Title
Consider EAA staff recommendation to approve an engagement letter with RSM US, L.L.P., to provide independent audit services for fiscal year 2017.
Body
RECOMMENDED MOTION:
Move the the board approve an engagement letter with RSM US, L.L.P., to provide independent audit services for fiscal year 2017, with an option to renew for up to one additional year.
SUMMARY:
The purpose of this agenda item is for the board to consider approval of an engagement letter with RSM US, L.L.P., for independent audit services for fiscal year 2017.
At the September 2016 meeting, the board approved the selection of RSM US, L.L.P., as the EAA’s independent audit firm, and directed staff to negotiate an initial contract with two one-year renewal options. If approved, this item would exercise the first of two renewal options with RSM US, L.L.P.
Attached to this summary is the draft engagement letter between the EAA and RSM US, L.L.P., to provide audit services for 2017. Staff and legal counsel have reviewed the attached engagement letter. The total cost for audit services for fiscal year 2017 will not exceed $45,500.
M/WBE PARTICIPATION:
RSM US, L.L.P. is not an M/WBE vendor.
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 $45,500 is available in the proposed 2018 operating budget for completion of the fiscal year 2017 audit.