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<br />Page 2 <br /> <br />including infrastructure assets and 'historical treasures'. This means that the City needs to report <br />in a complete, accurate and detailed manner to adequately account for and report their capital <br />asset activity. <br /> <br />The proposal from American Appraisal Associates (AAA) will allow the City to come into <br />compliance with GASB 34 as well as further improve our financial accountability through <br />improved accounting procedures. Compliance will be maintained on an ongoing basis by <br />utilizing the City's current financial software's fixed asset module. AAA will work closely with <br />all City departments, insurers and our auditors to assure that all financial records are properly <br />updated and maintained on an ongoing basis. <br /> <br />While the amount of our contract does not require formal competitive bids, we are nonetheless <br />proposing to 'piggyback' from a competitive bid award by the City of Cocoa, Florida. In <br />addition, please note that American Appraisal Associates has performed similar work for <br />hundreds of customers throughout the USA and parts of Florida. (see attached) <br />