Label
Accounting Services-CAFR 2019
Finance/Accounts
Buckley (x1602)
Title
Authorizing the expenditure of an amount not to exceed $25,500 from the General Fund for accounting services related to preparation of the 2019 Comprehensive Annual Financial Report (CAFR); authorizing the Mayor to award contracts for said services; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This ordinance authorizes the expenditure of funds for accounting services to assist the Division of Accounts with preparation of the city's CAFR for the year ended December 31, 2019. The selected firm's responsibilities will include preparing the GASB 68 (pension) entries and schedules and reviewing city's trial balances, financial statements, debt schedules, footnotes, MDNA and completed CAFR for proper disclosures and for analytical purposes to identify and address errors or other audit concerns. Funds have been included in the proposed 2020 operating budget for this expenditure. The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $25,000
- The expenditure budget line item: 1001-14600-1134001STDSTD
- New revenue generated (operational revenue, grants, if any): none
- Revenue budget line item (if any): none
- Are funds budgeted in the current fiscal year (yes/no)?: yes, in the proposed operating budget for 2020
- Is this a capital project (yes/no)? no
- If yes, is it new or existing (new/existing)? n/a
- What section of the City's Strategic Plan does this support:
o Excellence in Basic Services (yes/no) yes
o Quality Community Investment (Livable City, Development) (yes/no) no
o Workplace Culture & Customer Service (yes/no) yes
o Environment (yes/no) no
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the expenditure of an amount not to exceed $25,000 is authorized from the General Fund Account Code 1001-14600-1134001STDSTD for accounting services related to the preparation of the 2019 Comprehe...
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