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Home My WebLink AboutRESPONSE - RFP - P905 AUDITING SERVICESAudit Proposal Highlights ak BONDI & Co. LLP CERTIFIED PUBLIC ACCOUNTANTS MANAGEMENT CONSULTANTS Services We Have Provided (cont.) • Procurement Process � Sales Tax Collection Procedures -_-- Graphic Financial _.- Comparisons Services We Have Provided (cont.) Reserve fund balance review Steps to protect against check fraud Financial Improvement Technology • Internal cost reduction . 33 areas to inspect • External cost reduction . 14 areas to inspect • Asset management . 26 areas to inspect •Personnel resources ................. . 16 areas to inspect _............ . Mzf • Public information resources 11 areas to inspect Audit Techmcal � Approach • We coordinate with your staff . We're part of the Annual Report . Your financial statements • Our opinion on the financial statements -tF- .Audit Techmeal Approach (cont.) • Conduct a review of your - financial operations/systems • New questions ,_ • New people • Seek input from management and Council v= • Prepare job planning memo .Audit Technical Approach (cont.) « • Testing of financial data through samples / electronically • Changes in the audit plan discussed with you • Proposed adjustments and findings, if any, discussed with you Audit Technical Approach (cont.) • You are asked about our audit conduct — modifications follow • Report delivered to the Audit i Committee/Council No Text Dollar Cost Bid for the City of Fort Collins City Council Audit Committee City of Fort Collins Page 2 - Dollar Cost Bid APPENDIX A SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE AUDIT OF THE CITY OF FORT COLLINS, POUDRE FIRE AUTHORITY AND NORTH FRONT RANGE MPO 2003 FINANCIAL STATEMENTS AND RELATED 2003 SINGLE AUDITS Partners Managers Staff Other (specify) Total (DISCOUNT) Total Out of Pocket Expenses: Meals and lodging Transportation Other (specify) Estimated Standard Quoted Hours Hourly Rates Hourly Rates 75 $190 - $275 $190 - $275 250 $130 - $180 $130 - $180 415 $40 - $90 $40 - $90 n/a n/a 740 Total All -Inclusive Maximum Price for the 2003 audit Total $ 14,250 32,500 20,750 67,500 (6,000) $ 61,500 $ 61.500 Estimate of expected costs for the services related to the North Front Range MPO and the Poudre Fire Authority, included in the above All -Inclusive Maximum Price above: North Front Range MPO $ 3,500 Poudre Fire Authority $ 6,000 atBONDI & Co. LLP CERTIFIED PUBLIC ACCOUNTANTS MANAGEMENT CONSULTANTS BONDI& Co. ccr Highlights • Colorado CPA firm serving Colorado since 1976 • International Firm Resources AcpA • Independent Approach . City City Council Audit Committee City of Fort Collins Page 3 - Dollar Cost Bid APPENDIX B SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR ADDITIONAL SERVICES Maximum All -Inclusive Nature of Service to be Provided Total Price 2003 Audits of City, Poudre Fire Authority and North Front Range MPO* $ 61,500 2004 Audits of City, Poudre Fire Authority and North Front Range MPO* 62,000 2005 Audits of City, Poudre Fire Authority and North Front Range MPO* 65,000 2006 Audits of City, Poudre Fire Authority and North Front Range MPO* 68,000 2007 Audits of City, Poudre Fire Authority and North Front Range MPO* $ 71,000 Issuance of Consent Letter for a Bond Issue No Charge Verification of Arbitrage at the End of Each Five -Year Period of a Bond Issue $ 5,500 Verification of Bond Escrow for a Bond Issue $ 2,500 Agreed Upon Procedures Performed in Relation to City's Cable TV Franchise Agreement with Service Provider $ 8,000 *Including Single Audits for the City and the North Front Range MPO. atBONDI & Co. LLP CERTIFIED PUBLIC ACCOUNTANTS MANAGEMENT CONSULTANTS City Council Audit Committee City of Fort Collins Page 4 — Dollar Cost Bid APPENDIX C SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR ADDITIONAL SERVICES NOT SPECIFIED IN APPENDIX F Standard Hourly Rates Partners $ 190 - $ 275 Supervisors $ 115 - $ 180 Consultants $ 100 - $ 160 Staff $ 40 - $ 95 Out of Pocket Expenses: Meals and lodging Transportation (Mileage) Other (specify) Quoted Hourly Rates $ 190 - $ 275 $115- $180 $100- $160 $ 40 - $ 95 This schedule reflects the hourly rates for any additional work outside the scope of this RFP if the City requires it. BONDI & Co. LLP CERTIFIED PUBLIC ACCOUNTANTS t MANAGEMENT CONSULTANTS " INVERNESS DRIVE EAST ENGLEWOOD, COLORADO 90112 www.bondico.com October 24, 2003 BONDI & Co. W CERTIFIED PUBLIC ACCOUNTANTS MANAGEMENT CONSULTANTS City Council Audit Committee City of Fort Collins c/o Mr. James B. O'Neill, II, CPPO, FNIGP 215 North Mason Street, 2od Floor Fort Collins, CO 80522-0580 Dear Mr. O'Neill and Members of the Audit Committee: (303) 799-6826 PHONE (8001250-9083 TOLL -FREE (303) 799-6926 FAX Re: Dollar Cost Bid We are pleased to propose on audit services for the City of Fort Collins for the year ending 2003, with the option of auditing your financial statements for four subsequent fiscal years. Below is our dollar cost bid in the order you prescribe in your RFP. Name of the Firm BONDI & Co. LLP CERTIFIED PUBLIC ACCOUNTANTS MANAGEMENT CONSULTANTS Authorized Representation of the Firm Below is the person authorized to submit a bid and sign a contract with the City of Fort Collins. Bert R. Bondi, CPA, Partner Total All -Inclusive Maximum Price for the Engagement We base our price on the value we provide to you and the time we spend on your engagement. Our 2003 rate schedule, subject to modification each January 1, is included. We comply with the manner of payment required in your RFP. Our price to audit the City of Fort Collins, Poudre Fire Authority and North Front Range MPO financial statements for the year ending December 31, 2003, is $61,500. City Council Audit Committee City of Fort Collins Page 5 - Dollar Cost Bid APPROVAL If these arrangements for the audit of the City of Fort Collins for the year ended 2003, are acceptable, we will include pertinent information from this proposal into our standard engagement letter for you to sign and return to us. Sincerely, Aj - I �9,40 BONDI & •Co. up BONDI & Co. LLP CERTIFIED PUBLIC ACCOUNTANTS s MANAGEMENT CONSULTANTS BONDI& CO. LLP Highlights • Easy to work with . Ask you for input before the audit . Follow-up with staff regularly and timely . Accommodated staff with audit timing • J.D. Edwards BONDI& Co. cLr Highlights • Financially sound firm . Never been sued . Never been suspended by any regulator • Technologically ahead... efficient auditing techniques Why Keep BONDI? • Experienced people . Veteran auditors • Serve many Colorado municipalities — big and small • Voice for local governments nationally __ .Positive audit approach Why Keep BONDI? • You Know Us. Proven Product, No Unknowns. Good History with Fort Collins. • You get value with BONDI . Experience . Service -. .Competitive fees Y T.o .Audit Team Management CPA - University of Notre Dame BBA in Accounting CPA - University of Kentucky BS in Accounting CPA - University of Utah BS in Accounting CPA - University of Northern Colorado BBA in Accounting BONDI Unique Qualities • Never been sued Never been suspended by a regulatory board * We Are Reliable - Services We Have Provide d • Audits on time • Suggestions to management . Investment Policy / Strategies . Capitalization Policy . Technology Utilization .Cash Deposit Policy �:�.� .Fleet Inventory Controls