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CITY OF NORTH OLMSTED ORDINANCE NO. 2003 -178 BY: Council Member McKay AN ORDINANCE DISPENSING WITH THE RFP PROCESS OTHERWISE REQUIRED BY SECTIONS 111.03 ET SEQ. OF THE ADMINISTRATIYE CODE AND AIITHORIZING THE MAYOR, SUBJECT TO APPROVAL OF THE BOARD OF CONTROL, IF NECESSARY, TO ENTER INTO AN AGREEMENT WITH THE LOCAL GOVERNMENT SERYICES DIVISION OF THE AUDITOR OF THE STATE OF OHIO, IN ORDER TO PROYIDE ASSISTANCE IN GAAP CONVERSION, IMPLEMENTATION OF THE NEW FINANCIAL REPORTING MODEL REQUIRED BY GASB NO. 34,AND PREPARATION OF THE CITY'S CAFR FOR THE YEAR 2003. WHEREAS, each year since 1999, the City has issued a Comprehensive Annual Financial Report (CAFR) which details the City's finances; and WHEREAS, the financial section of this Report is critical and the accumulation and recording of data using Generally Accepted Audit Principles (GAAP) to clearly represent the City's finances greatly depends on obtaining competent outside professional accounting services; and WHEREAS, because of the new financial reporting model requirements of GASB No. 34, it is the opinion of the Director of Finance that the Local Government Services Division of the Auditor of the State of Ohio is the best entity to this year provide the City with outside accounting support services in matters relating to GAAP conversion and preparation of the City's 2003 CAFR; and WHEREAS, it is not legally required that the City competitively bid this contract, because it is for professional services; and WHEREAS, it is accordingly the desire of this Council, consistent with the recommendation of the Director of Finance, to authorize the Mayor to enter into an agreement with the Local Government Services Division of the Auditor of the State of Ohio to provide the aforementioned professional services to the City; NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: .