HomeMy WebLinkAboutOrdinance 20201-05-2012Ordinance No. 20201 -05 -2012
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE GENERAL FUND IN THE AMOUNT OF $101,655.00,
AND DECREASING THE UNASSIGNED GENERAL FUND BALANCE BY THE
SAME AMOUNT, FOR THE PURPOSE OF INCREASING THE AUDIT FEES FOR
INDEPENDENT AUDITING SERVICES TO DELOITTE & TOUCHE, LLP FOR THE
FISCAL YEAR 2011 SINGLE AUDIT AND COMPREHENSIVE ANNUAL
FINANCIAL REPORT; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING
THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE
DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2011 -2012 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
General Fund in the amount of $101,655.00, and decreasing the unassigned General Fund balance by the
same amount, for the purpose of increasing the audit fees for independent auditing services to Deloitte &
Touche, LLP for the Fiscal Year 2011 Single Audit and Comprehensive Annual Financial Report.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or
void for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way
impair the remaining portions, sections, or parts of sections of this ordinance, which said remaining
provisions shall be and remain in full force and effect.
SECTION 3
That this ordinance shall be cumulative of Ordinance No.1 99 1 1 -09 -20 1 1 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions
of said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
Assistant Cit Attorney
:�UOP 11:D AND 1 F FEC "CI�'1 Mav �, 201'
City of Fort Worth, Texas
Mayor and Council Communication
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COUNCIL ACTION: Approved on 5/8/21112 - Ordinance No. 20201 -05 -2012
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DATE: Tuesday, May 08, 2012 REFERENCE NO.: * *C -25597
LOG NAME: 101NCREASE 2011 CAFR AUDIT FEES
SUBJECT:
Adopt Supplemental Appropriation Ordinance in the Amount of $101,655.00 and Authorize Execution of an
Amendment to City Secretary Contract No. 42322 with Deloitte & Touche, LLP, to Increase the Fees for the
Fiscal Year 2011 Single Audit and Comprehensive Annual Financial Report Establishing a Total Fiscal
Year 2011 Audit Fee in the Amount of $1,202,855.00 (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached supplemental appropriation ordinance increasing appropriations in the General
Fund in the amount of $101,655.00 and decreasing the unassigned general fund by the same amount;
and
2. Authorize the execution of an amendment to City Secretary Contract No. 42322 with Deloitte &
Touche, LLP, for the Fiscal Year 2011 Single Audit and Comprehensive Annual Financial Report to
increase the audit fees in the amount of $101,655.00 for additional audit services and amend the contract
to authorize use of the previously approved $60,000.00 contingency amount establishing the Fiscal Year
2011 audit fee total in the amount of $1,202,855.00.
DISCUSSION:
On September 14, 2010, (M &C C- 24442) the City Council awarded the contract for financial audit services
to Deloitte & Touche, LLP, for one year with four options to renew through Fiscal Year (FY) 2014. The City
is currently in the first renewal term. The fee proposed for the FY2011 audit was in the amount of
$1,101,200.00 (estimated initial cost of $1,041,200.00 plus $60,000.00 estimated contingency funds). For
the FY2011 Comprehensive Annual Financial Report (CAFR) audit, the contractor incurred additional
costs of $161,655.00 as follows:
1. The contractor expended 815 additional hours above their original estimate, multiplied by their hourly
rate of $137.00 for a total amount of $111,655.00.
2. The contractor also had to audit five additional major federal programs at $10,000.00 per program for a
total amount of $50,000.00.
The total actual fee for the FY2011 CAFR audit is $1,202,855.00.
City Council approved $1,101,200.00 (proposed audit fee plus contingency funds) for audit fees in the
FY2012 budget. An additional $101,655.00 is needed to cover the total actual fees for the FY2011 audit.
FISCAL INFORMATION / CERTIFICATION:
Logname: I OINCREASE 2011 CAFR AUDIT FEES Page 1 of 2
The Financial Management Services Director certifies that upon approval of the above recommendations
and adoption of the attached supplemental appropriation ordinance, funds will be available in the current
operating budget as appropriated, of the General Fund. Upon approval, the unreserved, undesignated
fund balance of the General Fund will exceed the minimum reserve as outlined in the Financial
Management Policy Statements.
FUND CENTERS:
TO Fund /Account/Centers
FROM Fund /Account/Centers
GG01 531200 0101000 $101,655.00 GG01 531200 0101000
CERTIFICATIONS:
Submitted for City Manager's Office by: Thomas Higgins (6192)
Originating Department Head:
Additional Information Contact:
Darlene Allen (6132)
Terry Holderman (6141)
$101.655.00
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