Number
260929
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing the Executive Director to enter into a contract for audit services.
Analysis
Body
Whereas, The Government Accounting Standards Board (GASB) requires that component units must be included as part of a local government’s financial reporting entity for a fair presentation of the government’s overall financial operations; and
Whereas, a component unit is a legally separate organization for which the elected officials of the City are accountable based on appointment of governing board, fiscal dependence on the primary government, and if there is a potential threat that exclusion would result in misleading financial reporting on behalf of the City of Milwaukee; and
Whereas, The Redevelopment Authority of the City of Milwaukee is a component unit of the City of Milwaukee; and
Whereas, Per Common Council file #060391, the Redevelopment Authority is required to submit annual audited financial statements to the City Comptroller; and
Whereas, annual audited financial statements are due by June 1st of the following fiscal year; and
Whereas, Staff of the Redevelopment Authority issued a Request for Proposals to retain a consultant to conduct an audit of its financial records and submit a final audit opinion for the calendar years 2026, 2027 2028, 2029, and 2030; and
Whereas, Staff completed the evaluation of the proposal received and recommend awarding the contract to Baker Tilly Virchow Krause, LLP for five years for the afore mentioned services; and
Whereas, it is the expectation of the Redevelopment Authority that funding of the audit services will be come from the Authority’s General Fund; now therefore be it
Resolved, By the Redevelopment Authority of the City of Milwaukee, that the Executive Director is hereby authorized to enter into a contract for such services.
Requestor
Drafter
David Misky October 16, 2026