Resolution 77-15431 RESOLUTION NO. 77-15431
A RESOLUTION AUTHORIZING ACCEPTANCE OF PROPOSAL
OF COOPERS & LYBRAND TO PERFORM THE AUDIT OF
THE METERED PARKING SYSTEM FOR THE CALENDAR
YEARS 1976 AND 1977.
WHEREAS, the City Council at its meeting of April 6 ,
1977, selected the firm of Coopers & Lybrand to perform the
audit of the Metered Parking System for the calendar years
1976 and 1977, and directed the City Administration to negotiate
as to the fees and the scope of services to be performed, and
WHEREAS , such negotiations were conducted and a pro-
posal was made by the firm of Coopers & Lybrand which was
reviewed and approved by the City Administration; and
WHEREAS , the City Administration has recommended that
the proposal as submitted by Coopers & Lybrand in a communication
dated July 11, 1977, addressed to Mr. James Young, Finance
Director be accepted, said proposal being attached hereto and
made a part thereof by reference;
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COUNCIL
OF THE CITY OF MIAMI BEACH, FLORIDA, that the City Council hereby
approves the proposal and that the Mayor and the City Clerk are
hereby authorized and directed to execute the same on behalf of
the City, and
BE IT FURTHER RESOLVED BY THE CITY COUNCIL 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 7th day of September, 1977 .
,,,,>d'
Mayor
Attest:
-'4_,%/1-e>. ,-/- )-- .a.--6-t--1,,k,,}<1
City C erk
OFFICE OF THE CITY ATTORNEY , 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
VITt‘
COOPERS & LYBRAND
CERTIFIED PUBLIC ACCOUNTANTS �`/��t•�•
t5
111
, 900 FIRST FEDERAL BUILDING
Y VVV`��G1I1
Jr
0441CC O MIAMI, FLORIDA 33131
1305305 1 358-6363
July 11, 1977
Mr. James Young
Finance Director
City of Miami Beach
1130 Washington Avenue
Miami Beach, Florida 33139
Dear Mr. Young:
This letter summarizes our understanding of the services to be
performed by Coopers & Lybrand for the City of Miami Beach for the audit
outlined in our written proposal dated January 15, 1977 and our fees with
respect thereto:
As requested by you, we will perform the following services:
. Review the City's conversion of the Parking System Fund
from the current fund format to the enterprise format
e Audit the books and records for the year ended
December 31, 1976
Our examination of your financial statements will be made in
accordance with generally accepted auditing standards and will include such
tests of the accounting records and such other auditing procedures as we
consider necessary in the circumstances. The objective of such an exami-
nation is the expression of our opinion on whether the statements present
fairly financial position, results of operations and changes in financial
position in conformity with generally accepted accounting principles applied
on a consistent basis.
Such examinations include procedures designed to detect errors and
irregularities that would have a material effect on the financial statements .
However, as you are aware, there are inherent limitations in the auditing
process; for example, such examinations are based on the concept of selective
testing of the data being examined and are, therefore, subject to the
inherent limitation that such matters, if they exist, may not be detected.
Mr. James Young
- 2 -
Likewise, in making our examination we will be aware of the
possibility that illegal acts may have occurred, although it should
be recognized that such an examination cannot be expected to provide
assurance that illegal acts will be detected.
The establishment and maintenance of a system of internal
accounting control is an important responsibility of management. Appro-
priate supervisory review procedures are necessary to provide reasonable
assurance that adopted policies and prescribed procedures are adhered to
and to identify errors and irregularities or illegal acts . As part of
our examination, we will review the City's system of internal accounting
control and inform you of material weaknesses that we believe should be
corrected, and our recommendations in this respect.
Fees for our services will be based upon the actual hours
incurred on the engagement and the classification of the participating
personnel. Based on our review of your records and procedures, we
estimate that our fees will be approximately as follows:
Review of conversion to enterprise
fund format $ 500
Examine and report on the financial
statements of the Parking System
Fund for the year ended
December 31, 1976 5,300
$5,800
We appreciate the opportunity to provide these services to the
City and will arrange staffing to begin the audit upon acceptance of
this letter and notification of when the records will be available for
audit.
Very truly yours,
• ACCEPTED BY: CITY OF MIAMI BEACH
•
'Harold Rosen, Mayor
ATTEST:
DATE: September 7, 1977 Elaine Matthews, City Clerk
ORIGINAL
RESOLUTION NO. 77-15431
(Authorizing acceptance of proposal of
Coopers & Lybrand to perform the audit
of the Metered Parking System for the
calendar years 1976 and 1977)