other citiesí within the state of Arkansas as well as other cities throughout the United States. The City Manager and Finance Director recommend approving a one-year letter of engagement. The one-year engagement is a 5% increase from 2016 to 2017.

BOARD ACTION: The City Manager and staff recommend that the City Board of Directors approve the attached resolutions.

 

EMERGENCY CLAUSE: Not required.

 

 

 

 

 

 

 

 

RESOLUTION NO. ______

 

WHEREAS, the firm BKD, LLP, has submitted a letter of engagement to conduct annual audits for the City of Texarkana, Arkansas, and the Bi-State Justice Center for 2017; and

WHEREAS, the City Manager and Finance Director recommend approving a one-year engagement with a 5% increase from 2016 to 2017 (being a total fee for said 2017 Audit of $94,500.00); and

WHEREAS, the proposed expense necessitates a $500.00 appropriation to bring the total amount budgeted for said audit to $94,500.00; and

WHEREAS, the City Manager and staff recommend board approval; and

NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the City of Texarkana, Arkansas, that the City Manager is authorized and directed to enter into a letter of engagement with BKD, LLP, under the terms set forth above.

PASSED AND APPROVED this 5th day of March, 2018.

 

 

_____________________________

Ruth Penney-Bell, Mayor

 

 

ATTEST:

 

________________________________

Heather Soyars, City Clerk

 

 

APPROVED:

 

________________________________

George M. Matteson, City Attorney