cover
TO: Mayor Thomas J. Weisner
FROM: Brian W. Caputo, Chief Financial Officer/City Treasurer
DATE: November 10, 2014
SUBJECT:
A Resolution Accepting the Proposal of Sikich LLP to Conduct the Audit of All Funds and Accounts of the City for the Fiscal Years Ending December 31, 2014, 2015, 2016, and 2017
PURPOSE:
To facilitate the City Council's approval of a proposed resolution that would provide for the engagement of Sikich LLP, to conduct the audit of the city's annual financial statements for the fiscal years ending December 31, 2014, 2015, 2016, and 2017.
BACKGROUND:
Under state law, municipalities in Illinois are required to have an audit of their annual financial statements. Sikich LLP, has audited the City's financial statements since the late 1980s. I believe that the Finance Committee and the City Council have been highly satisfied with Sikich's examination of the city's financial records. The firm's assistance with the preparation of the city's Comprehensive Annual Financial Reports has also been excellent as evidenced by the Government Finance Officers Association awarding to Aurora the Certificate of Achievement for Excellence in Financial Reporting every year since 1998.
The previous contract that we had with Sikich for auditing services covered the 2010 through 2013 audits. Sikich's fees for the 2013 audit are attached.
DISCUSSION:
Sikich has submitted the attached proposal to provide auditing services to the city for the fiscal years ending December 31, 2014, 2015, 2016, and 2017. The proposed services would meet the city's needs. Sikich's proposed fees for the audits are attached.
As indicated above, Sikich has offered a fee for the city's portion of the 2014 and 2015 audits that is approximately 1% higher than the respective previous years. For the 2016 and 2017 audits, Sikich has proposed fees with increases of approximately 1.5% and 2% over the prior year for the city's portion of the audit.
Sikich has no past-due balances on its accounts with the City.
IMPACT STATEMENT:
Not Applicable.
RECOMMENDATIONS:
That the City Council adopt the attached, proposed resolution providing for the engagement of Sikich LLP to conduct the audit of the city's annual financial statements for the fiscal years ending December 31, 2014, 2015, 2016, and 2017.
cc: Alderman O'Connor, Chairman
Alderman Mervine
Alderman Bohman
Alderman Peters, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution Accepting The Proposal of Sikich LLP To Conduct The Audit Of All Funds And Accounts Of The City For Fiscal Years Ending December 31, 2014, 2015, 2016, And 2017
body
WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, the Illinois Municipal Auditing Law provides that the corporate authority shall cause to be performed an audit of all funds and accounts of this municipality; and
WHEREAS, Sikich LLP, a firm of certified public accountants, has submitted the attached proposal, dated November 5, 2014, to perform audits of all funds and accounts of the City of Aurora, Illinois, for the fiscal years ending December 31, 2014 through 2017; and
WHEREAS, the auditing services provided by Sikich LLP, to the City in previous years were highly satisfactory; and
WHEREAS, budgetary authority for this professional service has been requested in the 2015 City Budget primarily in account nos. 101-2521-415.32-05 (General Fund) and 510-2560-511.32-05 (Water & Sewer Fund).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: that the attached proposal of Sikich LLP, to perform the audits of the City's financial statements for the fiscal years ending December 31, 2014, 2015, 2016, and 2017 is hereby accepted.
PASSED AND APPROVED on ______________.
AYES ____ NAYS ____ NOT VOTING ____ ABSENT ____
____________________________ __________________________
Alderman Bohman, Ward 1 Alderman Garza, Ward 2
____________________________ __________________________
Alderman Mesiacos, Ward 3 Alderman Donnell, Ward 4
____________________________ __________________________
Alderman Peters, Ward 5 Alderman Saville, Ward 6
____________________________ __________________________
Alderman Hart-Burns, Ward 7 Alderman Mervine, Ward 8
____________________________ __________________________
Alderman Bugg, Ward 9 Alderman Johnson, Ward 10
____________________________ __________________________
Alderman Irvin, At Large Alderman O'Connor, At Large
ATTEST:
____________________________ __________________________
City Clerk Mayor