Title
Consider recommendation from EAA staff to approve an engagement letter with RSM US, L.L.P., to provide independent audit services for fiscal year 2016.
Body
RECOMMENDED MOTION:
Move the board approve an engagement letter with RSM US, L.L.P., to provide independent audit services for fiscal year 2016, with an option to renew for up to two additional years.
SUMMARY:
The purpose of this agenda item is for the board to consider an EAA staff recommendation to approve an engagement letter with RSM US, L.L.P., for independent audit services for fiscal year 2016.
At the meeting on September 13, the board approved the selection of RSM US, L.L.P., as the EAA's independent audit firm, and directed staff to negotiate a contract accordingly. Attached to this summary is the draft engagement letter between the EAA and RSM US, L.L.P., to provide audit services for 2016. The total cost for audit services for fiscal year 2016 is $43,000.
As a quorum of the Finance/Administrative was not present at the September 27 meeting, this item is coming to the board as a staff recommendation. Staff recommends the board approve the engagement letter with RSM US, L.L.P., for 2016 audit services with an option to renew for two additional years. Staff and legal counsel have reviewed the attached engagement letter.
M/WBE PARTICIPATION:
RSM US, L.L.P. is not an M/WBE vendor, however their engagement includes 10% M/WBE subcontract participation.
STRATEGIC PLAN REFERENCE:
This agenda item does not relate to a specific goal within the Strategic Plan, but supports the general EAA mission.
FISCAL IMPACT:
Funding in the amount of $43,000 is available in the General Manager's 2017 proposed operating budget.