CITY COUNCIL AGENDA ITEM
Memo Date: August 28, 2021
Agenda Date: September 14, 2021
Prepared By: Rebecca Bowman, Finance Director
Through: Stockton Whitten, City Manager
Requested Action:
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Approval of Multi-Year Piggyback Agreement with Milestone Professional Services, Inc. for Accounting Services for Annual Financial Report (AFR) Preparation. End
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BACKGROUND:
Staff is requesting approval for a multi-year piggyback off of the City of Casselberry RFP-2021-0707 with Milestone Professional Services (MPS) for Accounting Services/miscellaneous consulting services for the period of 9/1/21 to 8/31/26 for assistance with debt compliance, financial reporting and other accounting issues. The City must prepare a Comprehensive Annual Financial Report (CAFR) each fiscal year. The preparation of the AFR requires completion of many tasks and detailed knowledge of GASB pronouncements, generally accepted accounting principles and financial statement preparation, in addition to familiarity with the financial statement preparation software. Assistance with completion of complex journal entries, advisory services and financial statement preparation ensures accurately presented financial statements. Additional services, if needed, will be billed on an hourly basis at the rates listed below.
The costs for each year of this multi-year contract will be included in the Adopted Budget for each applicable fiscal year. The costs will be coded to General Operations Professional Services account #001-1600-513.31-00.
STRATEGIC PLAN CONNECTION:
Goal 3: Continuously increase organization efficiency and effectiveness.
BUDGETARY IMPACT:
Budgeted Yes
If not budgeted, is amendment/transfer attached? No
Budgetary Impact by Fiscal Year:
FY22 $22,500
FY23 $23,400
FY24 $23,400
FY25 $24,300
FY26 $24,300
Additional Services as needed: $60/hr for staff; $130/hr for executive time
PREVIOUS ACTION:
None
RECOMMENDED MOTION:
Recommendation
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Approva...
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