Resolution 78-15593 RESOLUTION NO. 78-15593
A RESOLUTION ACCEPTING THE RECOMMENDATION OF
THE BOARD OF TRUSTEES OF THE MIAMI BEACH
EMPLOYEES RETIREMENT SYSTEM FOR EMPLOYMENT
OF RACHLIN & COHEN, CPA'S TO PERFORM AUDIT
FOR THE 1978 CALENDAR YEAR.
WHEREAS, the Board of Trustees of the Miami Beach
Retirement System has recommended the approval of the proposal
of Rachlin and Cohen, CPA' s, to perform the audit of the Retire-
ment System accounts for the 1978 calendar year, and
WHEREAS, the City Administration has reviewed the
proposal including the scope of the audit to be performed and
the fees proposed to be charged and has found such services to
be performed meet the requirements of the City;
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COM-
MISSION OF THE CITY OF MIAMI BEACH, FLORIDA, does hereby approve
' the proposal of Rachlin & Cohen as set forth in a letter to the
Board of Trustees of the Employees Retirement System dated February
20, 1978, as attached hereto and made a part hereof;
BE IT FURTHER RESOLVED BY THE CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, that the Mayor and the City Clerk be and
they are hereby authorized and directed to execute said proposal
for and on behalf of the City of Miami Beach;
BE IT FURTHER RESOLVED BY THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, that the disbursing officers of
the City be and they are hereby authorized and directed to pay
out such sums of money as the City is obligated to pay out under •
the terms of said proposal, from the funds of the City available
for such purpose.
PASSED and ADOPTED this 5th day of April, 1978 .
44 444,4
Mayor
Attest:
City Clerk
OFFICE OF THE CITY ATTORNEY-1700 CONVENTION CENTER DRIVE-MIAMI BEACH,FLORIDA 33139
awl
FEB 22 1978 eil
RACHLIN &C®HEN •
FINANCE DIRECTOR
CERTIFIED PUBLIC ACCOUNTANTS
Suite 700,633 Northeast 167th Street,North Miami Beach,Florida 33162•(305)6517610(Dade)—(305)462-1040(Broward)
_eslie J.August,CPA
_awrence H.Blum,CPA
Stanley L.Cohen,CPA
• ichard Drath,CPA,
Morris I.Hollander,CPA
Harvey Miller,CPA
Norman S.Rachlin,CPA
Sherman L.Rosenfield,CPA
Leonard I.Safra,CPA
Alan L.Sheinfeld,CPA •
Ronald K.Stern,CPA
Bernard B.Weintraub,CPA
•
Board of Trustees
Retirement System for General
Employees and Elected Officials
City of .Miami Beach
1700 Convention Center Drive
Miami Beach, Florida 33139
Attention: James A. Young, Finance Director
Dear Sir:
We are submitting the following proposal for the continuation of
our services as independent accountants for the Retirement System
•
for General Employees and Elected Officials of the City of Miami
Beach, for the year ended December 31, 1978. The purpose of our
recurring basic assignment is :
•
1) To prepare without audit, exclusively from the general
ledger and other information you will furnish us , fi-
nancial statements of the System for three calendar
quarters of the year. 1978. To such statements we will
append our report which will probably take the following
form: •
The accompanying statement of assets and liabilities
of the Retirement System for General Employees and
Elected Officials of the City of Miami Beach, as of
,1978 and 1977 , and the related state-
ments of changes in net assets and cash receipts and
disbursements , for the then ended were
not audited by us and accordingly we do not express an
opinion on them.
• Y ,r
67 •
, 1
RACHLIN & COHEN
•
James A. Young, Finance Director Page 2
2) To examine the System's financial statements for the
year ending December 31, 1978, and evaluate the fairness
of presentation of the statements in conformity with
generally accepted accounting principles applied on a
basis consistent with that of the preceding period.
Our examination will be conducted in accordance with generally
accepted auditing standards which will include a review of the
system of internal control and tests of transactions to the
extent we believe necessary.
We direct your attention to the fact that management has the
responsibility for the proper recording of transactions in the
books of account, for the safeguarding of assets, and for the
substantial accuracy of the financial statements. Such state-
ments are the representations of management.
The objective of our examination is the expression of an unquali-
fied opinion on the System's financial statements, dependent on
the facts and circumstances at the date of our opinion. If our
opinion will be other than unqualified, the reasons therefore
will be fully disclosed.
The retainer fee for our services will be $7 ,000.00. This retainer
has been proposed on the assumption that you will ocntinue to
employ competent bookkeeping personnel. Should a change in your
bookkeeping personnel require us to spend extra time in training
your people or in otherwise performing our services , and an
extension of our services therefore appear to be required, we
would consult with you concerning such possible extension of our •
services and any resulting increase in our fees.
•
If this letter contains a correct understanding of our arrange-
ments, please indicate your acceptance by signing, dating and
returning the enclosed copy to us.
Sincerely,
February 20, 1978 Leslie J. August
LJA/mw .
Enclosure
ACCEPTED BY: CITY OF MIAMI BEACH
(Signed) Dr, Leonard Haber
Dr. Leonard Haber, Mayor
kTTEST:
(Signed) Elaine Matthews
Elaine Matthews, City Clerk
April 5, 1978
A .
68
.1
ORIGINAL
RESOLUTI,ON NO. 78-15593
('Accepting the recommendation of the Board
of Trustees of the M.B. Employees Retire- •
ment System for employment of Rachlin &
Cohen, CPA's to perform audit for the A.
1978 calendar year)