That Quotation Q24-122 Audit Services, be awarded to KPMG LLP, Kitchener, ON, at their estimated fee of $589,300 plus HST of $76,609 for a total of $665,909 for a three (3) year term with an option to renew for two (2) additional one (1) year terms beginning with the fiscal year ending December 31, 2024, for the Corporation of the City of Kitchener, its Boards and Municipal Enterprises including the Waterloo Region Municipalities Insurance Pool with the fiscal year ending May 31, 2025, as outlined in Financial Services Department report, FIN-2024-450, and further;
That Chapter 103 of the City of Kitchener’s Municipal Code be amended to reflect the appointment of KPMG LLP as the City’s Auditor for the fiscal years 2024, 2025, and 2026. Upon the recommendation of the Chief Financial Officer, Council may consider a by-law amendment to extend KPMG LLP’s appointment for fiscal years 2027 and 2028 at the appropriate time.