05-18-10 Special Called Regular Meeting of Fiscal Affairs Committee

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- PROJECT APPROACH - and proposed recommendations, which often lead to a plan of action by City management to make any needed improvements in a manner that is not only theoretically but practically sound. We find this method of exiting on the audit process brings the most value to the City. - .. Level of Staff The level of staffing commitment to complete this engagement segmented by audit phase is as follows: - - Partners-( 1 ) Managers-( 1) Senior Staff-( 1) Totals 5 10 5 20 10 20 60 90 20 20 10 50 35 50 75 160 - - Timeline The following is a sample of the type of timing and planning schedules we would recommend after working closely with the City's administrative staff to formulate and complete the specific timing requirements detailed by the City's management. However, given the sizable amount of staff we have available, Null- Lairson is very flexible and can conduct the audit at a time that is most convenient for the City. - - July 1-16,2010 Audit Coordinators for City and Firm named and mutually agreed upon. - Review of preliminary schedule with the finance department staff. July 19-31, 2010 Entrance conference rior to interim work with the Fiscal Affairs' Committee. Understanding and documenting processes, procedures, and controls involved in the accounting and reporting of the 5-Points project, with specific emphasis on issues raised by the Fiscal Affairs' Committee and management. - - Review of contracts and agreements related to the project. - Detailed review of 5-Points project transactions, including billings, to ensure developer's compliance with agreements and contracts. August 1-10,2010 Evaluation of resources used for the Project to determine if they were properly applied. Review of report draft and recommendations with the Fiscal Audit Committee and Management. - - Issuance of final report. - - li'L 6 -