Reso 2007-1106 - Laserfiche WebLink

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Honorable Mayor, City Commissioners City of Sunny Isles Beach May 25, 2007 Page 6 At the conclusion of the engagement, we will complete the appropriate sections of and sign the Data Collection Form that summarizes our audit findings. We will provide our reports to the City of Sunny Isles Beach; however, it is management's responsibility to submit the reporting package (including financial statements, schedule of expenditures of federal awards, summary schedule of prior audit findings, auditors' reports, and a corrective action plan) along with the Data Collection Form to the designated federal clearinghouse and, if appropriate, to pass-through entities. The Data Collection Form and the reporting package must be submitted within the earlier of 30 days after receipt of the auditors' reports or nine months after the end of the audit period, unless a longer period is agreed to in advance by the cognizant or oversight agency for audits. At the conclusion of the engagement, we will provide information to management as to where the reporting packages should be submitted and the number to submit. The audit documentation for this engagement is the property of Rachlin Cohen & Holtz LLP and constitutes confidential information. However, pursuant to authority given by law or regulation, we may be requested to make certain audit documentation available to the City of Sunny Isles Beach or its designee, a federal 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 Rachlin Cohen & Holtz LLP 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 or for any additional period requested by the the City of Sunny Isles Beach. If we are aware that a federal 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 estimate that our fees for this engagement will be $41,250 for $2007; $42,488 for 2008 and $43,763 for 2009 (excluding Federal or Florida Single Audit Act requirements - see below). Our hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to the audit. 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 additional time is required because of unexpected circumstances or for changes in the requirements of the Governmental Accounting Standards Board or our professional auditing standards or changes in the funds structure of the City, we will discuss these circumstances with you and arrive at a new fee estimate before we incur the additional costs. In addition, if the City is required to undergo an audit in accordance with the Federal Single Audit Act and OMB Circular A-133, Audits of States, Local Governments, and Not-for-Profit Organizations Receiving Federal Awards during any year of this contract, the additional fee will be $6,500 for the year ended September 30, 2007; $6,500 for the year ended September 30,2008 and $7,000 for the year ended September 30,2009. This fee is dependent on the number of federal programs that have to be tested as a . !. GJherl ." 1, : ~ I ~~'I&rloltz s\~