2005-172 Ordinance - Laserfiche WebLink

Home Browse Search

CITY OF NORTH OLMSTED ORDINANCE NO. 2005- 172 BY: Council Member Tallon AN ORDINANCE AUTHORIZING THE DIRECTOR OF FINANCE TO REQUEST PROPOSALS FROM CERTIFIED PUBLIC ACCOUNTANTS TO PROVIDE GAAP CONVERSION SERVICES FOR THE PREPARATION AND IMPLEMENTATION OF THE 2005 COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR), AND ALSO, AS AN OPTION TO BE EXERCISED BY THE CITY, FOR THE 2006 REPORT; AND FURTHER AUTHORIZING THE MAYOR, SUBJECT TO APPROVAL OF THE BOARD OF CONTROL, TO ENTER INTO AN AGREEMENT WITH THE PROFESSIONAL SELECTED IN THE RFP PROCESS, AND DECLARING AN EMERGENCY, AS AMENDED. WHEREAS, each year since 1999, the City has issued a Comprehensive Annual Financial Report (CAFR); and WHEREAS, the financial section of this Report is critical and the accumulation and recording of data using Generally Accepted Audit Principles (GAAP), as required by the financial reporting model GASB 34, to clearly represent the City's finances greatly depends on obtaining competent outside professional accounting services; and WHEREAS, in accordance with the recommendation of the Director of Finance, it is the desire of this Council to authorize her to request proposals from certified public accountants to provide said services in connection with the preparation and implementation of the 2005 Comprehensive Annual Financial Report (CAFR), and also, as an option to be exercised by the City, for the 2006 Report, and further to authorize the Mayor to enter into an agreement with the professional selected in the RFP process and approved by the Board of Control; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: SECTION 1: That the Director of Finance be and she hereby is authorized to request proposals from certified public accountants to provide GAAP conversion services, as required by financial reporting model GASB 34, in connection with the