HomeMy WebLinkAboutDocumentation_Regular_Tab 11-B_5/14/1998 .t
Memorandum
To: Village Council
From: Thomas G. Bradford, Village Manager
Date: May 8, 1998
Subject: Professional Services (Accounting) Proposal; Agenda
Item
On April 24, 1998, I executed the attached Accounting Services
Agreement with Nowlen, Holt, & Miner in order to accomplish two
things, as follows :
1 Provide accounting services to bring the Village financial
records up-to-date for the current fiscal year.
2 Provide assistance in training of the new Village Finance
personnel .
This Agreement or • Contract will exceed $5, 000, therefore, the
Village Council ' s approval of the same is needed. I estimate
this work effort to take not less than 10 weeks, for a maximum
cost of $39, 200 .
Interviews for the two Accountant position openings have been
completed. The selection for the positions is anticipated to be
made by May 11 . New Accountant personnel are anticipated to be
on-board by June 1, 1998 .
It is recommended that the Village Council approve the
Professional Services (Accounting) Agreement to accomplish the
work and training referenced herein.
TGB/krb
Attachment
council\050898.sam
•
NOWLEN, HOLT & MINER, P.A. ----_- ._. ..-------._--..
CERTIFIED PUBLIC ACCOUNTANTS EVERETT B.NOWLEN 119301s81.CPA
EDWARD T.HOLT,CPA
WEST PALM BEACH OFFICE
WILUAM B.MINER,CPA
215 FIFTH STREET,SUITE 200 ROBERT W.HENDRIX,JR.,CPA
POST OFFICE BOX 347 JANET R.BARICEVICH, CPA
KATHLEEN A MINER,CPA
WEST PALM BEACH,FLORIDA 33402-0347 R.GREGORY SMITH,CPA
TELEPHONE(561)659-3060 ROBERT W.HELMREICH,CPA
FAX(561)835-0628 TERRY L MORTON,JR.,CPA
• N.RONALD BENNETT,CPA
J.MICHAEL STEVENS,CPA
MARK B.ELHILOW,PFS,CPA
DANIEIA'E RUSSELL,CPA
MIGUEL E.MOUNA,CPA
April 22, 1998 BELLE GLADE OFFICE
333 S.E 2nd STREET
POST OFFICE BOX 338
BELLE GLADE,FLORIDA 33430-0338
Mr. Thomas Bradford TELEPHONE(561)996-5612
FAX(561)986-6248
Village of Tequesta
357 Tequesta Drive
Tequesta, FL 33469
Dear Mr. Bradford:
We are pleased to provide a summary of accounting services to assist your Finance Department
during the current transition of employees.
We will provide one paraprofessional for a maximum of four days or 32 hours a week. This
paraprofessional will be supervised by a CPA from our firm. The CPA will be available a
maximum of 24 hours a week. The CPA will also assist in training of new Village finance
personnel. Nowlen, Holt&Miner staff assigned will reconcile bank accounts and balance sheet
accounts as deemed necessary to get the books and records current. Additionally, Nowlen, Holt
& Miner staff will perform computer postings of transactions which are precoded by members
of the Village staff.
In order to maintain our independence as your external auditors, we cannot perform the
following procedures:
• Make management decisions.
• Have custody of assets or be signers on any bank accounts, etc.
• Exercise authority on behalf of the client.
• Make changes to precoded data (checks, deposits, etc.) without the concurrence
of the Village staff.
The above list is a summary of those possible procedures that may impair our independence.
This list is not all inclusive. We understand that the Village will need as much assistance from
Nowlen, Holt&Miner as possible. If assistance is requested that is not permissible as to impair
our independence, then we shall notify Village management of alternatives, if any.
•
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS•FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS•ACCOUNTING FIRMS ASSOCIATED INC.
Village of Tequesta
April 22, 1998
Page 2
Our fees for these services will be based on the actual time spent at our standard hourly rates,
discounted 25%. Our para-professional's discounted standard rate is $52. Our professional
discounted standard hourly rate will be: partner- $158; manager- $110; supervisor- $94 and
staff- $68. It is anticipated that substantially all of the professional fees will be based upon the
use of a supervisor at $94 per hour. Our invoices for these fees will be rendered each month
as work progresses and are-payable at presentation. Interest-Will be charged a the fate of-I-
1/4% per month, for an annual percentage rate of 15%, on all past due accounts.
We appreciate the opportunity to be of service to the Village of Tequesta. If you agree with the
terms of our engagement as described in this letter, please sign the enclosed copy and return it
to us.
Sincerely,
1441
Nowlen, Holt & Miner, P.A.
RESPONSE
This letter correctly sets forth the understanding of the Village of Tequesta.
By: 74-zg-
Title: Village Manager
L1
Date: `