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HomeMy WebLinkAboutSubmittal-Commissioner Carollo-Auditor's LetterCitv of IF THEODORE P. GUBA, CPA, CIA, CFE INDEPENDENT AUDITOR GENERAL Telephone (AGS) 416-2044 E-Mail: tguba@miamigov.com Date: August 17, 2022 To: Esther M. Alonso-Luft, Manager Virginia Key Outdoor Center, LLC From: Theodore Guba, CPA, CIA, CFE, Independent Auditor General ` Office of the Independent Auditor General (OIAG) Subject: Audit of Lease Agreement between the City of Miami and Virginia Key Outdoor Center, LLC Rear Ms. Esther M. Alonso-Loft: In accordance with the provisions of Section 48 of the City of Miami's Charter, and Article IV of the Lease Agreement (Agreement), between the City of Miami and Virginia Key Outdoor Center, LLC (VKOC), the Office of the Independent Auditor General (OIAG) will perform an audit of VKOC to verify the propriety/correctness of the rental payments remitted to the City. The audit will cover the period 2015 through 2022 and selected transactions prior and subsequent to this period. The primary objectives of the audit will be as follows: • To determine whether the City and/or the VKOC complied with the terms of the Agreement. • To determine whether the appropriate rent and fees were remitted to the City. • To determine whether payments were remitted to the City in a timely manner. To determine whether any other amounts are owed to the City. • To determine whether insurance coverage was adequate and in compliance with the terms of the Agreement. • To determine whether adequate internal controls were maintained. • To determine whether rental remittances and other related transactions were recorded in the City's accounting system and deposited into the City's treasury; and Other audit procedures as deemed necessary. Our audit will be conducted in accordance with Government Auditing Standards, issued by the Comptroller General of the United States. During the course of fieldwork, we will need access to all applicable records, written policies and procedures, Trial Balance, General Ledger, Sales Journal, Subsidiary Ledger, Bank Statements and Deposit receipts, Cash Receipt Journal, Certificates of Insurance„ Sales Tax Returns, Federal Tax Returns and copies of all leases/sublease agreements. OFFICE OF THE INDEPENDENT AUDITOR GENERAL 444 $W 2nO Avenue, 71Floor Miami. F"a 33328l305.416.2040rFAX 305.4i6-2046 Mailing Address; P-©. Box 330708 Miami, Florida 33233-0708 U"t81 5Ub4�7,rn;Ham-Corn"55�6�,e Collo - A-✓d%-�-or's L�-fe e Page 2 Raymond Ishmael, Audit Supervisor and Mala Khilnani, Audit Supervisor have been assigned to this audit engagement and will contact you shortly to conduct an entrance conference. Please feel free to contact me at (786) 348-3910 and/or Mala Khilnani can be contacted at (702) 556- 5368/mkhilnani@miamigov.com if you have any questions. We look forward to working with you and your staff. CC: Jacqueline Lorenzo, Interim Director, Department of Real Estate Asset Management Gabriel Brito, Senior Staff Analyst, Department of Real Estate Asset Management Arthur Noriega V, City Manager Larry M. Spring, Jr., CPA, CFO, Assistant City Manager Victoria Mendez, City Attorney Raymond Ishmael, CPA, CFE, Audit Supervisor, Office of the Independent Auditor General Mala Khilnani, CPA, CISA, Audit Supervisor, Office of the Independent Auditor General OFFICE OF THE INDEPENDENT AUDITOR GENERAL 444 SW 2" d Avenue, 7" Floor Momi. Flonda 33128f305.416.20401FAX 305.416.2046 Mailing Address: P.O. Box 330708 Miami, Florida 33233.0708