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RFP No. 22-02-01 <br /> <br /> <br /> <br /> 37 <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 />Segment 2 <br />Comprehensive Testing <br />& Analysis <br />Determine that inventory is properly valued and recorded. <br /> <br />Determine that inventories are properly presented and disclosed in the <br />financial statements. <br /> <br />Long Term Debt <br /> <br />Confirmation of debt with financial institutions. <br /> <br />Review of interest expense for reasonableness. <br /> <br />Review of compliance with debt covenants. <br /> <br />Obtain and review arbitrage calculations. <br /> <br />Determine that long term debt is properly presented and disclosed in the <br />financial statements. <br /> <br />Fund Balance and Net Position <br /> <br />Balances will be rolled forward from the prior year and recalculated. <br /> <br />Restricted balances will be agreed to external restrictions or enabling <br />legislation. <br /> <br />Committed and assigned balances will be agreed to ordinances and resolutions <br />of the City Commission. <br /> <br />Determine that fund balance and net position is properly presented and <br />disclosed in the financial statements. <br /> <br />Pensions, OPEB Liabilities and Self-Insurance <br /> <br />Obtain valuation reports from actuaries. <br /> <br />Evaluate the methods and assumptions used to calculate the liabilities, <br />including the assumptions used in developing the models. <br /> <br />Testing of the inputs given to the City’s actuaries will be conducted to <br />determine that the valuations were created with accurate data. <br /> <br />We will evaluate the professional credentials of the City’s actuaries and <br />confirm their independence. <br /> <br />Keefe McCullough will provide custom templates for City to perform <br />appropriate entries as needed. <br /> <br />Determine that information is properly presented and disclosed in the <br />financial statements.