Title
Consider approving Resolution No. 2025-122 authorizing the City Manager to execute a professional services agreement with Forvis Mazars, LLP, for Financial Audit Services for Fiscal Year-End September 30, 2025, in the amount of $131,650; and take appropriate action.
Body
REQUESTOR:
Finance Department
BACKGROUND:
The Texas Local Government Code, Section 103.001, requires City management to present a draft of the annual audits of municipalities. The City Charter, Section 2-18, requires a yearly audit of the books of accounts, financial records, and other evidence of transactions by a certified public accountant within 180 days of the end of the fiscal year. The Annual Comprehensive Financial Report (ACFR) includes all the City's funds, blended component units, and joint ventures. It complies with the accounting requirements established by the Governmental Accounting Standards Board (GASB). The City of Farmers Branch engages an independent third-party firm to conduct its annual financial audit, ensuring transparency, accountability, and an open, unbiased review of the City's financial operations.
DISCUSSION:
This agenda item proposed a Professional Services Agreement with Forvis Mazars, LLP, in an amount not to exceed $131,650 for audit services related to the Annual Comprehensive Financial Report (ACFR), Annual Financial Assurance to Texas Commission on Environmental Quality (TCEQ), and Schedule of Federal Awards (grant reporting). The service agreement also includes reporting software license renewal and optional quotes for assistance with preparing government-wide entries in the ACFR, as well as calculations related to the Governmental Accounting Standards Board (GASB) standards 68, 75, 87, 94, 96, and 101.
For fiscal year-end (FYE) September 30, 2017, the Request for Proposal for independent audit services from Grant Thornton LLP, which continued through FYE 2019, was approved. For FYE 2020 and 2021, we retained the services of BKD, LLP, and for FY...
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