AgdaPkt 2012-03-19 - Laserfiche WebLink

Browse Search

City of Redwood City 6.1.A. - Page 37 11WPWOai Audit Schedule, Continued Period f Audit Tasks . September/ October - Year end Audit Procedures ' Entrance conference with City Management. ' Follow -up on all outstanding confirmations. ' Verify and validate account balances by reviewing supporting documentation including invoices, vouchers, council resolutions, minutes, and other documents, as required. ' Perform analytical review of revenue and expenditures. Determine reason for material differences between budget and actual. ' Perform a search for unrecorded liabilities by reviewing disbursements subsequent to June 30, testing terms of contractual obligations, and interviewing Perform review of subsequent events by discussions with City Management and review of all minutes of City Council and key committees. ` Hold exit conference with City Management. September/ _ Audit Reports Ortaber ' Create and review drafts of City financial statements. ' Review draft of Single Audit Reports concerning internal control structure, compliance with taws and regulations, and administering of federal financial assistance programs. ' Produce and review other reports as required. ' Identify sub - recipients and develop appropriate audit procedures consistent with OMB A -133 requirements ' Provide drafts of reports to City Management for review. Within 5 working Final Audit Reports, Financial Statements, Management Letter, and Single days after Audit Reports delivered. approval. Summary of Professional Audit Hours and Administrative Staff support for the Year Ending June 30,2011: Caporicci & Larson, CPAs 1 19 S - y< Y Personnel K yr } / , Hours Partners 60 Manager 70 Senior 150 Professional Staff 300 Administrative Staff 20 Total Hours gpp Caporicci & Larson, CPAs 1 19