ORDINANCE NO. 010432
Authorizing
the Director of Finance to enter into a $273,200.00 contract with Deloitte
& Touche LLP, in connection with the implementation of GASB 34; authorizing
expenditure of up to $298,200.00 in consideration therefor.
WHEREAS,
the Governmental Accounting Standards Board (GASB) is the private-sector
organization that sets financial accounting and reporting standards for state
and local governments. In June 1999, the GASB issued Statement No. 34 (GASB
34), the most comprehensive government accounting rule ever developed. The new
standard will significantly change the way the City reports its finances to the
public; and
WHEREAS,
the methods and implications of reporting municipal infrastructure under GASB
34 are new to the government finance profession, City staff in the Finance
Department and in the many operating departments that will be significantly
affected do not yet know how to translate GASB 34 principles into new work
practices, products, and financial reports; and
WHEREAS,
the Citys financial statements are used to communicate useful financial and
operational information to users of financial statements, the usefulness of
which depends on effective measurement of the Citys economic activities and
the effective communication of those measurements to the users; and
WHEREAS,
the firm of Deloitte & Touche LLP is found to be qualified to assist the
City in the implementation of GASB; NOW, THEREFORE,
BE
IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section
1. That the Director of Finance is hereby authorized to enter a $273,200.00
contract on behalf of the City, with Deloitte & Touche LLP, Certified
Public Accountants, to assist the City with the implementation of GASB 34. A
copy of said contract, in substantial form, is attached hereto and hereby
approved.
Section
2. That the Director of Finance is hereby authorized to expend up to
$298,200.00 as consideration for the services from previously appropriated
funds in the amounts indicated below:
FUND AMOUNT
01-100-012-1051-B GASB
$273,200.00
01-100-012-1051-B Contingency
25,000.00
$298,200.00
__________________________________________________________________
I
hereby certify that there is a balance, otherwise unencumbered, to the credit
of the appropriation to which the foregoing expenditure is to be charged, and a
cash balance, otherwise unencumbered, in the treasury, to the credit of the
fund from which payment is to be made, each sufficient to meet the obligation
hereby incurred.
____________________________________
Director
of Finance
Approved
as to form and legality:
____________________________________
Assistant
City Attorney