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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 1 SEVERN TRENT ENVIRONMENTAL LEADERSHIP // 11:N1 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 2 SEVERN TRENT ENVIRONMENTAL LEADERSHIP 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 3 SEVERN TRENT ENVIRONMENTAL LEADERSHIP I/ ARRN 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 4 SEVERN TRENT ENVIRONMENTAL LEADERSHIP 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 5 SEVERN TRENT ENVIRONMENTAL LEADERSHIP 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 6 SEVERN TRENT ENVIRONMENTAL LEADERSHIP /rim:\ 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 7 SEVERN TRENT ENVIRONMENTAL LEADERSHIP 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 8 SEVERN TRENT ENVIRONMENTAL LEADERSHIP