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File #: 24-5617   
Type: Orange County Transportation Authority Item Status: Committee Ready - Regular Calendar
File created: 4/12/2024 In control: Board
On agenda: 4/22/2024 Final action:
Title: Agreement for Independent Annual Financial Auditing Services
Sponsors: Janet Sutter
Attachments: 1. Staff Report, 2. Attachment A

Subject

title

Agreement for Independent Annual Financial Auditing Services

overview

Overview

On January 22, 2024, the Board of Directors approved the selection of Eide Bailly LLP, as the firm to provide annual financial and compliance audits and agreed-upon procedures reviews of the Orange County Transportation Authority and related agencies for the fiscal years ending June 30, 2024, 2025, and 2026. On April 11, 2024, Eide Bailly LLP notified the Orange County Transportation Authority that the firm could not agree to terms of the proposed agreement relating to the duty to defend. As such, the Board of Directors is being asked to approve the selection of the second-ranked firm, Crowe LLP.

recommendation

Recommendations

A.                     Approve the selection of Crowe LLP, as the firm to provide independent annual financial auditing services.

 

B.                     Authorize the Chief Executive Officer to negotiate and execute Agreement No. C-3-2931 between the Orange County Transportation Authority and Crowe LLP, in the amount of $1,785,500, to provide independent annual financial auditing services for a three-year initial term with one, two-year option term.