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One Biscayne Tower <br />Suite 2800 <br />2 South Biscayne Boulevard <br />Miami FL 33131 <br />January 14. 2000 <br />Mr. Jack Neustadt <br />Finance Director <br />City of Sunny Isles Beach <br />Suite 250 <br />17070 Collins Avenue <br />Sunny Isles Beach, FL 33160 <br />Dear Mr. Neustadt: <br />Telephone 305 358 2300 <br />Fax 305 913 2692 <br />This letter is to confirm our understanding of the terms of our engagement and the nature <br />and limitations of the services we will provide as outlined in our proposal dated <br />December 6, 1999. <br />KPMG LLP (KPMG) is pleased to submit this Engagement letter to the City of Sunny <br />Isles Beach (the City) to provide professional consulting services for the development and <br />preparation of a Full Cost Allocation Plan. The plan will utilize fiscal year's 1999 actual <br />costs, and will be prepared in accordance with Federal Circular A-87, Cost Principles for <br />State and Local Governments. <br />We estimate that an elapsed calendar time of sixty days from the date of commencement <br />would be required to develop and prepare the cost allocation plan, with commencement <br />occurring within two weeks from the notice of contract award. This time frame, of <br />course, is dependent upon the timeliness of requested information furnished by the City. <br />The City will be responsible for the collection of all statistical information used as <br />allocation bases. <br />Our fees for professional services are based on the time and staffing requirements of the <br />engagement, and include all expenses incurred by us. Our total contract costs to perform <br />the professional consulting services will not exceed $10,000. The engagement fee will be <br />billed to the City as follows: 50% of the fee thirty days after the initial fieldwork date. <br />25% upon delivery of the draft report, and 25% upon delivery of the final report. This <br />engagement will be managed and staffed by Ken Carey, with additional assistance <br />provided by Heidi Powell. Both Heidi and Ken are experienced cost allocation <br />consultants. <br />Sane Flaada Su:a.. unit <br />c unowa uE a us �nae tern n.> ,u <br />. mura. d Kl n hxraoml a Svaa asraYm l ua Fon Lauderdale west Patr Beat <br />