HomeMy WebLinkAboutURA RES 2022-34RESOLUTION NO. p Z �3k+
RESOLUTION TO AUTHORIZE THE ACCEPTANCE FOR THE PROPOSED AUDIT FEES
WITH EIDE BAILLY FOR THE YEAR ENDED SEPTEMBER 30, 2022.
BE IT HEREBY RESOLVED by the Urban Renewal Agency of the City of Caldwell, Idaho, to
approve the audit fee proposal with Eide Bailly hereto as set forth in full.
PASSED BY THE URBAN RENEWAL AGENCY this 13t1iday of June, 2022.
APPROVED BY THE CHAIRMAN OF THE URBAN RENEWAL AGENCY OF THE
CITY OF CALDWELL this 13`� day of June, 2022.
L� r�r�rnva�
TO: Caldwell Urban Renewal Agency
Meeting Date June 13th 92022
AGENDA ITEM
INFORMATION
SUBJECT:
2022 Audit Fee
Proposal from Eide Bailly
Department Submittals
X to
mark
Initials
Building Department
CDBG
Clerk
City Attorney
Finance Department
X
chm
Human Resources
Planning & Zoning
Fire Department
Police Department
Public Works
Street Department
Water Department
WWTP
Engineering
Mapping
COST IMPACT:
$14,000
Parks and Recreation
FUNDING
SOURCE:
Airport
Information Systems
TIMELINE:
FY2022
Golf Course
OTHER:
SUMMARYSTATEMENT:
RECOMMENDED ACTION:
Request to accept the audit proposal from Eide Bailly
for FY2022
Eide Bailly LLP
Total All -Inclusive Maximum Price
This Price Proposal is submitted as the proposal in response to the solicitation from the City of Caldwell, Idaho
the City).
Our clients can expect quality service at reasonable fees. Eide Bailly has established a reputation of providing
quality work at a fair price. The following is a total cost estimate to providing audit services for both the audit
of the financial statements of the City, audit of federal awards in accordance with the Uniform Guidance
engagement, audit of the financial statements of Urban Renewal Agency, and the audit of the financial
statements of the Health Trust:
Audit of the financial statements of the City 375 $140 $52,500
Audit for each major program in a year when total federal expenditures 55 $140
exceed $750,000 $7,700
Audit of the financial statements of the Urban Renewal Agency 100 $140 $14,000
Audit of the financial statement of the Health Trust 80 $140 $11,200
Hourly rate for additional help with report preparation. Examples include, but
are not limited to, assistance with conversion entries, cash flow statements,
reconciliation between fund and government -wide statements, new or
updated footnotes, engagement issues.
Senior assistance $125/hr
Manager assistance $215/hr
Partner assistance $350/hr
Preparation of the financial statements of the City of Caldwell 50-60 $175 $81750-
------ -- - -- ----------- _ ---- - - -- - --_ ----
$10,500
-
First year audit procedures surrounding implementation of the new lease
standard (GASB 87). First year audit procedures include but are not limited to:
Scouring of the detail general ledger for possible leases and imbedded leases
to validate completion of the population identified by management,
Review of identified lease contracts and possible lease contracts to validate $21240-
management's assessments and conclusions* 16-24 $140 $3,360
Review of management's calculation of leases on the balance sheet and
income statement,
Review of the accuracy and sufficiency of the new disclosures related to the
new standard included by management.
Out -of -Pocket Expenses
All stages of the engagement, including travel, printing/binding/delivery of the reports, and any out-of-pocket
expenses are also included in the above fee.
Billing Policy Regarding Telephone Inquiries
We have found that clients appreciate access to all of their service team members. We embrace this need and
will ensure all our team members are available to service your questions and issues. This level of service is
included in the scope of the engagement. If a particular issue surfaces that falls outside the scope of the
engagement, we will bring it to your attention and obtain approval before proceeding on a path of resolution.
Fee Philosophy
We understand you may require additional services from time to time, including accounting and tax research.
Our fees are based on the complexity of the issue and the experience level of the staff members necessary to
address it. In the event you request additional services, Eide Bailly will obtain your agreement on fees before
such work would commence. In other words, there will be no "surprises" or hidden fees.
Our Commitment
We commit to working with City staff over the summer to streamline the audit documents prepared by City
staff for the audit and to train City staff in the report preparation process and implementation of new
standards to help keep costs down for the City.
Additional Services
While not always included in our audit contract, with Eide Bailly as your auditor, we can provide the City the
following services:
We Want to Continue Working with You
Know that you will continue to be a highly valued client. Our people are proud to work with the City and desire
to continue our trusting relationship with your team. Please contact me at 208.424.3512 or
jaugherty@eidebailly.com if you would like to discuss any aspect of this price proposal or would like any
additional information on Eide Bailly and what we can offer the City of Caldwell.
Cin�orcly
Jodi Daugherty, CPA
Partner
Ira