(A) Requirement for Annual Audit. Annually the Board of Commissioners shall select and contract with a certified public accounting firm which has experience in municipal finance for the purpose of rendering an independent audit of all accounts and other financial records of the City. After completion of any audit by the City, the auditor shall prepare a written report, and shall submit the report to the Board of Commissioners at a meeting of the Board of Commissioners.
(B) Timing for Completion of the Audit. The audit report shall be submitted to the Board of Commissioners within 120 days after the end of the preceding fiscal year for which the audit is being conducted unless an extension has been granted by resolution of the Board of Commissioners.
(C) Availability of the Audit. The audit report shall be made available to the public at cost, upon request.
(D) Selection and Qualifications of Auditor. The personnel of the firm conducting the audit shall not hold any public office in the City nor have any personal interest, direct or indirect, in the fiscal affairs of the City or any of its offices. Unless waived by the Board of Commissioners, the Board of Commissioners shall annually solicit bids for the audit from qualified public accounting firms. Bid solicitation and advertisement shall be according to such rules as may be prescribed by the Board of Commissioners. The Board of Commissioners, when selecting a public accounting firm to conduct the audit, shall do so on the basis of the firm's experience, expertise, efficiency and ability to timely complete the audit and the cost to be charged for the audit. The Board of Commissioners shall not be required to accept the lowest bid for the audit.
(Adopted May 8, 1923; Am. Ord. 633, passed 2-5-02)