HomeMy Public PortalAboutFinancial Services Contract Proposal, October 1999MOYFR & ASSOCIATES
Vi1AGE of KEy BiscAyNE
FINANciAI SERVICES
CONTRACT PROPOSAL
OcrobER 1999
We appreciate this opportunity to offer our consulting services
to the Village of Key Biscayne We believe our experience will
be valuable to the Village's needs now and in the future
The Financial Services of a municipality requires a uniquely qual-
ified firm that has extensive experience in the public sector and
the ability to implement policy directives of the Village Council
and Manager
Through our consulting experience, we believe that establishing
a close working relationship with the Council, Village Manager,
Contract Providers and Residents of the Community - is the key
to the success of this service
We believe a high caliber of personnel is critical to the efficient
execution of this service With a wide base of local
government clients, we can afford to staff our
respective service areas with experts Our
comprehensive approach saves the client
from a need to hire several consultants
Staff's contract management time will
be less and the total costs for adminis-
tration and financial services will be
minimized We look forward to provid-
ing a uniquely qualified team for this
project Based on our knowledge of
the Village's needs, and our discussions
with the Village Manager, our proposal
includes the following responsibilities
• Investment of the Village of Key Biscayne Surplus
Funds and Bond Funds
• Financial Advisory Services
• Fund Accounting
• Payroll Vendor Contract Administration
• Revenue Collection
• Budget
• CAFR
• Insurance
• Solid Waste Billing & Collection
• Occupational Licenses Billing & Collection
Optional Services
• Special Assessment Billing & Collection
• Information System Administration
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MOyER & ASSOCIATES
Vil1AgE of KEY BiscayNE
FiNANciAI SERVICES
CONTRACT PRoposAl
OcrobER 1999
These services constitute an integrated approach to providing
financial and inter -related services to the Village of Key
Biscayne Moyer & Associates/Severn Trent is a pioneer in the
field of Contract Services to Local Government We are a
leader in the industry in our efforts to continually enhance and
broaden our scope of services to the communities we serve
SUMMARY OF SERVICES
Investment of the Village of Key Biscayne
Surplus Funds & Bond Funds
Moyer & Associates/Severn Trent has over
years of experience with all aspects of gov-
ernment financing Our firm has been
actively involved in the preparation and
issuance of more than seventy-five (75)
municipal bond issues totaling in excess of
$15 billion and is responsible for the
administration of these funds
Moyer & Associates/Severn Trent has
numerous 'firsts" associated with its industry
Many of these have become standard
practice within the bond administration
industry due to competitive pressures
Among these 'firsts" are investor relations,
delinquency management, bond fund bal-
ance monitoring, and full bond call coordination
twenty-five
125)
Investment policies of the Village's Surplus Funds are outlined in
Chapter 218 Florida Statutes and will be followed as directed
by the Village in accordance with State law Comparisons of the
various investment choices will be evaluated based on numerous
factors such as maturity, liquidity requirements, risk and diversifi-
cation
Financial Advice
By virtue of the length and breath of our financial experience,
quality of personnel and ability to draw on the best advisors,
Moyer & Associates/Severn Trent has the capability to provide
rapid and state-of-the-art financial advise Our clients always
know that their governments will be at the forefront of finance
and law, not trailing the world as the financial environment
changes
Our goal is to provide leading class financial advise
to the Village Council and staff in order for them to
make informed policy decisions
Fund Accounting
Moyer & Associates/Severn Trent recognizes the
unique environment in which local government
operates and we will exceed our clients expecta-
tions in providing public sector accounting with a
committed and highly trained and dedicated team
Our firm will establish and implement policies
designed to assure the maximum degree of benefit
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MOYFR & ASSOCIATES
Vi11AGE of KEy BiscayNE
FiNANCiA1 SERVICES
CONTRACT PROpOSA1
OCrobER 1999
to the client while at the same time fulfilling all applicable gov-
ernment requirements Moyer & Associates/Severn Trent will
establish and maintain a Fund Accounting System in accordance
with Governmental Accounting Standards Board, the Uniform
Accounting System prescribed by Department of Banking and
Finance , Rules of the Auditor General and all other applicable
requirements The firm will also maintain accounts payable and
receivable, purchasing, general fixed asset accounting, and
facilitate preparation of an Annual Audit
Payroll Vendor Contract Administration
Moyer & Associates/Severn Trent will oversee a third party
administration of a payroll, personnel records & benefit contract
Our firm will insure that the Village employees receive the high-
est possible degree of services they are entitled to
Revenue Collection
Moyer & Associates/Severn
Trent will employ the most
appropriate means to assure
the highest degree of collec-
tion possible As a part of
this function, our firm will
work closely with the county
Property Appraiser and
Revenue Collector and other
franchise provider to insure
maximum revenue collection
Budget
Moyer & Associates/Severn Trent will prepare a budget that
identifies all of the revenue required to fund expenditures asso-
ciated with providing services at levels desired by the residents,
set by the Village Manager and approved by the Village
Council To that end, our firm will coordinate with other Village
departments to assure maximum cost -benefit equity for inclusion
in the proposed budgets
CAFR
Moyer & Associates/Severn Trent will prepare a quality
Comprehensive Annual Financial Report Drawing on the
strengths of our internal accounting and auditing as well as
expert partners, the Village shall receive a report useful and
understandable by experts and citizens alike
Insurance
Moyer & Associates/Severn
Trent will analyze general
liability, public officials liabil-
ity, fixed asset, as well as
personnel life, medical,
vision, dental, disability, etc
insurance for the Village
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MOVER & ASSOCIATES
Vi11AgE of KEy B!SCAyNE
FiNANCiAI SERVICES
CONTRACT PRopOSAI
OCrobER 1999
Our experience in this field will provide for a multiple vendor
comparison to show ranges and effects for the Village's varied
insurance requirements
Solid Waste Billing
Moyer & Associates/Severn Trent will provide solid waste
installment billing service Our firm will setup and maintain a cus-
tomer database used to prepare accurate billing notices, moni-
tor collection effectiveness, and research and record liens
placed due to nonpayment
Occupational Licenses Billing & Collection
Moyer & Associates/Severn Trent will implement and support
occupational license billing and collection Our staff is highly
trained in this service and is aware of the inter -agency cooper-
ation needed to make it effective The creation and maintenance
of a licensee database will insure that licenses and collections
are accurate and up-to-date
Optional Services
Special Assessments Billing & Collection
Moyer & Associates/Severn Trent possesses expert understand-
ing of the intricacies of utilizing special assessments and special
benefit assessments as revenue sources As a part of its financial
services functions, our firm is able to provide all necessary billing
and collection functions involved with special assessments should
the Village find this revenue source in their best interests
Information Systems Administration
Moyer & Associates/Severn Trent employs leading edge infor-
mation systems administered by our own highly developed staff
As part of our services, we are able to provide all aspects of
evaluation, design, implementation, operation and maintenance
of the Village's Information System requirements
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MOyER & ASSOCIATES
Vi11AGE of KEy BiscayNE
FINANCIAL SERVICES
CONTRACT PROPOSAI
OclobER 1999
LISTINCI Of SERVICES
Investments of Surplus Funds & Bond Funds
• Prepare Required Investment Policies and Procedures pur-
suant to Chapter 218, Florida Statutes
• Produce timely investment reports stating the effectiveness of
the chosen investment policy
Financial Advisory Services
• Identification of significant policies and implementation with
administrative and financial impact statement and effect on
governmental agencies
• Provide extensive reference to various financial scenarios
regarding local government operations including locally levied
taxes, licenses & permits, inter -governmental revenues, charges
for services, fines & forfeiture and other miscellaneous revenue
• Attend required Village Council meetings and provide the
Council with meaningful dialogue of financial issues before the
Council for action
Fund Accounting
• Establish Fund Accounting System in accordance with
Governmental Accounting Standards Board, the Uniform
Accounting System prescribed by Department of Banking and
Finance for Government Accounting and the Rules of the Auditor
General
• Preparation of Public Depositors Report and distribution to
State Treasurer
• Coordination and distribution to appropriate agencies of
Annual Public Facilities Report
Accounts Payable
• Administer purchase order system, periodic payment of
invoices
Accounts Receivable
• Coordination of tax collection, franchise fees, utility taxes and
all other miscellaneous receivables
Annual Audit
• Preparation of all required schedules for year end audit
• Prepare schedule of Bank Reconciliations
• Prepare cash and Investment confirmations for distribution to
Authorized Public Depositories and Trustee of Village Bond
Issues
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MOYER & ASSOCIATES
Vi11AgE of KEy B!SC4yNE
FiNANCiA1 SERVICES
CONTRACT PROPOSAL
OcTobER 1999
♦ Prepare analysis of Accounts Receivable
♦ Prepare schedule of Interfund Accounts
♦ Prepare schedule of Payables from the Governments
♦ Prepare schedule of all Prepaid Expenses
♦ Prepare debt Confirmation Schedules
♦ Prepare schedule of Accounts Payable
♦ Prepare schedule of Changes in Fund Balances
♦ Prepare schedule of Assessment Revenue compared to
Budget
♦ Prepare schedule of Interest Income and provide
Reasonableness Test
♦ Prepare schedule of Investments and Accrued Interest
♦ Prepare analysis of All Other Revenue
♦ Prepare analysis of Salaries
♦ Prepare analysis of Interest Expenses and Calculate Accrued
Interest Expense at year end
♦ Prepare schedule of Operating Transfers
♦ Prepare schedule of Cash Receipts and Cash Disbursements
♦ Prepare analysis of Cost of Development and Construction
in Progress
♦ Prepare analysis of Reserves for Encumbrances
♦ Prepare analysis of Retainages Payable
♦ Prepare Amortization and Depreciation Schedules
♦ Prepare General Fixed Asset and General Long -Term Debt
Account Groups
General Fixed Asset Accounting
♦ Assets constructed by or donated to the Village for mainte-
nance
♦ Inventories of Village property in accordance with the Rules
of the Auditor General
Payroll Vendor Contract Administration
♦ Coordination of all employee time cards, pay records or
other required documentation with the payroll vendor as well as
contract administration over the vendor for compliance with the
Village's specifications
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MOVER & ASSOCIATES
Revenue Collection
Vi1[AgE 0! KEY BiscAyNE
FINANCIAL SERVICES
CONTRACT PROPOSAL
OcrobER 1999
• Interface with local, state and federal agencies on taxes,
fees, charges and revenue sharing programs applicable to the
Village
• Administer the fees, charges and other miscellaneous rev-
enues pertaining to utilities, private enterprises and individuals as
they interface with Village programs
• Application of liens or other enforcement actions to induce
payment in accordance with the Villages policies and proce-
dures
• Preparation of monthly financial reports showing revenues to
date in comparison with budget projections
Budget
• Preparation and submittal of annual budgets
• Liaison with all Village departments for annual budget cate-
gories
• Provide material for and attend all budget meetings, hear-
ings and workshops
• Submit all required documentation with the Department of
Revenue and provide all necessary reports for public advertise-
ments and public hearings
CAFR
• Preparation of Annual Financial Report for Units of Local
Government and distribution to the State Comptroller
Insurance
• Preparation of Specifications and coordination for the fol-
lowing services
• Insurance, General Liability, Director's and Officer's Liability
and all other policies required by the Village of Key Biscayne
Solid Waste Billing
• Creation of database and administration of billing method-
ology
• Periodic residential billing and collection
• Collection management through placement of liens or other
collective devices as approved by the Village
Occupational Licenses Billing & Collection
• Creation and continuous maintenance of an occupational
license database
• Initial and renewal billing and collection
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Vi1IAgE Of KEy BiscAyNE
11.11.'1: ‘ ii ,' FlNANciA1 SERVICES
CONTRACT PROPOSAL
MOVER & ASSOCIATES OCTObER 1999
Optional Services
Special Assessments Billing & Collection
• Will prepare and maintain a parcel database using the
Parcel database from the County's roll
• Monitor assessment billing and send delinquency reminder
letters
Information System Administration
• Evaluation of existing Information Systems
• Recommend new Information Technology as applicable and
available
• Install and maintain Information System hardware, software
and desktop support
• Install and maintain Information System hardware, software
and desktop support
These services listed are a representation of tasks associated
with the operation of financial service for a municipality Moyer
• Associates/Severn Trent is a multi -disciplined organization
capable of providing additional services as requested by the
Village of Key Biscayne
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