PROFESSIONAL_SERVICESRECOMMENDED

City of Palos Verdes Estates Staff Report Approval of a Professional Services Agreement with Vasquez & Company for Professional Independent Audit Services 2026-05-26

City Plans Audit Services Contract with Vasquez & Company

Not to exceed $371,612 (total contract); City expects to expend $59,250 in FY 2026-2027City of Palos Verdes EstatesVASQUEZ & COMPANYMay 26, 2026

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Description

The City of Palos Verdes Estates staff recommends entering into a professional services agreement with Vasquez & Company for independent auditing services from FY 2025-26 through FY 2027-28, with a total compensation cap of $371,612. The contract includes audits of the City, related concessions, and two optional one-year extensions while maintaining compliance with state auditor rotation requirements.

Contract Details

Contract Amount

Not to exceed $371,612 (total contract); City expects to expend $59,250 in FY 2026-2027

Vendor

VASQUEZ & COMPANY

Agency

City of Palos Verdes Estates, CA

Contract Type

PROFESSIONAL_SERVICES

Document Date

May 26, 2026

Contract Term

Fiscal year ending June 30, 2026 through fiscal year ending June 30, 2028, with option for two (2) additional one-year extensions

Renewal Date

2028-06-30

Renewal Info

Initial three-year term through June 30, 2028, with two additional one-year extensions at the City’s option. Engagement partner must be rotated after the 2026 Annual Audit to comply with California Government Code 12410.6(b).