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I I SECTION VI.S - REQUIREMENTS OF THE TECHNICAL PROPOSAL (Continlled) I 8. SPECIFIC AUDIT APPROACH SCOPE I WORK PRODUCTS I RESULTS I BKR Garcia will perform an audit of the government-wide financial statements and related governmental funds financial statements for the fiscal years ending September 30, 2007, 2008 and 2009, in order to express an opinion on the fair presentation of the City's financial statements in conformity with accounting principles generally accepted in the United States of America. Our audit will be conducted under Auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; the Office of Management and Budget Circular A- 133, Audits of States, Local Governments, and Non-Profit Organizations; and Chapter 10.550 Rules of the Auditor General. Our audit will include procedures to determine whether the operations of the City are properly conducted in accordance with legal, regulatory, grant and contractual requirements, including Florida Statutes, Federal Laws and the City Commission's policies and procedures. I I I I We will provide an "in relation to" report on the combining and individual fund financial statements and supporting schedules based on the auditing procedures applied during the audit of the general- purpose financial statements, and perform certain limited procedures involving required "Management's Discussion and Analysis" and supplementary information required by the Governmental Accounting Standards Board. I We will also: I ~ Determine the financial report the City filed with the Department of Banking and Finance is in agreement with the financial statements for each fiscal year. ~ Assist the City in complying with the requirements of the Auditor General regarding the City's assessment of its financial condition. >- Prepare a management letter pursuant to the requirements of the Auditor General of the State of Florida. >- Assist with the preparation of depreciation schedules for government-wide statements. >- Assist with the preparation of schedule of state and federal awards. >- Prepare data collection form. >- Assist with the preparation of the Comprehensive Annual Financial Report (CAFR) for submission to the Government Finance Officer Association (GFOA) of United Sates and Canada for consideration in obtaining the Certificate of Achievement for Excellence in Financial Reporting. I I I I The firm will issue the following reports in accordance with applicable rules and standards no later than February 28, 2008 for fiscal year 2007 and by January 31 of each subsequent fiscal year: I ~ Report on an audit of the financial statements conducted in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. ~ Report on Internal Control over Financial Reporting and Compliance and Other Matters based on an audit of Financial Statements in Accordance with Government Auditing Standards. ~ Report on Compliance and Internal Control over Compliance Applicable to each Major State and Federal Programs in accordance with OMB Circular A-133. I I I I J ~KR~~.~~ 27