HomeMy WebLinkAboutR-2021-177 Audit Services RFP Ranking and Agreement with Keefe McCulloughRESOLUTION NO 2021-177
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, APPROVING THE RANKING OF QUALIFIED AUDIT
FIRMS AND AUTHORIZING THE CITY ADMINISTRATION TO
NEGOTIATE AN AGREEMENT WITH KEEFE MCCULLOUGH FOR AUDIT
SERVICES FOR FISCAL YEAR 2021 THROUGH FISCAL YEAR 2025 AND
TO EXCEED THE CITY'S ANNUAL VENDOR THRESHOLD TOTAL
AMOUNT OF TWENTY FIVE THOUSAND DOLLARS ($25,000.00);
PROVIDING FOR CONFLICTS; FURTHER, PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the Charter of the City of Dania Beach, Part IIl, Article 3, Section 4,
Subsection 0), authorizes the City Manager to purchase supplies, services, equipment and
materials for the City government in amounts in excess of the established monetary threshold
without competitive bidding and without advertisement for bids if she is authorized to do so in
advance by a resolution adopted by the City Commission; and
WHEREAS, the Dania Beach Code of Ordinances, Chapter 2, Article 1, Section 2-10,
"Monetary thresholds for certain purchases and payment disbursement authorizations", Subsection
(a), sets the monetary threshold at Twenty -Five Thousand Dollars ($25,000.00) for a vendor each
fiscal year; and
WHEREAS, on June 8, 2021, the City Commission authorized the Finance Department to
solicit proposals from qualified audit firms to conduct the annual audit of the City and CRA and
appointed a committee consisting of Commissioner Lauren Odman and three local government
finance practitioners; and
WHEREAS, in accordance with Florida Statutes, the committee met on August 4, 2021,
to finalize the format of the request for proposals (RFP) document and the RFP was formally issued
on August 9, 2021; and
WHEREAS, proposals from firms were received on September 9, 2021, from Caballero
Fierman Llerena & Garcia LLP; S. Davis & Associates P.A; Marcum LLP; Mauldin & Jenkins
LLC and Keefe McCullough; and
WHEREAS, the initial rankings were separated by a close point margin and the
Committee elected to hear oral presentations from Keefe McCullough and Marcum LLP; and
WHEREAS, following the presentations, the committee finalized the rank of the top three
(3) firms as follows:
1. Keefe McCullough
2. Marcum LLP
3. Caballero Fierman Llerena & Garcia LLP; and
WHEREAS, the Finance Department recommends that the City Commission accept these
rankings and authorize the City Administration to negotiate final terms with the top ranked firm
Keefe McCullough to provide audit services for a five (5) year term with three (3) optional one-
year renewal terms;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. That the above "Whereas" clauses are true and correct, and they are made a
part of and are incorporated into this Resolution by this reference.
Section 2. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 3. That the City Administration is authorized to negotiate final terms and
execute an agreement with Keefe McCullough for the audit of fiscal years 2021 through 2025,
with three (3) optional one year renewal terms, as set forth in the Engagement Letter which is
attached as Exhibit "A" and is made a part of and incorporated into this Resolution by this
reference.
Section 4. The compensation to Keefe McCullough is within the FY2022 budget
appropriations for audit services.
Section 5. That expenditures under the agreement with Keefe McCullough are
authorized to exceed the annual vendor threshold amount of Twenty -Five Thousand Dollars
($25,000.00) for each year the contract is in effect and funding is available in the 2021-2022 fiscal
budget.
Section 6. That this Resolution shall be in force and take immediately upon its passage
and adoption.
2 RESOLUTION #2021-177
PASSED AND ADOPTED on November 9, 2021.
ATTEST:
THOMAS SCHNEIDER, CMC
CITY CLERK
APPROVED
�-
THOMAS' J. fNSPRO
CITY ATTORNEY
oA g�c
yAb-
TAMARA JAMES
MAYOR
M AND CORRECTNESS:
3
RESOLUTION 42021-177
5(D
Keefe
WcCullough
CPA's+ Trusted Advisors
October 28, 2021
Ms. Ana M. Garcia, City Manager
and Members of the City Commission
City of Dania Beach, Florida
100 W Dania Beach Blvd
Dania Beach, FL 33004
Dear Ms. Garcia and Members of the City Commission:
We are pleased to confirm our understanding of the services we are to provide the City of Dania Beach,
Florida (the "City") forthe years ending September 30, 2021, 2022, 2023, 2024 and 2025, with the option
of three (3) additional one (1) year renewals. We will audit the financial statements of the governmental
activities, the business -type activities, each major fund, and the aggregate remaining fund information,
including the related notes to the financial statements, which collectively comprise the basic financial
statements, of the City as of and for the years ending September 30, 2021, 2022, 2023, 2024 and 2025,
with the option of three (3) additional one (1) year renewals. Accounting standards generally accepted
in the United States of America provide for certain required supplementary information, such as
management's discussion and analysis (MD&A), to supplement the City's basic financial statements.
Such information, although not a part of the basic financial statements, is required by the Governmental
Accounting Standards Board who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic, or historical context. As part of our
engagement, we will apply certain limited procedures to the City's RSI in accordance with auditing
standards generally accepted in the United States of America. These limited procedures will consist of
inquiries of management regarding the methods of preparing the information and comparing the
information for consistency with management's responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We
will not express an opinion or provide any assurance on the information because the limited procedures
do not provide us with sufficient evidence to express an opinion or provide any assurance. The following
RSI is required by generally accepted accounting principles and will be subjected to certain limited
procedures, but will not be audited:
1. Management's Discussion and Analysis.
2. Budgetary Comparison Schedules.
3. GASB - Required Supplementary Pension Schedules.
4. Other Post -Employment Health Care Benefits (OPEB) Schedules.
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We have also been engaged to report on supplementary information other than RSI that accompanies
the City's financial statements. We will subject the following supplementary information to the auditing
procedures applied in our audit of the financial statements and certain additional procedures, including
comparing and reconciling such information directly to the underlying accounting and other records
used to prepare the financial statements or to the financial statements themselves, and other additional
procedures in accordance with auditing standards generally accepted in the United States of America,
and we will provide an opinion on it in relation to the financial statements as a whole, in a report
combined with our auditor's report on the financial statements:
1. Schedule of Expenditures of Federal Awards and State Financial Assistance, if applicable.
2. Combining and Individual Non -Major Fund Financial Statements and Budgetary Comparison
Schedules.
The following other information accompanying the financial statements will not be subjected to the
auditing procedures applied in our audit of the financial statements, and our auditor's report will not
provide an opinion or any assurance on that other information:
1. Introductory Section
2. Statistical Section
We will also issue a stand-alone financial statement for the Dania Beach Community Redevelopment
Agency for the years ending September 30, 2021, 2022, 2023, 2024 and 2025, with the option of three
(3) additional one (1) year renewals.
Audit Objectives
The objective of our audit is the expression of opinions as to whether your financial statements are fairly
presented, in all material respects, in conformity with U.S. generally accepted accounting principles and
to report on the fairness of the supplementary information referred to in the second paragraph when
considered in relation to the financial statements as a whole. The objective also includes reporting on -
Internal control over financial reporting and compliance with provisions of laws, regulations,
contracts, and award agreements, noncompliance with which could have a material effect on
the financial statements in accordance with Government Auditing Standards.
Internal control over compliance related to major programs and projects and an opinion (or
disclaimer of opinion) on compliance with federal and state statutes, regulations, and the
terms and conditions of federal awards and state projects that could have a direct and
material effect on each major program and project in accordance with the Single Audit Act
Amendments of 1996, Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance) and the Department of Financial Services State Projects Compliance
Supplement.
The Government Auditing Standards report on internal control over financial reporting and on
compliance and other matters will include a paragraph that states that (1) the purpose of the report is
solely to describe the scope of testing of internal control and compliance and the results of that testing,
and not to provide an opinion on the effectiveness of the entity's internal control or on compliance, and
(2) the report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the entity's internal control and compliance. The Uniform Guidance and
Chapter 10.550, Rules of the Auditor General report on internal control over compliance will include a
paragraph that states that the purpose of the report on internal control over compliance is solely to
describe the scope of testing of internal control over compliance and the results of that testing based on
the requirements of the Uniform Guidance and Chapter 10.550, Rules of the Auditor General. Both
reports will state that the report is not suitable for any other purpose.
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Our audit will be conducted in accordance with auditing standards generally accepted in the United
States of America; the standards for financial audits contained in Government Auditing Standards, issued
by the Comptroller General of the United States; the Single Audit Act Amendments of 1996; the
provisions of the Uniform Guidance; Chapter 10.550, Rules of the Auditor General, and will include tests
of accounting records, a determination of major program(s) and projects(s) in accordance with the
Uniform Guidance and Chapter 10.550, Rules of the Auditor General, and other procedures we consider
necessary to enable us to express such opinions. We will issue written reports upon completion of our
single audit. Our reports will be addressed to the Honorable Mayor, Members of the City Commission
and the City Manager. We cannot provide assurance that unmodified opinions will be expressed.
Circumstances may arise in which it is necessary for us to modify our opinions or add emphasis -of -matter
or other -matter paragraphs. If our opinions are other than unmodified, we will discuss the reasons with
you in advance. If, for any reason, we are unable to complete the audit or are unable to form or have
not formed opinions, we may decline to express opinions or issue reports, or we may withdraw from this
engagement.
We will not audit the financial statements of the City of Dania Beach Police and Firefighters Pension Plan.
These financial statements will be included as part of the Fiduciary Fund totals and also combining
statements. These financial statements will be audited by other independent auditors whose report will
be furnished to us, and our opinion, insofar as it relates to the amounts included in the City's Annual
Comprehensive Financial Report, will be based solely on the reports of the other independent auditors.
Audit Procedures -General
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; therefore, our audit will involve judgment about the number of transactions to be
examined and the areas to be tested. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluatingthe overall presentation of the financial statements. We will plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement, whether from (1) errors, (2) fraudulent financial reporting, (3) misappropriation
of assets, or (4) violations of laws or governmental regulations that are attributable to the government
or to acts by management or employees acting on behalf of the government. Because the determination
of abuse is subjective, Government Auditing Standards do not expect auditors to provide reasonable
assurance of detecting abuse.
Because of the inherent limitations of an audit, combined with the inherent limitations of internal
control, and because we will not perform a detailed examination of all transactions, there is a risk that
material misstatements or noncompliance may exist and not be detected by us, even though the audit
is properly planned and performed in accordance with U.S. generally accepted auditing standards and
Government Auditing Standards. In addition, an audit is not designed to detect immaterial
misstatements or violations of laws or governmental regulations that do not have a direct and material
effect on the financial statements or major programs/projects. However, we will inform the appropriate
level of management of any material errors, any fraudulent financial reporting, or misappropriation of
assets that come to our attention. We will also inform the appropriate level of management of any
violations of laws or governmental regulations that come to our attention, unless clearly
inconsequential, and of any material abuse that comes to our attention. We will include such matters in
the reports required for a single audit. Our responsibility as auditors is limited to the period covered by
our audit and does not extend to any later periods for which we are not engaged as auditors.
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Our procedures will include tests of documentary evidence supporting the transactions recorded in the
accounts, and may include tests of the physical existence of inventories, and direct confirmation of
receivables and certain other assets and liabilities by correspondence with selected individuals, funding
sources, creditors, and financial institutions. We will request written representations from your
attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the
conclusion of our audit, we will require certain written representations from you about your
responsibilities for the financial statements; schedule of expenditures of federal awards and state
financial assistance; federal and state award programs; compliance with laws, regulations, contracts, and
grant agreements; and other responsibilities required by generally accepted auditing standards.
Audit Procedures -Internal Control
Our audit will include obtaining an understanding of the government and its environment, including
internal control, sufficient to assess the risks of material misstatement of the financial statements and
to design the nature, timing, and extent of further audit procedures. Tests of controls may be performed
to test the effectiveness of certain controls that we consider relevant to preventing and detecting errors
and fraud that are material to the financial statements and to preventing and detecting misstatements
resulting from illegal acts and other noncompliance matters that have a direct and material effect on the
financial statements. Our tests, if performed, will be less in scope than would be necessary to render an
opinion on internal control and, accordingly, no opinion will be expressed in our report on internal
control issued pursuant to Government Auditing Standards.
As required by the Uniform Guidance and Chapter 10.550, Rules of the Auditor General, we will perform
tests of controls over compliance to evaluate the effectiveness of the design and operation of controls
that we consider relevant to preventing or detecting material noncompliance with compliance
requirements applicable to each major federal award program and state project. However, our tests will
be less in scope than would be necessary to render an opinion on those controls and, accordingly, no
opinion will be expressed in our report on internal control issued pursuant to the Uniform Guidance and
Chapter 10,550, Rules of the Auditor General.
An audit is not designed to provide assurance on internal control or to identify significant deficiencies or
material weaknesses. Accordingly, we will express no such opinion. However, during the audit, we will
communicate to management and those charged with governance internal control related matters that
are required to be communicated under AICPA professional standards, Government Auditing Standards,
the Uniform Guidance and Chapter 10.550, Rules of the Auditor General.
Audit Procedures -Compliance
As part of obtaining reasonable assurance about whether the financial statements are free of material
misstatement, we will perform tests of the City's compliance with provisions of applicable laws,
regulations, contracts, and agreements, including grant agreements. However, the objective of those
procedures will not be to provide an opinion on overall compliance and we will not express such an
opinion in our report on compliance issued pursuant to Government Auditing Standards.
The Uniform Guidance and Chapter 10.550, Rules of the Auditor General requires that we also plan and
perform the audit to obtain reasonable assurance about whether the auditee has complied with
applicable federal and state statutes, regulations, and the terms and conditions of federal and state
awards applicable to major programs and projects. Our procedures will consist of tests of transactions
and other applicable procedures described in the OMB Compliance Supplement and Chapter 10.550,
Rules of the Auditor General for the types of compliance requirements that could have a direct and
material effect on each of the City's major programs and projects. The purpose of these procedures will
be to express an opinion on the City's compliance with requirements applicable to each of its major
programs and projects in our report on compliance issued pursuant to the Uniform Guidance and
Chapter 10.550, Rules of the Auditor General.
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We will also assist in preparing the financial statements, schedule of expenditures of federal awards and
state financial assistance, and related notes of the City in conformity with U.S. generally accepted
accounting principles, the Uniform Guidance and Chapter 10.550, Rules of the Auditor General based on
information provided by you. These nonaudit services do not constitute an audit under Government
Auditing Standards and such services will not be conducted in accordance with Government Auditing
Standards. We will perform the services in accordance with applicable professional standards. The other
services are limited to the financial statements, schedule of expenditures of federal awards and state
financial assistance, and related notes services previously defined. We, in our sole professional
judgment, reserve the right to refuse to perform any procedure or take any action that could be
construed as assuming management responsibilities.
Management Responsibilities
Management is responsible for (1) designing, implementing, establishing and maintaining effective
internal controls relevant to the preparation and fair presentation of financial statements that are free
from material misstatement, whether due to fraud of error, including internal controls over federal and
state awards, and for evaluating and monitoring ongoing activities to help ensure that appropriate goals
and objectives are met; (2) following laws and regulations; (3) ensuring that there is reasonable
assurance that government programs are administered in compliance with compliance requirements;
and (4) ensuring that management and financial information is reliable and properly reported.
Management is also responsible for implementing systems designed to achieve compliance with
applicable laws, regulations, contracts, and grant agreements. You are also responsible for the selection
and application of accounting principles; for the preparation and fair presentation of the financial
statements, schedule of expenditures of federal awards and state financial assistance, and all
accompanying information in conformity with U.S. generally accepted accounting principles; and for
compliance with applicable laws and regulations (including federal and state statutes) and the provisions
of contracts and grant agreements (including award agreements). Your responsibilities also include
identifying significant contractor relationships in which the contractor has responsibility for program
compliance and for the accuracy and completeness of that information.
Management is also responsible for making all financial records and related information available to us
and for the accuracy and completeness of that information. You are also responsible for providing us
with (1) access to all information of which you are aware that is relevant to the preparation and fair
presentation of the financial statements, (2) access to personnel, accounts, books, records, supporting
documentation, and other information as needed to perform an audit under the Uniform Guidance and
Chapter 10.550, Rules of the Auditor General, (3) additional information that we may request for the
purpose of the audit, and (4) unrestricted access to persons within the government from whom we
determine it necessary to obtain audit evidence.
Your responsibilities include adjusting the financial statements to correct material misstatements and
confirming to us in the management representation letter that the effects of any uncorrected
misstatements aggregated by us during the current engagement and pertaining to the latest period
presented are immaterial, both individually and in the aggregate, to the financial statements taken as a
whole.
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You are responsible for the design and implementation of programs and controls to prevent and detect
fraud, and for informing us about all known or suspected fraud affecting the government involving (1)
management, (2) employees who have significant roles in internal control, and (3) others where the
fraud could have a material effect on the financial statements. Your responsibilities include informing us
of your knowledge of any allegations of fraud or suspected fraud affecting the government received in
communications from employees, former employees, grantors, regulators, or others. In addition, you
are responsible for identifying and ensuring that the government complies with applicable laws,
regulations, contracts, agreements, and grants. Management is also responsible for taking timely and
appropriate steps to remedy fraud and noncompliance with provisions of laws, regulations, contracts,
and grant agreements, or abuse that we report. Additionally, as required by the Uniform Guidance and
Chapter 10.550, Rules of the Auditor General, it is management's responsibility to evaluate and monitor
noncompliance with federal and state statutes, regulations, and the terms and conditions of federal and
state awards, take prompt action when instances of noncompliance are identified including
noncompliance identified in audit findings; promptly follow up and take corrective action on reported
audit findings; and to prepare a summary schedule of prior audit findings and a separate corrective
action plan. The summary schedule of prior audit findings should be available for our review during our
preliminary work.
You are responsible for identifying all federal and state awards received and understanding and
complying with the compliance requirements and for the preparation of the schedule of expenditures
of federal awards and state financial assistance (including notes and noncash assistance received) in
conformity with the Uniform Guidance and Chapter 10.550, Rules of the Auditor General. You agree to
include our report on the schedule of expenditures of federal awards and state financial assistance in
any document that contains and indicates that we have reported on the schedule of expenditures of
federal awards and state financial assistance. You also agree to include the audited financial statements
with any presentation of the schedule of expenditures of federal awards and state financial assistance
that includes our report thereon. Your responsibilities include acknowledging to us in the written
representation letter that (1) you are responsible for presentation of the schedule of expenditures of
federal awards and state financial assistance in accordance with the Uniform Guidance and Chapter
10.550, Rules of the Auditor General; (2) you believe the schedule of expenditures of federal awards and
state financial assistance, including its form and content, is stated fairly in accordance with the Uniform
Guidance and Chapter 10.550, Rules of the Auditor General; (3) the methods of measurement or
presentation have not changed from those used in the prior period (or, if they have changed, the reasons
for such changes); and (4) you have disclosed to us any significant assumptions or interpretations
underlying the measurement or presentation of the schedule of expenditures of federal awards and
state financial assistance.
You are also responsible for the preparation of the other supplementary information, which we have
been engaged to report on, in conformity with U.S. generally accepted accounting principles. You agree
to include our report on the supplementary information in any document that contains, and indicates
that we have reported, on the supplementary information. You also agree to include the audited
financial statements with any presentation of the supplementary information that includes our report
thereon. Your responsibilities include acknowledging to us in the written representation letter that (1)
you are responsible for presentation of the supplementary information in accordance with GAAP; (2)
you believe the supplementary information, including its form and content, is fairly presented in
accordance with GAAP; (3) the methods of measurement or presentation have not changed from those
used in the prior period (or, if they have changed, the reasons for such changes); and (4) you have
disclosed to us any significant assumptions or interpretations underlying the measurement or
presentation of the supplementary information.
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Management is responsible for establishing and maintaining a process for tracking the status of audit
findings and recommendations. Management is also responsible for identifying and providing report
copies of previous financial audits, attestation engagements, performance audits, or other studies
related to the objectives discussed in the Audit Objectives section of this letter. This responsibility
includes relaying to us corrective actions taken to address significant findings and recommendations
resulting from those audits, attestation engagements, performance audits, or studies. You are also
responsible for providing management's views on our current findings, conclusions, and
recommendations, as well as your planned corrective actions, for the report, and for the timing and
format for providing that information.
You agree to assume all management responsibilities relating to the financial statements, schedule of
expenditures of federal awards and state financial assistance, and related notes, and any other nonaudit
services we provide. You will be required to acknowledge in the management representation letter our
assistance with preparation of the financial statements, schedule of expenditures of federal awards and
state financial assistance, and related notes and that you have reviewed and approved the financial
statements, schedule of expenditures of federal awards and state financial assistance, and related notes
prior to their issuance and have accepted responsibility for them. Further, you agree to oversee the
nonaudit services by designating an individual, preferably from senior management, with suitable skill,
knowledge, or experience; evaluate the adequacy and results of those services; and accept responsibility
for them.
Engagement Administration, Fees, and Other
We understand that your employees will prepare all cash, accounts receivable, or other confirmations
we request and will locate any documents selected by us for testing.
At the conclusion of the engagement, we will complete the appropriate sections of the Data Collection
Form that summarizes our audit findings. It is management's responsibility to electronically submit the
reporting package (including financial statements, schedule of expenditures of federal awards, summary
schedule of prior audit findings, auditor's reports, and corrective action plan) along with the Data
Collection Form to the Federal Audit Clearinghouse. We will coordinate with you the electronic
submission and certification. If applicable, we will provide copies of our report for you to include with
the reporting package you will submit to pass -through entities. The Data Collection Form and the
reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditor's
reports or nine months after the end of the audit period.
We will provide copies of our reports to the City; however, management is responsible for distribution
of the reports and the financial statements. Unless restricted by law or regulation, or containing
privileged and confidential information, copies of our reports are to be made available for public
inspection.
The audit documentation for this engagement is the property of Keefe McCullough and constitutes
confidential information. However, subject to applicable laws and regulations, audit documentation and
appropriate individuals will be made available upon request and in a timely manner to the Auditor
General 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 Keefe McCullough 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.
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The audit documentation for this engagement will be retained for a minimum of five years after the
report release date or for any additional period requested by the agencies listed above. 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.
Our proposed fees are included in RFP 21-021 for Professional Auditing Services as Appendix D, a copy
of which is also attached. Our invoices for these services will be rendered each month as work
progresses and are payable on presentation.
We appreciate the opportunity to be of service to the City of Dania Beach, Florida and believe this letter
accurately summarizes the significant terms of our engagement. If you have any questions, please let us
know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed
copy and return it to us.
Very tr
uly yours,
KEEF
Willic*n G.113enson, C.P.A.
RESPONSE:
This letter correctly sets forth the understanding of the City of Dania Beach, Florida.
Signature
Print Name
Title
Date
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APPENDIX D
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES
FOR THE AUDIT OF THE FISCAL YEAR 2021 2022, 2023, 2024, 2025
FINANCIAL STATEMENTS
ALL-INCLUSIVE PROPOSED COST
The following cost proposal form is a not -to -exceed amount for providing independent audit
services, issuing an opinion, and publishing an Annual Comprehensive Financial Report. Please
note that pricing will be ranked based on the audit of financial statement component only.
SINGLE
ALL-INCLUSIVE
AUDIT OF
AUDIT/PROGRAM
PROPOSED COST TO
FINANCIAL
SPECIFIC AUDIT
CONDUCT AUDIT
STATEMENTS
PER PROGRAM
DBCRA AUDIT
a. FY 2020-2021
$ 42,000
$ 3 000
$ 12 000
b. FY 2021-2022
$ 42,000
$ 3,000
$ 12 000
c. FY 2022-2023
$ 44,000
$ 3 000
$12,000
d. FY 2023-2024
$ 44 000
$ 3 000
$ 12 000
e. FY 2024-2025
$ 46 000
$ 3,000
$12,000
OPTIONAL RENEWAL YEARS
f. FY 2025-2026
$ 46 000
$3,000
$12.000
g. FY 2026-2027
48 000
$ 3 000
$12,000
h. FY 2027-2028
$ 48 000
$ 3,000
$ 12 000
Hourly rate for
additional work
The blended hourly rate on the attached schedule is $138 per hour.
*Please provide pricing for all years above, including the optional renewal years.
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