HomeMy WebLinkAboutCRA-R-06-0001 Cover MemoSOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
Chairman Johnny L. Winton
and Members of the CRA Board
SEOPW & Omni Board of Directors Meeting
January 30, 2006
Item # 3
Date: January 20, 2006 05-01485
Subject: Recommendation to Renew External
Financial Auditing Services for FY'06
ran ie . Rollason References:
Executive Director
Enclosures: Supporting Documentation;
Legislation
RECOMMENDATION:
It is recommended that the attached Joint Resolution of both the Southeast Overtown Park West (SEOPW) and
Omni Community Redevelopment Agencies (CRAs) be approved and adopted by the Board of Directors
authorizing the Executive Director to execute an "Option Term" extension with Sanson, Kline, Jacomino &
Company, LLP (SKJ) for a one year period as provided in the current agreement to provide financial auditing
services for both the SEOPW and Omni CRAs for Fiscal Year 2006 at a base fee of $46,000 (no increase over
FY'05 audit) and the approval for an additional maximum of $7,000 per CRA, if required, to perform a single
audit function as a result of the CRA receiving Federal funds for a total authorization of $60,000.00.
JUSTIFICATION:
Both the Omni and SEOPW CRAs' Boards of Directors approved the hiring of SKJ on December 8, 2003 for
Fiscal Years '03 and '04 with the option for three additional one year option term renewals at a price to be
negotiated between the Executive Director and SKJ. The price negotiated and approved by both Boards for FY'
05 was approximately 3% higher than that for FY'04. The attached proposal from SKJ for FY'06 audit, however,
keeps the fees the same as for the FY' 05 audit — no increase. The price quoted for the single audit, if required,
remains at a constant $7,000.00 throughout the term of the contract to include any of the authorized extensions.
FUNDING SOURCE:
TOTAL OF $60,000.00 BROKEN OUT AS FOLLOWS:
$34,500.00 plus $7,000.00 for Single Audit, if necessary, from SEOPW TIF Account No. 689001.550108.6 .280
entitled Professional Services -Accounting.
$11,500.00 plus $7,000.00 for Single Audit, if necessary, from Omni TIF Account No. 686001.590320.6.280
entitled Professional Services -Accounting
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