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• • • .�,�f.. • City of --t------_... ..,y, - Sunny OsOes Beach -- =1 � •• • SEGMENTATION • The following is a summary of the proposed hours for the financial audit, CAFR, Florida Single Audit, • and Federal Single Audit. • • City of Sunny Isles Beach, Senior Florida Partners Manager Senior Staff Total a • Strategic Planning 8 19 36 30 93 Execution of the Audit Plan 6 15 72 74 167 • Evaluate Audit Results 7 19 27 12 65 • Reporting 9 13 41 12 75 • • 30 66 176 128 400 • • • Michael D. Futterman will serve as the engagement Phase II-Execution of the Audit Plan • partner, Enrique Llerena will serve as the senior manager This phase of the audit is commonly referred to on the engagement. Their role as well as the role of the as fieldwork. The City will receive a detailed listing of • other members of the engagement team are described in the schedules that we will need to perform our fieldwork • Tab 4 of this proposal. My substitution of these individuals procedures at least one month prior to our start date (start must be approved by the City prior to any changes in date will be November 15th as noted in the RFP). This • staffing. process will be completed annually by December 31st. • SCHEDULE FOR CONDUCTING THE AUDIT Phase Ill-Evaluation of Audit Results • Marcum is committed to completing our procedures This phase of the audit includes the "Draft Reports" • within the timeframes specified on page 24 of RFP No. mentioned in the RFP. This process will be completed 4.• 15-12-01 (the RFP) annually by January 15th. • Phase I-Strategic Planning Phase IV- Completion and Delivery • This phase of the audit includes interim work and This phase of the audit includes the items mentioned as well as the communication of the detailed audit plan in the "Date Final Report is Due" section of the RFP. • and the corresponding listing of schedules that we will This process will be completed annually by February • need to perform our fieldwork. The City will receive a 28th in year one and by January 31 for subsequent • detailed listing of the items we will need at least a month years providing the Governmental Accounting Standards prior to the first day of the Strategic Planning. This process Board (GASB) Statement No. 68-Accounting and • will be completed annually by August 31st. Financial Reporting for Pensions, an amendment of • GASB Statement No. 27 information associated with • FRS auditor by that date. Beginning with fiscal year ended September 30, 2015 the City is required to • implement GASB Statement No. 68 due to the City's • participation in the Florida Retirement System. • • • A AARCI IM Proposal for Professional Auditing Services ACCOUNTANTS • ADVISORS www.marcumllp.com a Page 36 ® 1215079F 0