Laserfiche WebLink
a• Cherry <br />Bekaert <br />Proposal for City of Santa Ana <br />/ City of Vero Beach, Florida <br />/ City of Winston-Salem, North Carolina <br />/ Central New Mexico Community College <br />/ Collier County Public Schools, Florida <br />/ Columbia County, Georgia* <br />/ Community College of Philadelphia <br />/ Cumberland County, North Carolina <br />/ Eddy County, New Mexico <br />/ ElectriCities of North Carolina <br />/ Escambia County School District* <br />/ Fairfax County Department of Housing and <br />Community Development, Virginia <br />/ Sandhills Center, North Carolina <br />/ St. Johns County School District, Florida <br />/ St. Lucie County School District, Florida <br />/ State of Oklahoma <br />/ State of Rhode Island <br />/ Town of Holly Springs, North Carolina <br />/ University of Mary Washington* <br />/ University of Memphis <br />/ Virginia Beach Public Schools, Virginia <br />/ William James City County Schools, Virginia <br />*DebtBook was utilized by client for GASB 87, 94, <br />and 96 <br />e. Proposed Work Plan <br />Proposed Approach, including: i. Anticipated approach to performing services as specified herein; ii. Suggestions or special concerns <br />the evaluation committee should take into consideration (if any); iii. Description of deliverables and implementation plan. Proposer shall <br />submit a general description of the deliverables, implementation plan, and timeline. iv. Data requirements from the City, if any <br />GASB 101 Implementation <br />Cherry Bekaert has developed a comprehensive four phase approach to implementing GASB 101, Compensated <br />Absences that we are currently providing to governments throughout the country. This four -phase approach takes our <br />clients from not knowing about the pronouncement to having journal entries, disclosures, and go -forward training. The <br />Scope of Services provided by the City aligns very closely with our approach and achieves the primary objectives of <br />your RFP to ensure full compliance with GASB 101 and help align current accounting practices for the new accounting <br />standard. Cherry Bekaert's Comprehensive Four -Phase Implementation Approach includes: <br />1.0 Training and initial discussion on GASB 101 Compensated Absences GASB 101 Presentation <br />1.1 Assistance with general communication and information gathering within Tailored GASB 101 Memo <br />the organization (for decentralized organizations or systems) <br />1. <br />2.0 Provide Cherry Bekaert" GASB 101 Summary" Excel template to assist Compensated Absences <br />with the capture of compensated absences applicable to the organization Summary Excel Template <br />and potential liability recognition <br />2.1 <br />Complete detailed review of client's policies, payroll register, and trial <br />Annotated documents and a list <br />balance to assist in the identification of all potential compensated <br />of identified compensated <br />absences <br />absences <br />2.2 <br />Conduct walkthroughs with HR and Payroll departments to assist in the <br />List of identified compensated <br />discovery of the government's full compensated absences listing <br />absences <br />2.3 <br />Populate Cherry Bekaert "GASB 101 Summary" Excel template for client <br />Completed Compensated <br />review and acceptance <br />Absences Summary Excel <br />Template <br />PoliciesPhase 3: <br />3.0 <br />Assess current state processes and controls around accounting for <br />Accounting Policy <br />compensated absences and provide recommendations for improvement <br />Recommendations <br />3.1 <br />Assess clarity of client's policies and procedures (e.g., more likely than <br />Accounting Policy <br />not determination, termination assumptions, flows assumption, <br />Recommendations <br />accumulation assumptions) and provide recommendations for <br />improvement <br />15 <br />