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owners. We work closely with agency staff and their attorneys in order to keep all parties <br />apprised of the status of our appraisal projects. <br />Our collaborative business approach allows DM &A to have a level of quality control and <br />responsiveness that is unique in our market. DM &A's appraisal review process is thorough and <br />involves oversight by firm partners. Budgets and schedules are closely monitored, and <br />appropriate management controls have been implemented to maximize employee productivity. <br />DM &A's delivery record of projects on time and within budget is evidence of the firm's superior <br />quality control. <br />DM &A's work will encompass steps including, but not limited to, the following: <br />• Communications with Agency management to ascertain the scope of the assignment; <br />• Review and analysis of financial statements of the subject business, including internal <br />income statements and balance sheets as well as tax returns; <br />• Interviews with the owners and /or managers of the subject business and /or a review of <br />deposition transcripts. Such interviews are intended to provide DM &A with a thorough <br />understanding of the business' products, operations, management, employees, <br />marketing, competition, and industry, as well as an understanding of recent financial <br />trends and outlook; <br />• Site and area inspections of both the subject location and the business' relocation site, if <br />applicable; <br />• Review of leases and other contracts pertinent to the business' operations; <br />• Coordination with other professionals, such as fixtures and equipment appraisers, real <br />estate appraisers, and relocation consultants, to avoid duplication of compensation; <br />• Independent research in the business' industry and the economic factors affecting the <br />business; <br />• Research into the marketplace for sales of businesses similar to the subject; <br />• Investigation of the impact of the taking and /or of relocation, if applicable, on the <br />business' revenues and profits in the "after" condition; <br />• Implementation of valuation methods, such as the Income Approach and Market <br />Approach, to determine the value of the business' goodwill in both the before condition <br />and in the after condition; <br />• Preparation of valuation report; and <br />• Any required meetings or conferences with the client regarding appraisal questions. <br />25L -170 <br />