Title
Resolution - A Resolution Authorizing the Professional Financial Audit Services Contract
Requested Action
Approve the resolution accepting the bid for the City’s professional financial audit services between the City of Mansfield, Texas and BKD CPAs & Advisors.
Recommendation
Approve a Resolution allowing BKD CPAs & Advisors to provide professional financial audit services for the City of Mansfield, Texas.
Description/History
Chapter 103 of the Texas Local Government Code requires municipalities to have its records and accounts audited annually and to have an annual financial statement prepared based on the audit. The audit must be conducted by a certified public accountant licensed in the State of Texas.
The City of Mansfield, Texas has requested proposals for Professional Financial Audit Services from audit firms licensed to perform financial audits in the State of Texas. The City received proposals from eight different firms located in Texas and New Mexico. The sealed proposals were received on September 1, 2020.
Justification
As a part of the Government Finance Officers Association’s Recommended Practices and compliance with Chapter 103 of the Texas Local Government Code, the City of Mansfield, Texas has decided to initiate a request for proposals and for professional financial audit services. The purpose is to create a competitive market environment for controlling costs while ensuring the City receives a high quality annual audit from a nationally recognized firm. The purpose has been served.
Staff reviewed, evaluated, and analyzed the proposals in detail. All proposals were compared based on a combination of national presence and reputation, price, and local government experience with an emphasis on Texas and similar-sized governments to Mansfield. BKD CPAs & Advisors meets all of the City’s criteria including a very strong, national presence and reputation while costing the City less money compared to other similar sized firms. They boast a very impressive local government client list nationwide and particularly in North Texas and have the significant resources required to perform the City’s annual audit and to provide guidance and training throughout the year.
For these reasons, staff has determined that BKD CPAs & Advisors is the best overall solution for professional financial audit services for the City of Mansfield, Texas.
Funding Source
General Fund
Water & Sewer Fund
Drainage Fund
MEDC
MPFDC
Prepared By
Peter Phillis, CPA, Deputy City Manager
817-276-4261
Bryan Rebel, Assistant Director of Business Services
817-276-4296
Maria Belloti, CPA, Chief Accountant
817-276-4257