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Home My WebLink AboutContract 55644-A1weaver AssUtcmce. Tax. Advisory March 4, 202 l David Cooke, City Manager City of Fort Worth, Texas 200 Texas Street Fort Worth, Texas 7612 Dear Mr. Cooke: By our mutual agreement, we agree to perform the following additional agreed-upon procedures in addition to those agreed to in our engagement letter dated February l, 2021, CSC 55644, relat�d to our series we are to provide for the City of Fort Worth, Texas (the City). Reason for this engagement letter addendum -Addition of PID 20 -East Lancaster A venue to scope of agreed-upon procedures as follows: l)We will apply the agreed upon procedures outlined in our engagement letter dated February 1,2021 to PID 20-East Lancaster. The fee for additional services from the amendment will be an amount up to $2,500. All original nature, terms and limitations from our engagement letter dated February 1, 2021 remain in force. Please sign and return the attached copy of this letter to indicate your acknowledgement,of, and agreement with, the arrangements for our engagement. We appreciate the opportunity to be of service to you and look forward to working with you and your staff. WEAVER AND TIDWELL, L.L.P. Weaver and Tidwell, L.L.P. 2821 West 7th Street, Suite 700 I Fort Worth, Texas 7 6107 Main: 817 .332.7905 CPAs AND ADVISORS I WEAVER.COM CSC No. 55644-A1 David Cooke City of Fort Worth, Texas March 4, 2021 Page 2 of 2 RESPONSE: This letter correctly sets forth our understanding. Acknowledged and agreed on behalf of the City of Fort Worth, Texas by: B�/: �esus . ana ar zbu : e�a Printed Name�e��s�. a a a� .zo :os 1�apa Title: ��'��ager Date: ��8621 APPROVED AS TO FORM AND LEGALITY: BY: ��. uJ�l� Tyler F. Wallach Assistant City Attorney Aooroval: NA Contract Comaliance Manaaer: By signing� I acknowledge that I am the person responsible for the monitoring and administration of this contract, includina ensurinq all performance and reoorting reauirements. %i � Printed Name: To�vR � �a�(Ma�<,zoziis:o7csT)^ Title: Assistant Director, FMS ATTEST: By: `IV��e�� Mary J. Kayser CItV S@Cf@tql'Y �- u po� FORr�a� >� a oo,A � �� o 0 0 �g o= �o 0 o ° o � 0 �� EXASoA'pa Rn4 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX ,� weaver� �, , , . �„. r�, .,,, February l, 2021 David Cooke, City Manager City of Fort Worth, Texas 200 Texas Street Forf Worth, TX 76102 Dear Mr. Cooke: ' �` r a n ^-��Y �;' � ,. `i8 ( b �-f�D �O This letter sets forth our understanding for applying agreed-upon procedures to certain public improvement districts (the PIDs) of the City of Fort Worth, Texas (the City) as of or for the period ended September 30, 2020 as follows: • City of Fort Worth Public Improvement District No. 1- Downtown, . City of Fort Worth Public Improvement District No. 6- Park Glen, • City of Fort Worth Public Improvement District No. 7- Heritage, • City of Fort Worth Public District No. 1 1-Stockyards . City of Fort Worth Public District No. 12 - Chapel Hill, . City of Fort Worth Public District No. 14-Trinity Bluff, • City of Fort Worth Public District No. 15 -Sun Valley, and • City of Fort Worth Public Improvement District No. 19 - Historic Camp Bowie This engagement is solely for the purpose of reporting our findings in regards to the results of the procedures performed. The procedures we will perform have been agreed to by the City. Our Responsibilities For each of the identified PIDs, we will apply the following procedures: 1. We will select a sample of expenditures from the population of all expenditures incurred during the year ended September 30, 2020. The sample size will be the lesser of 10% of the number of expenditure transactions or 25 expenditure transactions; 2. For the sampled items in step number 1 we will obtain and review the supporting invoice and payment documentation to determine whether they agree with each other and to compare the amount recorded in the accounting records to these supporting documents; 3. We will obtain the PID Budget and Service Plan (the Plan) for the year ended September 30, 2020 and ensure that the Plan was approved by the City of Fort Worth; 4. We will compare final expenditures from the general ledger to the Plan and report any variances of expenses in the general ledger exceeding the Plan, either within the management fee category or in total. A schedule of all expenditure categories compared to the Plan will be attached as an exhibit to each reporf 5. For the sampled items selected in step number 1 we will determine if the expenditure was properly classified within the Plan (i) by functional category and (ii) in the appropriate fiscal year. 6. We will summarize the detail for all expenditures for each PID by vendor. For expenditures incurred by any PID to individual vendors in excess of $50,000 during the year ended September 30, 2020, we will select a sample of 25% of the number of vendors for that PID in excess of $50,000 and determine if competitive procurement is required, and if required, determine whether procurement requirements were performed. ��E�� , . _ �;�i � �� Gu��fF�6��f i �ir ��k��'i 9-0� `I� %; ',' i Weaver and Tidwell, I .I_P. 2821 West 7th Street, Suite 700 � Forf Worfh, Texas 76107 Main: 817.332.7905 CPAs AND ADVISORS � WEAVER.COM City of Fort Worth, Texas February l, 2021 Page 2 We will conduct our engagement in accordance with the attestation standards for agreed-upon procedures engagements of the American Institute of Certified Public Accountants and, the standards applicable to attestation engagements contained in Government Auditing Standards issued by the Comptroller General of the United States. We are responsible for carrying out the procedures and reporting findings in accordance with these standards. The sufficiency of these procedures is solely the responsibility of the specified parties. Consequently, we make no representation as to the sufficiency of these procedures for the purposes of the specified parties or for any other purpose. The agreed-upon procedures to be performed do not constitute an examination or review of the subject matter. Accordingly, we will not express an opinion or conclusion on the subject matter. If we did perform additional procedures, other matters might come to our attention that would be reported to you. Your Responsibiliiies With respect to any nonattest services we may provide, the City's management is responsible for (a) making all management decisions and performing all management functions; (b) assigning a competent individual, preferably within senior management, to oversee the services; (c) evaluating the adequacy of the services performed; (d) evaluating and accepting responsibility for the results of the services performed; and (e) establishing and maintaining internal controls, including monitoring ongoing activities. As part of our engagement, we will request from management written confirmation concerning representations made to us in connection with the agreed upon procedures. Engagement Fees We estimate that the fee for our engagement will be as follows: $2,500 per PID for agreed upon procedures for: . City of Forf Worfh Public Improvement District No. 1- Downtown, . City of Fort Worth Public Improvement District No. b- Park Glen, • City of Fort Worth Public Improvement District No. 7- Heritage, . City of Forf Worfh Public District No. 11 - Stockyards, • City of Fort Worth Public District No. 12 - Chapel Hill, • City of Fort Worth Public District No. 14-Trinity Bluff, . City of Fort Worth Public District No. 15 - Sun Valley, and • City of Fort Worth Public Improvement District No. 19 - Historic Camp Bowie Our engagement fees do not include any time for post-engagement consultation with your personnel or third parties, consent letters and related procedures for the use of our reports in offering documents, inquiries from regulators or testimony or deposition regarding any subpoena. Charges for such services WIII hP. %IIIP,Ci SP,�C7f(7tP.IY. Our engagement fees do not include consulting on the adoption of new accounting standards and any increased duties because of any regulatory body or an unknown or unplanned significant transaction. We will consult with you in the event any of these take place that may affect our fees. City of Fort Worth, Texas February l, 2021 Page 3 Our Reporf and Other Relevant Information Our report will list the procedures performed and our findings. Our report will be addressed to the Company and will be intended for use by and restricted to the use of the specified parties as identified above. Our report will contain such restricted-use language. Should we have any reservations with respect to the subject matter, we will discuss them with you before the report is issued. We have no responsibility to update our report for events and circumstances occurring after the date of our report. During the course of our engagement, we will request information and explanations from management regarding the City's operations, future plans, specific transactions and accounting systems and procedures. At the conclusion of our engagement, we will require, as a precondition to the issuance of our report, that management provide cerfain representations in a written representation letter. The City agrees that as a condition of our engagement that management will, to the best of its knowledge and belief, be truthful, accurate, and complete in all representations made to us during the course of the cngagcmcnt and in the written representation letter. The procedures we perform in our engagement and the conclusions we reach as a basis for our report will be heavily influenced by the written and oral representations that we receive from management. False or misleading representations could cause us to expend unnecessary efforts in our engagement; or, worse, could cause a material error or a fraud to go undetected by our procedures. In the unlikely event that circumstances occur which we in our sole discretion believe could crcatc a conflict with either the ethical standards of our firm or the ethical standards of our profession in continuing our engagement, we may suspend our services until a satisfactory resolution can be achieved or we may resign from the engagement. We will notify you of such conflict as soon as practicable, and will discuss with you any possible means of resolving them prior to suspending our services. The hiring of or potential employment discussions with any of our personnel could impair our independence. Accordingly, you agree to inform the engagement partner prior to any such potential empioyment discussions taking place. Whenever possible, this engagement letter shall be interpreted in such a manner as to be effective and valid under applicable laws, regulations, or published interpretation, but if any term of this engagement letter is declared illegal, unenforceable, or unconscionable, that term shall be severed or modified and the remaining Terms of the engagement letter shall remain in force. The parties agree that the court should modify any term declared to be illegal, unenforceable, or unconscionable in a manner that will retain the intended term as closely as possible. If because of a change in status or due to any other reason, any provision in this engagement letterwould be prohibited by, or would impair our independence under laws, regulations or published interpretations by governmental bodies, professional organizations or other regulatory agencies, such provision shall, to that extent, be of no further force and effect and this agreement shall consist of the remaining portions. During the course of the engagement, we may communicate with you or with your personnel via fax or e-mail, and you should be aware that communication in those mediums contains a risk of misdirected or intercepted communications. City of Fort Worth, Texas February l, 2021 Page 4 Mr. Kevin Sanford is the engagement partner for the services specified in this letter. His responsibilities include supervising the engagement and signing the report or authorizing another individual to sign it. We plan to begin o�r procedures in December 2020, and unless unforeseeable problems are encountered, the engagement should be completed by February 2021. The terms and conditions of "Appendix A General Terms and Conditions" of Fort Worth City Secretary Contract 48167, as amended by Contract 48167-RIAI, shall generally apply to the engagement under this letter. To the extent of any conflict, the terms of this letter shall control. We look forward to a continued relationship with your organization, and we are available to discuss the contents of this letter or other professional services you may desire. Please sign and return the attached copy of this letter to indicate your acknowledgment of, and agreement with, the arrangements for our engagement including our respective responsibilities. If you have any questions, please let us know. Gt/�Pil w� �,�� WEAVER AND TIDWELL, L.L.P. City of Fort Worth, Texas February l, 2021 Page 5 RESPONSE: This letter correctly sets forth our understanding. Acknowledged and agreed on behalf of the City of Fort Worth, Texas by: f By. l,, P�t�ted Name: David Cooke ritie: City Manager Date: APPROVED AS TO FORM AND LEGALITY: , gy: � �� '��.�'� � ��1c1��-/Z� ( �� Tvler F. Wallach Assistant City Attornev Approval: NA Contract Compliance Manaaer: By siqninq, I acknowledqe that I am the person responsible for the monitorina and administration of this contract, includinq ensuring all performance and reporfinq requirements. "o fy �! �, �y_�_ � � � _ Printed Name: -`� � t�� o., ., i��- � sl� �-v � Titie: Assistant Finance Director �� .. .t 5 k }Fj � i`s,,y . ATTEST: / ) r r�� ....� i Q�`'�; �� /� - � f t � ' •. .�'�'i �. ,' / � / f `. .. � 4.�-r--'� ' �. . .. BY; , , .', �' '"�•.� `-� �•, � � Mary J. Kayser ' `�'� � Citv Secretary � �� r ' ',. . ;", !:s�L'f�N�!l�f� �'��QFr3�� ;;�i�? ��i� ��'G��=3� I;�� 1'�i�; �P� _,—.�.»_4