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1 MSLMOORE STEPHENS LOVELACE cP.As& ADVISORS IWrap-Up and Reporting • Coordinate review of the Management's • Prepare preliminary drafts of audit I Discussion and Analysis document for reports and management letter, and meet inclusion in the basic financial statements. with management to review drafts prior • Complete all financial disclosure checklists. to issuance. I • Review status of prior-year audit • Schedule and attend final meeting with recommendations and ascertain whether management to finalize all financial they were appropriately resolved. reporting matters. I • Provide current-year audit findings and • Present financial statements to recommendations for improvement related management and the City Commission. to the financial statements, internal control, I accounting, accounting systems, and compliance with policies and procedures. I Level of Staff and Number of Hours to Be Assigned to Each Segment of the Engagement Listed below are the proposed segmentation hours by staff level for the audit of the City. ISunny Isles Beach Staffing Level Segment Shareholder Manager Supervisor/ IT Staff Total Senior SpeclaBst I Engagement Administration and Planning 5 5 10 5 5 30 Evaluation of Entity and internal Controls 2 5 5 5 20 37 Minutes,Contra and Resolutlo a 2 5 2 - 5 la Budget - - 45 9 I Cash Cash ER ava en¢ Investments - 2 - 10 12 Receivables and Cash Receipts 10 ca2 Inventories 3 5 12 6 PPE andpital Expenditures - 2 - 5 7 Accounts Payable g Other Liabilities . 2 10 12 Payroll and Related LIabgities - . 5 10 15 I Long-Tenn Debt and Debt Service Expenditures b2 5 10 5 22 Post Employment Benefit 5 10 5 20 Risk Management 1 10 - 5 16 Net Position and fund Balance 2 - 10 - 5 17 I Revenues and Eaperditures/Espenses - - S - 10 15 Utilities 5 10 10 25 Grants5 5 10 - $ 25 Wrap-Up and Reporting 16 20 30 - 10 76 40 50 130 10 140 370 ISample Size and Extent Statistical Sampling Is to be Used in the Engagement We will follow the guidance of SAS No. 39,Audit Sampling, in using a non-statistical approach. MSL uses Ithis guidance, along with our professional judgment, to develop a logical process that includes assessing inherent risk, control risk, and combined audit risk, to determine where sampling is deemed appropriate and effective,as well as in the determination of sample sizes. 1 Sample sizes will vary, depending on the nature of the testing (compliance versus substantive), and the size of the population being sampled. Our utilization of sampling generally centers on compliance and I controls testing, rather than substantive testing of account balances. Sample sizes for compliance and controls testing are based upon professional guidance. I Audit sampling is the application of an audit procedure to less than 100%of the items within an account balance or class of transactions for the purpose of evaluating some characteristic of the balance or class. 43 Tr, I _ 30( I 1