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, e CITY OF NORTH OLMSTED ORDINANCE NO. 2004 - 181 BY: Council Member Kasler AN ORDINANCE DISPENSING WITH THE RFP PROCESS OTHERWISE REQUIRED BY SECTIONS 111.03 ET SEQ. OF THE ADMINISTRATIVE CODE AND AUTHORIZING THE MAYOR, SUBJECT TO APPROVAL OF THE BOARD OF CONTROL, IF NECESSARY, TO ENTER INTO ANAGREEMENT WITH COSTIN + COMPANY IN ORDER TO PROVIDE ASSISTANCE IN GAAP CONVERSION AND PREPARATION OF THE CITY'S CAFR FOR THE YEAR 2004, AS AMENDED. 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 Directar of Finance that Costin + Company, who has been the City's independent Auditor for the last four years, 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 2004 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 Costin + Company 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: