The URL can be used to link to this page

Home My WebLink AboutItem #5 attachmentCITY OF LAKE ELSINORE June 4, 2013 DOLLAR COST BID •TEAMAN, RAMIREZ & SMITH, INC. RSCERTIFIED PUBLIC ACCOUNTANTS 07 RS C E4MAN, RA SMITH, INC. CERTIFIED PUBLIC C A ACCOUNTANTS June 4, 2013 James Riley, CPA Director of Administrative Services City of Lake Elsinore 130 S. Main Street Lake Elsinore, California 92530 We are pleased to present this audit cost proposal. We have provided you with a significant amount of information about our firm, our service approach to auditing and the individuals who will serve you. We are committed to provide the highest level of service to the City of Lake Elsinore at a reasonable cost. However, costs should not be overemphasized in selecting a firm of independent public accountants with which you plan to establish a continuing relationship. We urge you to select the firm you believe is most qualified to provide you with all the services you require — now and in the future — in a dedicated and responsive manner. The total maximum price for the audit services to be provided to the City of Lake Elsinore for the June 30, 2013, 2014, 2015, 2016 and 2017: Total All- Year Inclusive Price 2013 $ 45,900 2014 $ 45,900 2015 $ 46,500 2016 $ 46,500 2017 $ 47,200 The above fees include a Single Audit, as necessary. This fee is proposed under the assumption that the Single Audit will include no more than two major programs. This Single Audit fee will be increased by $1,500 for each additional major federal program (above the two) required to be audited in accordance with OMB Circular A -133. Richard A. Teaman, cPA • David M. Ramirez, cPA • Javier H. Carrillo, cPA 4201 Brockton Ave. Suite 100, Riverside CA 92501 • 951.274.9500 • 951 .274.7828 FAx • www.trscpas.com This proposal is made with the assumption that the City's books and records will be in a reasonably balanced condition and reconciled at the start of the audit and that the representations made to us during this proposal process will remain effective throughout our engagement. The balance of this audit cost proposal details the breakdown of the annual maximum price. Thank you for providing us the opportunity to present our proposal for audit services as we would like very much to become the City's auditors. We certify that Richard A. Teaman is entitled to represent the firm, empowered to submit this bid and authorized to sign a contract with the City of Lake Elsinore. Should you have any questions regarding our proposal or desire additional information, please call, Rich Teaman, Partner at (951) 274 -9500. Respectfully Presented, TEAMAN, RAMIREZ & SMITH, INC. Richard A. Teaman Certified Public Accountant 2 Report / Service CAFR PFA RA Single Audit GANN Total CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS ALL SERVICES DESCRIBED IN RFP SECTION III Total Price 2013 2014 2015 2016 2017 $ 32,000 $ 32,000 $ 32,300 $ 32,300 $ 32,600 5,900 5,900 6,000 6,000 6,100 4,000 4,000 4,100 4,100 4,200 3,600 3,600 3,700 3,700 3,800 400 400 400 400 500 $ 45,900 $ 45,900 $ 46,500 $ 46,500 $ 47,200 Q CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2013 CAFR Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2013 CAFR 200 70 -90 80 344 4 $ 33,980 I (1.980) S 32.000 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 20 $ 170 -250 $ 185 100 121 -165 120 24 91 -120 95 Total price for FYE 2013 CAFR 200 70 -90 80 344 4 $ 33,980 I (1.980) S 32.000 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2013 PFA Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2013 PFA 40 70 -90 80 64 5 $ 6,330 1 (430) S 5,900 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 5 $ 170 -250 $ 185 16 121 -165 120 3 91 -120 95 Total price for FYE 2013 PFA 40 70 -90 80 64 5 $ 6,330 1 (430) S 5,900 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2013 RA Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2013 RA 0 0 (825) � 4,000 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 3 $ 170 -250 $ 185 14 121 -165 120 2 91 -120 95 30 70 -90 80 49 $ 4,825 Fee Discount Total price for FYE 2013 RA 0 0 (825) � 4,000 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2013 SINGLE AUDIT Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 3 $ 170 -250 $ 185 12 121 -165 120 2 91 -120 95 30 70 -90 80 47 Total price for FYE 2013 Single Audit 7 $ 4,585 I (985) S 3.600 CITY OF LAKE ELSINORE SC'11E1)ULE 01; 13RO L.SSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2013 GANN Total price for FYE 2013 GANN P Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total Partners 1 $ 170 -250 $ 185 Managers 1 121 -165 120 Supervisory Staff 91 -120 95 Staff 3 70 -90 80 Subtotal 5 $ 545 Out -of- Pocket Expenses 0 Fee Discount (145) Total price for FYE 2013 GANN P CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2014 CAFR Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2014 CAFR 200 70 -90 80 344 0 $ 33,980 111 (1,980) S 32,000 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 20 $ 170 -250 $ 185 100 121 -165 120 24 91 -120 95 Total price for FYE 2014 CAFR 200 70 -90 80 344 0 $ 33,980 111 (1,980) S 32,000 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2014 PFA Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2014 PFA 40 70 -90 80 64 10 $ 6,330 D f 43 ()) 5,900 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 5 $ 170 -250 $ 185 16 121 -165 120 3 91 -120 95 Total price for FYE 2014 PFA 40 70 -90 80 64 10 $ 6,330 D f 43 ()) 5,900 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2014 RA Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2014 RA Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 3 $ 170 -250 $ 185 14 121 -165 120 2 91 -120 95 30 70 -90 80 49 $ 4,825 11 0 l (825) � 4.000 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2014 SINGLE AUDIT Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 3 $ 170 -250 $ 185 12 121 -165 120 2 91 -120 95 30 70 -90 80 47 Total price for FYE 2014 Single Audit 12 $ 4,585 0 (985) 3.600 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2014 GANN Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2014 GANN 5 $ 545 0 13 (145) S 400 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 1 $ 170 -250 $ 185 1 121 -165 120 91 -120 95 3 70 -90 80 Fee Discount Total price for FYE 2014 GANN 5 $ 545 0 13 (145) S 400 CITY OF LAKE ELSINORE SCHEDULE OF .PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2015 CAFR Out -of- Pocket Expenses 0 Fee Discount (1.680) Total price for FYE 2015 CAFR S 32.300 14 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total _ Partners 20 $ 170 -250 $ 185 Managers 100 121 -165 120 Supervisory Staff 24 91 -120 95 Staff 200 70 -90 80 Subtotal 344 $ 33,980 Out -of- Pocket Expenses 0 Fee Discount (1.680) Total price for FYE 2015 CAFR S 32.300 14 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2015 PFA Out -of- Pocket Expenses 0 Fee Discount 330) Total price for FYE 2015 PFA S 6.000 15 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total Partners 5 $ 170 -250 $ 185 Managers 16 121 -165 120 Supervisory Staff 3 91 -120 95 Staff 40 70 -90 80 Subtotal 64 $ 6,330 Out -of- Pocket Expenses 0 Fee Discount 330) Total price for FYE 2015 PFA S 6.000 15 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2015 RA Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2015 RA Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 3 $ 170 -250 $ 185 14 121 -165 120 2 91 -120 95 30 70 -90 80 49 $ 4,825 16 0 (725) � 4.100 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPLNSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2015 SINGLE AUDIT Out -of- Pocket Expenses 0 Fee Discount (885) Total price for FYE 2015 Single Audit S 3.700 17 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total Partners 3 $ 170 -250 $ 185 Managers 12 121 -165 120 Supervisory Staff 2 91 -120 95 Staff 30 70 -90 80 Subtotal 47 $ 4,585 Out -of- Pocket Expenses 0 Fee Discount (885) Total price for FYE 2015 Single Audit S 3.700 17 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2015 GANN Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2015 GANN 18 0 (145) $ 400 Standard Quoted Estimated Hourly Hourly Hours bates Rates Total 1 $ 170 -250 $ 185 1 121 -165 120 91 -120 95 3 70 -90 80 5 $ 545 Total price for FYE 2015 GANN 18 0 (145) $ 400 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2016 CAFR Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2016 CAFR 200 70 -90 80 344 19 $ 33,980 9 (1.680) L-32.10 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 20 $ 170 -250 $ 185 100 121 -165 120 24 91 -120 95 Total price for FYE 2016 CAFR 200 70 -90 80 344 19 $ 33,980 9 (1.680) L-32.10 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2016 PFA Out -of- Pocket Expenses 0 Fee Discount (330) Total price for FYE 2016 PFA 1 6,000 20 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total Partners 5 $ 170 -250 $ 185 Managers 16 121 -165 120 Supervisory Staff 3 91 -120 95 Staff 40 70 -90 80 Subtotal 64 $ 6,330 Out -of- Pocket Expenses 0 Fee Discount (330) Total price for FYE 2016 PFA 1 6,000 20 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL,_ FEI -S AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2016 RA Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2016 RA Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 3 $ 170 -250 $ 185 14 121 -165 120 2 91 -120 95 30 70 -90 80 49 $ 4,825 21 0 (725) � 4.100 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2016 SINGLE AUDIT Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount 30 70 -90 80 47 Total price for FYE 2016 Single Audit 22 $ 4,585 D (885) S 3.700 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 3 $ 170 -250 $ 185 12 121 -165 120 2 91 -120 95 30 70 -90 80 47 Total price for FYE 2016 Single Audit 22 $ 4,585 D (885) S 3.700 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2016 GANN Total price for FYE 2016 GANN 23 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total Partners 1 $ 170 -250 $ 185 Managers 1 121 -165 120 Supervisory Staff 91 -120 95 Staff 3 70 -90 80 Subtotal 5 $ 545 Out -of- Pocket Expenses 0 Fee Discount (145) Total price for FYE 2016 GANN 23 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2017 CAFR Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2017 CAFR 200 70 -90 80 344 24 $ 33,980 0 (1,380) S 32.600 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 20 $ 170 -250 $ 185 100 121 -165 120 24 91 -120 95 Total price for FYE 2017 CAFR 200 70 -90 80 344 24 $ 33,980 0 (1,380) S 32.600 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2017 PFA Out -of- Pocket Expenses 0 Fee Discount (230) Total price for FYE 2017 PFA S 6,100 25 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total Partners 5 $ 170 -250 $ 185 Managers 16 121 -165 120 Supervisory Staff 3 91 -120 95 Staff 40 70 -90 80 Subtotal 64 $ 6,330 Out -of- Pocket Expenses 0 Fee Discount (230) Total price for FYE 2017 PFA S 6,100 25 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2017 RA Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2017 RA Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 3 $ 170 -250 $ 185 14 121 -165 120 2 91 -120 95 30 70 -90 80 49 $ 4,825 26 0 (625) � 4.200 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2017 SINGLE AUDIT 27 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total Partners 3 $ 170 -250 $ 185 Managers 12 121 -165 120 Supervisory Staff 2 91 -120 95 Staff 30 70 -90 80 Subtotal 47 $ 4,585 Out -of- Pocket Expenses 0 Fee Discount (785) Total price for FYE 2017 Single Audit S 3.800 27 CITY OF LAKE ELSINORE SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS: SUPPORTING SCHEDULE FOR FYE 2017 GANN Partners Managers Supervisory Staff Staff Subtotal Out -of- Pocket Expenses Fee Discount Total price for FYE 2017 GANN 28 D (45) S 500 Standard Quoted Estimated Hourly Hourly Hours Rates Rates Total 1 $ 170 -250 $ 185 1 121 -165 120 91 -120 95 3 70 -90 80 5 $ 545 Total price for FYE 2017 GANN 28 D (45) S 500 CITY OF LAKE ELSINORE DOLLAR COST BID We agree the City may broaden the scope of our engagement and we agree to hold ourselves available to perform such additional work as the City may desire. Progress billings, on the basis of hours of work completed during the course of the engagement, will be submitted. Interim billings shall cover a period not less than a calendar month. A final billing will be submitted upon delivery of all required reports. Our fees for services rendered will be based on our quoted hourly rates and actual time expended. No billings will be made for out -of- pocket expenses or any other expenses such as typing, clerical, printing or travel costs. Below is our Hourly Rate Schedule for hourly charges for professional services rendered in relation to any additional services that may be requested by the City. Most often, larger additional projects have negotiated maximums. Should you require such services, we would be pleased to discuss them with you. Staff Category Partner Manager Supervisory Staff Professional Staff Standard Hourly Rates $ 170-250 121-165 91-120 70 -90 29 Quoted Hourly Rates $ 185 120 95 80