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The transition in wholesale power provider, electric service territory acquisition, and the sale of a <br /> department are significant transactions, all of which occur very infrequently in the municipal <br /> world. In fact, most municipal utilities will never undergo all of these transactions within their <br /> existence much less have all three occurring at the same time. This situation creates a significant <br /> value add for AEM because of their involvement in the financial planning for these major <br /> transactions. <br /> While it is appropriate to evaluate a long standing relationship of an auditor and client, we have <br /> had other auditors in the history of our organization and don't feel the need to make a change this <br /> year, given our circumstances. We do recognize that it is very convenient to utilize the same <br /> auditors at the City and ERMU, and feel that AEM would work diligently with a new auditor at <br /> the City to ensure there is an appropriate transfer of information for the CAFR, especially <br /> knowing firsthand the work that it takes to prepare the documents. <br /> On October 3rd the City Council approved the five year contract with CLA. The City <br /> Administrator informed the Council that if ERMU selects a different auditor that it would not be <br /> a reporting issue for the City. Also, it should be noted that this would not have a negative <br /> financial impact to the City. Taking all these things into consideration, staff recommends <br /> retaining the auditing services of Abdo, Eick, and Meyers for the next five years. <br /> ACTION REQUESTED: <br /> Approve the staff recommendation of retaining the existing auditors for the next five years. <br /> ATTACHMENTS: <br /> • 2016 Audit Proposals Pricing <br /> . "� POWERED BY <br /> Page 2 of 2 <br /> NATURE <br /> Reliable Public <br /> Power Provider P OWERED T O S ERY E <br /> A4 <br />