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CITY OF COLTON <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF MAY 2, 2000 <br />TO: HONORABLE MAYOR PRO TEMPORE� CITY COUNCIL MEMBERS <br />APPROVAL: HENRY T. GARCIA, CITY MANAGE <br />FROM: AL HOLLIMAN, FINANCE DIRECTO <br />SUBJECT: CONTRACT EXTENSION FOR AUDIT SERVICES <br />DATE: APRIL 24, 2000 <br />BACKGROUND <br />For the past three years, the firm of Lance, Soll & Lunghard has been under contract with the <br />City of Colton to perform the annual audit of the City's books and records. The contract <br />expired with completion of the audit for the fiscal year ended June 30, 1999. <br />DISCUSSION/ANALYSIS <br />The annual audit for the fiscal year ended June 30, 1999 was completed in mid-February, <br />2000. Finance staff has not had adequate time since then to prepare a request for proposal <br />(RFP) for new audit services. It is now time for audit work to begin for the year ending on <br />June 30, 2000. Staff has been relatively pleased with the work of Lance, Soll & Lunghard and <br />requests City Council approval of a one-year extension to the agreement with them. An RFP <br />will be prepared by late Fall, 2000 for new audit services to commence with the year ending <br />June 30, 2001. <br />FINANCIAL IMPACT <br />The cost of the audit for the year ending June 30, 2000 is $60,600. Adequate funds are <br />budgeted in the following account numbers: <br />100-6040-6041-2350 <br />31,600 <br />37,730 <br />886-9000-9000-2350 <br />6,370 <br />6,497 <br />870-9550-9551-2350 <br />2,400 <br />2,448 <br />520-8000-8001-2350 <br />3,290 <br />3,356 <br />521-8300-8300-2350 <br />3,290 <br />3,356 <br />522-8200-8200-2350 <br />3,290 <br />3,356 <br />206-7200-7202-2350 <br />3,780 <br />3,857 <br />ENVIRONMENTAL IMPACT <br />None. <br />RECOMMENDATION <br />Staff recommends City Council approval of a one-year extension of the agreement for audit <br />services with the firm Lance, Soll & Lunghard. <br />Item #5 <br />