HomeMy WebLinkAboutOrdinance 17861-11-2007Ordinance No. 17861-11-2007
AN ORDINANCE INCREASING APPROPRIATIONS IN THE GENERAL FUND IN
THE AMOUNT OF $180,000 AND DECREASING THE UNAUDITED,
UNRESERVED, UNDESIGNATED FUND BALANCE BY THE SAME AMOUNT,
FOR THE PURPOSE OF EXECUTING A PROFESSIONAL SERVICES
AGREEMENT WITH WEAVER AND TIDWELL, LLP FOR ASSISTANCE WITH
DECREASING THE TIMELINE TO COMPLETE THE 2006 AND 2007
COMPREHENSIVE ANNUAL FINANCIAL REPORTS; PROVIDING FOR A
SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR
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 2007-
2008 in the Budget of the City Manager, there shall also be increased appropriations in the General
Fund in the amount of $180,000 and decrease the unaudited, unreserved, undesignated fund
balance by the same amount, for the purpose of executing a professional services agreement with
Weaver and Tidwell, LLP for assistance with decreasing the timeline to complete the 2006 and
2007 Comprehensive Annual Finance Reports.
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. 17749 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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.
ADOPTED AND EFFECTIVE: November 6. 2007
This ordinance shall take effect upon adoption.
City of Fort I/Vorth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 11/6/2007 -Ordinance No. 17861-11-2007
DATE: Tuesday, November 06, 2007
LOG NAME: 13WEAVER-TIDWEL REFERENCE NO.: **C-22501
SUBJECT:
Authorize the City Manager to Execute a Professional Services Agreement with Weaver and
Tidwell, LLP, to Provide Financial Services to Complete the 2006 and 2007 Comprehensive Annual
Financial Reports and Adopt a Supplemental Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the City Manager to execute a professional services agreement with Weaver and Tidwell, LLP,
to provide financial services towards the completion of the 2006 and 2007 Comprehensive Annual Financial
Report (CAFR) for the period November 5, 2007 through January 18, 2008, for an amount not to exceed
$180,000; and
2. Adopt the attached supplemental appropriation ordinance increasing appropriations in the General Fund
by $180,000 and decreasing the unaudited, unreserved, undesignated fund balance by the same amount.
DISCUSSION:
The Finance Department is diligently striving to complete and submit the 2006 and 2007 CAFRs. Weaver
and Tidwell LLP, a professional accounting and consulting services firm, has offered the services of four
staff members to assist the City with completing the annual financial reports for the years 2006 and 2007.
Specifically, Weaver and Tidwell will provide the following services: 1) Reconcile Cash Clearing Accounts;
2) Reconcile departmental billing systems to the City's General Ledger Accounts Receivable balances to
properly state expected future receipts and related reserves for uncollectible accounts; 3) Perform Petty
Cash Audits for all Petty Cash Accounts; 4) Reconcile Retainage and Escrow Accounts to properly state the
City's liabilities; 5) Assist staff with variance analyses to determine final adjustments to the General Ledger;
and 6) Assist staff with the preparation of CAFR schedules and notes.
Staff recommends employing the services of Weaver and Tidwell because the additional resources would
decrease the timelines for both the 2006 and 2007 annual financial reports. It is anticipated that the
agreement would cover the period November 5, 2007, to January 18, 2008, for a total of 51 work days
(1632 hours) at an hourly rate of $110 per hour. The agreement would not cover any payments for official
City holidays (Thanksgiving, Christmas, New Year) during this period.
M/WBE - A waiver of the goal for M/1lVBE subcontracting requirements was requested by the Finance
Department and approved by the M/WBE Office because the services being provided do not present
subcontracting or supplier opportunities.
Logname: 13WEAVER-TIDWEL Page 1 of 2
FISCAL INFORMATION/CERTIFICATION:
The Finance 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 unaudited, unreserved, undesignated fund balance
of the General Fund will be $982,672.
TO Fund/Account/Centers
FROM Fund/Account/Centers
GG01 539120 0132010 X180.000.00
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
Karen Montgomery (6222)
Lena Ellis (8517)
Walter Peoples (6217)
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