Rocklin Municipal Code Section 2.28.030 requires an annual audit of all City financial transactions with an independent auditor. The current independent audit services contract was executed over seven years ago triggering staff to issue a new Request for Proposal (RFP) for Audit Services.
On March 14, 2022, the City issued an RFP for Audit Services for the fiscal years ending June 30, 2022, 2023, and 2024, with the option to extend two additional one-year terms. The RFP was published on the City website and multiple trade websites. Two proposals were submitted.
Finance staff evaluated the two proposals on the basis of communication style, quality, experience/qualifications, approach to audit services, ability to meet the City’s requirements, and cost. After a thorough review and discussion, staff recommends that the contract be awarded to Chavan and Associates. Chavan and Associates is the City’s current auditor and has been the City’s auditor since Fiscal Year (FY) 2014/15. The City has been very happy with the firm’s work. To remain compliant with audit regulations, the firm will provide a different partner to lead their engagement with the City.
The total contract not-to-exceed amount is $123,250 for the initial three-year term.
FY 2021/22 - $40,000
FY 2022/23 - $41,000
FY 2023/24 - $42,250
The costs for the two optional years are:
FY 2024/25 - $44,250 (optional year 1)
FY 2025/26 - $45,500 (optional year 2)