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1 RESOLUTION NO. 11,340
2
3 A RESOLUTION TO AUTHORIZE AN AGREEMENT WITH BKD, LLP TO
4 CONDUCT AUDIT SERVICES FOR THE CITY OF LITTLE ROCK,
5 ARKANSAS, FOR THE 2002 FISCAL YEAR; TO ASSIST THE CITY IN
6 COMPLIANCE WITH GASB 34; AND FOR OTHER PURPOSES.
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s WHEREAS, the City is required to conduct an independent financial audit each
9 year of its various funds and pension plans, and in doing so to comply with various City
10 ordinances and state and federal laws and regulations, and
11 WHEREAS, the City is also required to come into compliance with GASB 34, and
12 WHEREAS, after a competitive selection process the Board of Directors authorized
13 an audit contract with BKD, LLP, in Little Rock, Ark., Resolution No. 10,770 (February 15,
14 2000), which could extend through 2004, in order to cover the audit for fiscal year 2003, if
15 the Board so desired, and
16 WHEREAS, the City Manager and the Director of Finance & Treasurer have
17 declared acceptable an agreement negotiated with BKD, LLP which sets maximum fees for
18 a review of the 2002 financial matters,
19 NOW, THEREFORE, BE IT RESOLVED BY THE$ BOARD OF DIRECTORS OF
20 THE CITY OF LITTLE ROCK, ARKANSAS:
21 Section 1. The City Manager is authorized to enter into an agreement with BKD,
22 LLP, in an amount not to exceed two hundred and ten thousand dollars ($210,000) as set
23 forth more fully below, to provide the following services to the City as part of its financial
24 review of the 2002 fiscal year:
25 (A) The sum of one hundred and forty-five thousand dollars ($145,000) as the
26 maximum audit fee for various City funds except City pension funds;
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Resolution —'
Contras with BKD, LLP to, Audit Services
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I (B) The sum of twenty-one thousand five hundred dollars ($21,500) as the
2 maximum audit fee for the audit of various City pension funds;
3 (C) The sum of forty three thousand five hundred dollars ($43,500), for
4 assistance in the implementation of GASB 34 requirements, and for various audit
5 and non -audit services as deemed necessary by the City Manager and the Director
6 of Finance and Treasurer.
7 Section 2. Funds for this agreement shall be included as a specific line item in
8 the 2003 annual budget, and will be available in Account No. 100 - 111 - 1100 -6081.
9 Section 3. Severability. In the event any title, section, paragraph, item, sentence,
10 clause, phrase, or word of this resolution is declared or adjudged to be invalid or
11 unconstitutional, such declaration or adjudication shall not affect the remaining portions
12 of the resolution which shall remain in full force and effect as if the portion so declared or
13 adjudged invalid or unconstitutional was not originally a part of the resolution.
14 Section 4. Repealer. All ordinances and resolutions are hereby repealed to the
15 extent of such inconsistency.
16 ADOPTED: August 5, 2002
17 ATTEST: APPROVED:
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19 /
20 Nancy ood, felty Clerk Ji ailey, Mayor
21 APPROVED AS TO LEGAL FORM:
22
24 Thomas M. Carpenter, City Attorney
25' H
26 H
27 H
28 H
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Contras with BKD, LLP for Au4it Services