Section 4.10 of the Town's Charter provides that the Council shall provide for an annual independent audit of all Town accounts and may provide more frequent audits as it deems necessary.

The auditing services of GLSC and Company will expire with the completion of their audit for the fiscal year ending September 30, 2015. Generally, selection committees are appointed by the Town Manager and they make a recommendation to the Town Manager who in turn, makes a recommendation to the Town Council. However, pursuant toF.S. 218.391,the governing body shall establish an audit committee whose primary purpose is to assist the governing body in selecting an auditor to conduct the required annual financial audit required by section 218.39.

In addition to requiring that the audit committee be established by the governing body,F.S. 218.391 also provides that the audit committee shall :

1.) Establish evaluation factors to be used in the RFP;
2.) Publicly announce requests for proposals;
3.) Provide interested firms with a request for proposal;
4.) Receive and evaluate proposals from qualified firms. (Must be certified/licensed public accounting firms).
5.) Rank and recommend in order of preference no fewer than three (3) of the most highly-qualified firms. (If fewer than three (3) proposals were received, then the one (1) or two (2) firms the committee recommends as the most highly-qualified).

In the event that no satisfactory contract can be accomplished with any of the recommended firms, the committee must recommend additional firms, and negotiations must continue until an agreement is reached in accordance with section 218.391, Fla. Stat.

I recommend the following individuals to serve on the Audit Selection Committee:

• Allison R. Williams, CPA, CGFO, CGMA, Chief Financial Officer, City of Miami Beach
• Andre L Teixeira, CPA, Chief Financial Officer, The Graham Companies
• Ismael Diaz, MBA, Finance Director, Town of Miami Lakes
• Amber Riviere, Chief Financial Officer, Village of Bal Harbor