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�CA.1,S),`r- <br />Y � <br />Cit of North Olmsted <br />5200 Dover Center Road • North Olmsted, Ohio 44070 -3129 <br />Carrie B. Copfer, CPA Department of Finance Phone: (440) 777 -8000 <br />Director of Finance Fax: (440) 777 -5774 <br />Request for Proposal <br />GAAP Conversion and CAFR Preparation Assistance <br />City of North Olmsted <br />The City of North Olmsted is requesting proposals for professional services to provide <br />GAAP conversion assistance and CAFR preparation from Certified Public Accountants <br />for the fiscal year ended December 31, 2005 and an option for fiscal year ended <br />December 31, 2006. <br />This includes but is not limited to: <br />Annual conversion of its financial data from the cash basis to the accrual/modified <br />accrual basis of accounting and the compilation of its financial statements in compliance <br />with generally accepted accounting principles under GASB Statement No. 34 and the <br />Auditor of State meeting all deadline requirements. <br />Assist the city with the preparation of the Financial Section of the Comprehensive <br />Annual Financial Report (CAFR) in accordance with generally accepted accounting <br />principles under GASB Statement No. 34. <br />Provide applicable requirements and criteria for accrual, suggest sources of information, <br />direction and guidance for proper accumulation and format of data and worksheets as <br />required to facilitate recordkeeping and information gathering. Prepare journal entries for <br />adjustments to GAAP reporting and provide the audit trail for the annual audit <br />examination. <br />Begin with cash basis information provided by the City which will be assumed correct, <br />prepare accrual journal entries based on the information provided by the City, and <br />prepare GAAP basis financial statements (combining and combined) and related footnote <br />disclosures from information gathered by the City. Review and consult on the <br />Management's Discussion and Analysis, the Introductory Section and the Statistical <br />Section of the CAFR and insure the amounts represented in these other sections agree to <br />the amounts presented in the financial statements. Provide trial balances for the auditors <br />to utilize. <br />Provide assistance after the audit is complete with the posting of any audit entries to the <br />financial statements, including any footnote disclosure, and providing an electronic <br />O �J15 <br />