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Item 12 Contract to Cherry Bekaert Advisory LLC for Governmental Accounting Standards Board
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Item 12 Contract to Cherry Bekaert Advisory LLC for Governmental Accounting Standards Board
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5/20/2025 5:32:58 PM
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City Clerk
Doc Type
Agenda
Agency
Finance & Management Services
Item #
12
Date
5/20/2025
Destruction Year
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Cherry <br />Bekaert <br />Proposal for City of Santa Ana <br />Email <br />0effre ates fa ettevillenc. ov <br />Contract Amount <br />$914,000 <br />Year <br />January 2023 - Present <br />Wide range of accounting, financial and pre -financial audit services for fiscal years 2022 - 2025 . <br />We started by gaining an understanding of the entity's system of internal controls after their ERP <br />implementation, similar to what would have been done in a financial statement audit. The <br />purpose was to better develop tailored accounting and financial reconciliation procedures <br />necessary for significant transaction cycles that had yet to be reconciled. The reconciliations <br />included bank reconciliations (including pooled cash), accounts receivable and payable <br />subledgers, capital assets, and fund balance classification, among others. Portions of the <br />Description of <br />reconciliations were fully outsourced while others were done in conjunction with City finance <br />supplies, <br />staff. As part of the co -sourced account and financial closing process, we proposed journal <br />equipment, or <br />entries and assisted with preparation of the final trial balance for the auditors. <br />services provided <br />The City was required to implement GASB 87 as part of their fiscal year 2022 closing procedures <br />and also decided to implement GASB 96 a year early. We assisted with the implementation of <br />both of these standards, which included template creation for departments lease/subscription <br />contract identification, detailed review of contracts, data analytics on the City's General Ledger to <br />identify embedded leases, assistance developing go -forward policies and procedures, and <br />required journal entries and disclosures. We also assisted with note disclosures and other <br />Customer Name <br />procedures related to the drafting of the Annual Comprehensive Financial Report. <br />City Fort Myers <br />Contact Individual <br />of <br />Christine Tenney, Director of Financial Services <br />Address <br />2200 Second Street, Fort Myers, FL 33901 <br />Phone Number <br />239.321.7186 <br />Email <br />ctenney(@cityftmvers.com <br />Contract Amount <br />$247,500 <br />Year <br />November 2023 - Present <br />We assisted the City with ACFR preparation, which included: <br />► Coordinating with the City's finance department to develop a timeline for completion, <br />including team member assignments and review responsibilities <br />► Providing a template with a list of items (statements, schedules, footnotes, Stat tables) <br />needed <br />► Holding weekly status update meeting to ensure progress goals were met <br />Description of <br />► Assisting with: <br />supplies, <br />o Full accrual journal entries <br />equipment, or <br />services provided <br />o Long-term debt, pension and OPEB footnotes <br />o Government -wide reconciliations <br />o Identifying and correcting grouping issues <br />o Completion of the basic financial statements within the City's software (Statement <br />Builder) <br />/ Performing multiple reviews of the ACFR before submission to the City's external auditors. <br />► Helping the City ensure that GFOA requirements were met <br />Customer Name <br />Contact Individual <br />City of Richardson, TX <br />Herman Chavez, CPA, Controller <br />Address <br />2360 Campbell Creek Blvd. Suite 550 Richardson, TX 75082 <br />Phone Number <br />972.744.4062 <br />Email <br />herman.chavez cor. ov <br />Contract Amount <br />$321,500 <br />ear <br />June 2023 - Present <br />IN <br />
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