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RFP No. 22-02-01 <br /> <br /> <br /> <br /> 35 <br />www.KMCcpa.com 954.771.0896 support@KMCcpa.com <br />6550 N. Federal Highway <br />4th Floor <br />Fort Lauderdale, FL 33308 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Segment 2 <br />Comprehensive Testing <br />& Analysis <br />Revenue and Receivables <br /> <br />Compare revenues to prior-year actual, current budget, or other expectations <br />deemed necessary. Analyze accounts with significant variations. <br /> <br />Confirm or otherwise validate revenues and accounts receivable, as well as <br />allocations to funds. <br /> <br />Verify the City has satisfied the relevant legal requirements to receive all <br />revenues recorded. <br /> <br />Verify amounts billed for services rendered are valid and have been billed at <br />the authorized rates. <br /> <br />Perform a search for unrecorded receivables by reviewing subsequent cash <br />receipts. <br /> <br />Verify unbilled service revenues are reflected in the proper accounting period. <br /> <br />Review functional classifications of revenues for government-wide financial <br />statements. <br /> <br />Analyze allowances for doubtful accounts for adequacy. <br /> <br />Determine that revenue and receivable disclosures are properly presented in <br />the financial statements. <br /> <br />Expenses and Accounts Payable <br /> <br />Compare expenses to prior-year actual, current budget, or other expectations <br />deemed necessary. Analyze accounts with significant variations. <br /> <br />Determine that recorded expenses and cash disbursements are for goods and <br />services authorized and received. <br /> <br />Verify disbursements have been properly recorded as to account, budget <br />category, period and amount. <br /> <br />Perform a search for unrecorded payables by reviewing subsequent cash <br />disbursements. <br /> <br />Determine contracts and retainage payable are properly recorded. <br /> <br />Review other significant accruals, including any contingent liabilities and <br />management’s estimation process. <br /> <br />Determine that expenses and liabilities are properly presented and disclosed in <br />the financial statements.