Reso 2019-2899 - Laserfiche WebLink

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City of Sunny Isles Beach December 19, 2018 Page 6 At the conclusion of the engagement,we will complete the appropriate sections of the Data Collection Form, if needed,which summarizes our audit findings. It is management's responsibility to electronically submit the reporting package(including financial statements,schedule of expenditures of federal awards,summary schedule of prior audit findings, auditor's reports, and corrective action plan), along with the Data Collection Form to the federal audit clearinghouse. We will coordinate with you the electronic submission and certification. The Data Collection Form and the reporting package must be submitted within the earlier of thirty(30) calendar days after receipt of the auditor's reports or nine months after the end of the audit period. We will provide copies of our reports to the City; however, management is responsible for distribution of the reports and the financial statements. Unless restricted by law or regulation, or containing privileged and confidential information, copies of our reports are to be made available for public inspection. The audit documentation for this engagement is the property of Moore, Stephens, Lovelace, P.A. (the "Auditor")and constitutes confidential information. However,subject to applicable laws and regulations, audit documentation and appropriate individuals will be made available upon request and in a timely manner to the City Commission or its designee,a federal or state agency providing direct or indirect funding, or the U.S. Government Accountability Office for purposes of a quality review of the audit,to resolve audit findings, or to carry out oversight responsibilities. 'We will notify you of any such request. If requested, access to such audit documentation will be provided under the supervision of the Auditor's personnel. Furthermore, upon request,we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies. The audit documentation for this engagement will be retained for a minimum of five years after the report release date or for any additional period requested by the City Commission. If we are aware that a federal or state awarding agency, pass-through entity,or auditee is contesting an audit finding,we will contact the party(ies)contesting the audit finding for guidance prior to destroying the audit documentation. - We expect to begin our audit in November 2019 and to issue our reports no later than March 2020. William Blend is the engagement shareholder and is responsible for supervising the engagement and signing the reports or authorizing another individual to sign them. Our fee for these services will be fixed fee of$42,500 for the September 30,2019 financial statement audit and the Single Audit, if required. Our standard hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to your audit. The above fee is based on anticipated cooperation from management personnel and the assumption that unexpected circumstances will not be encountered during the audit. If significant additional time is necessary, the Auditor will discuss it with management and arrive at a new fee estimate before they incur the additional costs. This fee will be invoiced at the completion of our engagement. Invoices are due within ten(10)days of the invoice date. Any subsequent discussions, conferences, telephone conversations, correspondence, or related services will be invoiced separately. In accordance with our firm policies,work may be suspended if your account becomes thirty(30) days or more overdue and may not be resumed until your account is paid in full. If we elect to terminate our services for nonpayment, our engagement will be deemed to have been completed upon written notification of termination,even if we have not completed our reports. You will be obligated to compensate us for all time expended and to reimburse us for all out-of-pocket costs through the date of termination. The above fee is based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered during the audit. If significant additional time is necessary,we will discuss it with you and arrive at a new fee estimate before we incur the additional costs. A service charge of 1.5 percent per month will be assessed on any invoice not paid within thirty(30)days of the invoice date. In the event that collection procedures are required,the City agrees to pay all expenses