New Audit Released - Vendor Management

The City Auditor's Office has released a new report covering the City's vendor management processes including vendor due diligence, contract management, and vendor information administration.

The City's vendor procurement and contracting processes adequately reduce risk; though enhanced due diligence processes could be standardized. Additional monitoring and reporting of historically underutilized business procurement utilization could further actualize the City's inclusive contracting goals. Resources to guide staff managing contracts are limited. Contracts are generally clear, though opportunities to include more specific requirements exist. While purchase orders are appropriately approved, reliance on lump sums weakens the three-way match control, seemingly delaying prompt vendor payment. Access to vendor information has not been appropriately restricted and updates are not regularly reviewed. Detailed findings can be seen in the Audit of Vendor Management (PDF) report.