Per Florida Statute 215.39 - Annual Financial Audit Reports, the financial records of the City of Oakland Park must be audited on an annual basis. The purpose of the audit is to ensure that the financial statements are presented fairly and in conformity with accounting principles generally accepted in the United States of America. In relation to the financial statement audit, the Annual Comprehensive Financial Report, a Report on Compliance and Internal Control over Financial Reporting, and a Management Letter, are issued. Also, as the City is generally awarded grants that exceed the minimum threshold for mandatory reporting, a Single Audit Report must also be issued pursuant to the Federal Single Audit Act of 1984 and Florida Statute 215.97 - Florida Single Audit Act.
Per Florida Statute 218.391 - Auditor Selection Procedures, each local government shall use auditor selection procedures outlined in the statute when selecting an auditor to conduct the annual audit. To assist in the selection process, the governing body shall establish an audit committee and adhere to certain procedures outlined in the State Statute. These procedures were incorporated into the City's Auditor Selection Committee, which is attached for reference.
The committee consists of five members, which includes two (2) members with professional experience in public finance and two (2) Oakland Park residents. A member of the City Commission is required to serve as the fifth member and chair of the committee. Commissioner Arnst has been appointed as the chair of the committee. The City has received four applications for consideration by Commission:
- Jeff Barnes - Resident Applicant
- Ernest Olivas - Resident Applicant
- Sherry Walker - Public Finance Applicant
- Wilbert Santos - Public Finance Applicant
Copies of their applications are attached for review.
The committee will be assisted by the Procurement Division of the Financial Services Department. It is expected that the committee will meet two to three times: one initial meeting to approve the solicitation and evaluation criteria and a second meeting to evaluate and rank proposals. Additional meetings may be held should the committee elect to have proposers make presentations.