To: Board of Supervisors
From: County Administrative Office
Agenda Section: Departmental
SUBJECT:title
Agreement with Macias Gini & O'Connell LLP and Supplemental Budget (4/5 vote required)
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RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve and authorize the Chair of the Board to execute, the attached professional services agreement (Attachment 1) with Macias Gini & O'Connell LLP (MGO) in the amount of $250,000 for financial advisory services;
2. Direct the County Administrative Officer, or designee thereof, to execute any and all subsequent amendments to the attached professional services agreement with MGO, after review and approval by County Counsel and Risk Management;
3. Adopt the attached supplemental budget (Attachment 2) in the amount of $250,000 for fiscal year (FY) 2020-21 in the County Administrative Office - Management and Budget Team (1100-103) (4/5 vote required); and
4. Direct the Human Resources Department to conduct a classification review and develop classification specifications for the position of chief financial officer.
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SOURCE OF FUNDING:
General Fund
DISCUSSION:
At the Nov. 23, 2020 meeting, your Board resolved to accept responsibility for: (1) the financial statement findings (also knows as "audit findings") issued by the county's independent auditors and included in the Single Audit Report year ended June 30, 2019, and presumably future audit findings, (2) the immediate posting of central service and internal service fund charges as approved through the State Controller's Office Negotiated Agreement (Attachment 3) and as verified by an independent third-party (Attachment 4). Unresolved audit findings can result in future adverse financial outlooks involving the county's credit ratings and related debt refinancing, among other impacts to the county.
As the governance body over the County of Humboldt, your Board has significant fiduciary responsibilities for funds contained in the c...
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