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<br />American Appraisal Associates <br /> <br />C. Property Accounting Summary - The standard Property Accounting Summary Report displays <br />description of fields being summarized, original cost, accumulated depreciation, net book value, <br />annual depreciation, projected provision, by account. <br /> <br />D, Property Accounting Ledger Report - The Property Control Report will include all capital <br />assets with a unit cost in excess of the City's capitalization threshold of $1000 and the related <br />historical cost/estimated original cost, accumulated depreciation, and current depreciation data <br />for financial reporting purposes, This information will be sorted and reported upon by account, <br /> <br />E, Insurance Summary - The standard Insurance Summary Report displays description of fields <br />being summarized, cost of reproduction new, and original cost values, <br /> <br />F. Insurance/Property Record Report - The standard Insurance/Property Record Report <br />displays asset tag number, class code, quantity, description, manufacturer's name, model number, <br />serial number, and cost of reproduction new, This information will be sorted and reported by <br />location, <br /> <br />TIMING <br /> <br />Upon receipt of your signed authorization, American Appraisal \vill work closely with the city <br />establish project start, fieldwork and report delivery schedules to meet your reporting requirements, <br /> <br />OPTIONAL SERVICES <br /> <br />DATA DISKETTE <br /> <br />If the City does not have a fixed asset accounting system, the capital asset data We can be <br />reformatted for a spreadsheet or database application (Excel, Lotus 123, Access, dR-\SE, FoxPro, <br />Paradox, etc.), <br /> <br />ANNUAL UPDATE SERVICE - PROPERTY RECORD OUTSOURCING <br /> <br />The City will provide American Appraisal with capital asset additions, retirements, and transfers <br />using hard-copy forms (with instructions), spreadsheet or database formats sent either through mail <br />on a diskette or by utilizing e-mail. <br /> <br />American Appraisal will provide the City with historical cost, current period depreciation and <br />accumulated depreciation of assets, by account for accounting purposes, <br /> <br />American Appraisal will provide an updated fixed asset sub ledger for the City's accounting and <br />financial reporting requirements, <br /> <br />American Appraisal will provide the following reports: <br /> <br />Property Accounting Reports <br />Property Accounting Summary <br />Capital Assets Detail <br />Retirements Report <br />Additions Report <br />Adjustments Report <br />Transfers Report <br /> <br />Insurance Reports <br />Insurance Summary Report <br />Insurance/Property Record Report <br /> <br />City of Sunny Isles Beach <br /> <br />10 <br /> <br />May 18, 2007 <br />2505.07 .027 <br />