HomeMy WebLinkAboutR-1996-102 Agreement / Alegria DePew Eschbach & Rothenueler / Housing Foundation AuditRESOLUTION NO. R-96 I'IZ
A RESOLUTION authorizing the City Manager to execute a letter
of agreement with Alegria, Depew, Eschbach &
Rothenbueler, CPAs to complete an audit of the
Housing Foundation as required by Federal grant
regulations.
WHEREAS, the City of Yakima has contracted with the
Housing Foundation as a sub -recipient of federal grant funds;
and
WHEREAS, the City of Yakima has the reponsibility of
oversight of the Housing Foundation to determine whether the
sub -recipient spent federal grant funds in accordance with
applicable laws and regulations, which includes obtaining and
reviewing the audited financial statements of the sub -
recipient prepared in accordance with OMB Circular A-133; and
WHEREAS, the Housing Foundation is unable to complete
the above-mentioned audit.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
YAKIMA:
The City Manager is hereby authorized to execute a
letter of agreement for an additional amount not to exceed
$2,500 with Alegria, Depew, Eschbach & Rothenbueler, CPAs to
complete the audit of the Housing Foundation for the fiscal
year ended June 30, 1995 as required by OMB Circular A-133.
ADOPTED BY THE CITY COUNCIL this &16-1.1'day of August,
1996.
ATTEST:
CITY CLERK
ITEM TITLE:
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. % 4
For Meeting Of Aug. 6, 1996
Resolution authorizing the City Manager to execute a letter of agreement to complete
an audit of the Housing Foundation required by Federal regulations.
SUBMITTED BY: Department of Finance and Budget
Department of Community and Economic Develo
CONTACT PERSON/TELEPHONE:
SUMMARY EXPLANATION:
John Hanson, Director of
Glenn Valenzuela, Director
Development / 575-6113
e and Budget / 575-6070
=nullity and Economic
The Division of Neighborhood Development contracted with the Housing Foundation to be a sub -recipient of
federal grant funds for the HOPE -3 Program. Federal regulations require the grantee to monitor sub -recipient
activity to determine that Federal funds are spent in accordance with applicable laws and regulations. The size
of the grant warrants that an audit in accordance with federal regulations be conducted, and the City has the
responsibility to ensure that an audit is performed.
Internal difficulties at the Housing Foundation did not allow them to complete the audit for the fiscal year
ended June 30, 1995. (The Division of Neighborhood Development took back the grant administration from
the Housing Foundation when it was made aware of these difficulties.) In order to avoid an audit finding for
the City with regards to the federal funds spec' the Housing Foundation, the City needs to see that the
Foundation's audit is completed. The audit ha( n substantially completed by Alegria, Depew, Eschbach &
Rothenbueler CPAs. However, they estimat. M., it will take approximately $2,500 to finish the audit and
produce the required audited financial stateme: The attached resolution authorizes the City Manager to sign
a letter of agreement with this CPA firm to complete the audit for an additional amount of $2,500.
Resolution x Ordinance _ Contract _ Other (Specify)
Funding Source
APPROVED FOR SUBMITTAL:
City Manager
STAFF RECOMMENDATION: Adopt Resolution
BOARD/COMMISSION RECOMMENDATION:
COUNCIL ACTION:
Legal/BD
rev effective 7/21/92