. Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
MAY 19, 2021
Subject
SUBJECT: CONSOLIDATED AUDIT FOR FISCAL YEARS 2021-25
Action
ACTION: APPROVE CONTRACT AWARD
Heading
RECOMMENDATION
Title
AUTHORIZE the Chief Executive Officer to:
A. AWARD a five-year, firm fixed price Contract No. PS71091000, to Vasquez and Company, LLP (Vasquez) to perform Consolidated Financial and Compliance Audit of the programs, jurisdictions and agencies listed in Attachment C (Package A) for fiscal years (FY) 2021 - 2025 in the amount of $2,506,618.26, effective July 1, 2021, subject to resolution of protest(s) if any; and
B. AWARD a five-year, firm fixed price Contract No. PS71091001, to Simpson and Simpson, LLP (Simpson) to perform Consolidated Financial and Compliance Audit of the programs, jurisdictions and agencies listed in Attachment D (Package B) for fiscal years (FY) 2021 -2025 in the amount of $2,955,150, effective July 1, 2021, subject to resolution of protest(s), if any.
Issue
ISSUE
As the Regional Transportation Planner for Los Angeles County, the Los Angeles County Metropolitan Transportation Authority (Metro) is responsible for planning, programming, and allocating transportation funding to Los Angeles County jurisdictions, transit operators, and other transportation programs. Metro has the fiduciary responsibility to provide assurance that recipients of funds included in the Consolidated Audit adhere to the statutes, program guidelines, and/or agreements with each applicable funding source and that operations data used to allocate funds are fair and are in accordance with Federal Transit Administration (FTA) guidelines.
The consolidated audit process includes financial and compliance audits of the following programs:
1. Local Funding Program to the 88 cities and Unincorporated Los Angeles County.
a) Proposition A Local Return
b) Proposition C Local Return
c) Measure R Local Return
d) Measure M Local Return
e) Transit Development Act (TDA) Article 3...
Click here for full text