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Approving Recommendation of Award, RFP Audit Services P2017000007
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The Albuquerque Bernalillo County Water Utility Authority (Water Authority) is required to designate a firm of certified public accountants to perform an independent audit of the Water Authority’s financial records. The current contract with REDW, LLC has expired with the completion of the audit for fiscal year 2016.
In accordance with the New Mexico State Auditor Rules (2.2.2 NMAC), the Water Authority is required to bid audit services at the expiration of any contract and is encouraged to request multiple year proposals for audit services (not to exceed three years). The Water Authority issued the above referenced Request for Proposals (RFP) to solicit proposals from qualified vendors.
The RFP was posted on the Sicomm website and advertised in the local newspaper. Three Responses to the RFP were received on May 2, 2017. The ad hoc evaluation committee reviewed, evaluated, and scored the responses in accordance with the evaluation criteria published in the RFP. The firms were as follows:
Atkinson & Co. LLC
CliftonLarsonAllen, LLP
REDW, LLC
FISCAL IMPACT:
The cost for the audit services will be approximately $55,000 per year, with the contract covering a three-year period. This amount is appropriated in the FY17 Operating Budget.
RECOMMENDATION:
It is recommended the Water Authority Board award the contract to provide independent audit services to REDW, LLC for a term of one year with a two year renewal beginning with fiscal year ending June 30, 2017. REDW, LLC which had the highest composite score, is qualified to perform the work, and meets the requirements of the RFP. Once the Water Authority Board approves of this procurement for auditing services, it must be submitted for approval to the New Mexico State Auditor. Upon this approval, REDW, LLC can begin work on the FY/17 financial statements.