Laserfiche WebLink
IW.i11C W <br />SCOPE OF SERVICES <br />The work plan that KAMG proposes to address this engagement involves two tasks: Data <br />Collection/Analysis and Final Report/Follow-up. These tasks are described in detail below: <br />Service Description <br />Hours <br />Task 1— Data Collection and Analysis: <br />• A review of the last three years audited financial statements to ascertain the <br />level and prior historical use and classification of fund reserves. This would <br />include not only the General Fund but all funds to ensure that fund reserves <br />are being used and accounted for accurately. <br />10.0 <br />• A review of the last three years adopted budgets to identify any Council <br />directives regarding use of fund balance reserves or one-time budget savings. <br />12.0 <br />• Identify the financial events that led to the budget savings in fiscal years <br />2014-15 and 2015-16. Confirm that the remaining savings are accounted for <br />16.0 <br />properly in the 2015-16 financial statements <br />• Review and reconfirm that any identified one-time budget savings are indeed <br />one-time savings and not ongoing structural budget surpluses. Review <br />24.0 <br />methodologies of budgeting for full-time positions as well costing allocations. <br />• Review potential 2016-17 and 2017-18 budget shortfalls, including budgeting <br />practices that are followed to ensure that best practices are being followed to <br />produce fiscally sound citywide budgets.. This would include a detail review <br />of the budget practices and philosophies implemented in each budget cycle <br />that led to, one, balanced budgets, and two, any potential structural budget <br />24.0 <br />surpluses and/or budget savings. <br />• Following completion of the data collection and analysis, KAMG will prepare <br />20.0 <br />a Status Memorandum to the City summarizing its findings and <br />recommendations. <br />Task 2 - Final Report and Follow -Ups <br />• Based on the City's feedback received on the Status Memorandum, KAMG <br />will prepare and submit a final report and will assist in the preparation of any <br />28.0 <br />required follow-up reports to the City Council as directed. <br />Total Hours <br />134.0 <br />KAMG anticipates that Task 1 of the engagement would commence upon issuance of a <br />Professional Services Agreement by the City. Once this task has been completed to the <br />Page 10 of 13 <br />