HomeMy WebLinkAboutR-2022-082 Addendum to the Agreement with RSM US LLP for External Auditing Services RESOLUTION NO. R-2022-081
A RESOLUTION APPROVING AN ADDENDUM TO THE AGREEMENT WITH RSM
US LLP FOR EXTERNAL AUDITING SERVICES
BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,
MISSOURI AS FOLLOWS:
THAT the Riverside Board of Aldermen hereby approves the Addendum to the
Agreement with RSM US LLP for external auditing services, a copy of which is attached hereto,
and further authorizes the Mayor to sign the letter on behalf of the City; and
FURTHER THAT the Mayor, the City Administrator, the Finance Director and other
appropriate City officials are hereby authorized to take any and all actions as may be deemed
necessary or convenient to carry out and comply with the intent of this Resolution and to execute
and deliver for and on behalf of the City all certificates, instruments, agreements and other
documents, as may be necessary or convenient to perform all matters herein authorized.
PASSED AND ADOPTED by the Board of Aldermen of the City of Riverside,
Missouri, the /9 `day of , 2022.
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Mi Kathleen L. Rose
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ATTEST ` •
Robin Kincaid; City Clerk
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July 11,2022 RSM US LLP
4622 Pennsylvania Ave
Board of Aldermen Suite 1100
City of Riverside, Missouri Kansas City, MO 64112
City Hall T+1 816 753 3000
2950 N.W.Vivion Road F+1 816 751 1890
Riverside, MO 64150
wvwN.rsmus.com
Attention: Brian Koral, City Administrator
Erika Benitez, Finance Director
This letter shall serve as an addendum (the"Addendum")to the arrangement letter dated March 7,2022, by
and between the City of Riverside, Missouri (the"City") and RSM US LLP (the"Arrangement Letter"),which
explained our understanding of the arrangements for services we are to perform for the City as of and for the
year ended June 30, 2022.All terms of the Arrangement Letter shall remain the same,with the following
amendment to the"Nonaudit Services, and Fees and Costs"sections of the Arrangement Letter.
Nonaudit Services
In connection with our audit,you have requested us to perform certain nonaudit services:
1) Assistance with preparation of the Annual Comprehensive Financial Report(ACFR)
2) Printing and binding of the financial statements
GAS independence standards require that the auditor maintain independence so that opinions,findings,
conclusions,judgments and recommendations will be impartial and viewed as impartial by reasonable and
informed third parties. Before we agree to provide a non-audit service to the City,we determine whether
providing such a service would create a significant threat to our independence for GAS audit purposes,either
by itself or in aggregate with other non-audit services provided.A critical component of our determination is
consideration of management's ability to effectively oversee the non-audit services to be performed. The City
has agreed that Erika Benitez, Finance Director possesses suitable skill, knowledge or experience and that the
individual understands the 1.)assistance with preparation of the ACFR and 2.) printing and binding of the
financial statements services to be performed sufficiently to oversee them.Accordingly,the management of the
City agrees to the following:
1. The City has designated Erika Benitez, Finance Director as a senior member of management who
possesses suitable skill, knowledge and experience to oversee the services;
2. Erika Benitez, Finance Director will assume all management responsibilities for subject matter and scope
of the 1.)assistance with preparation of the ACFR and 2.) printing and binding of the financial statements
services;
3. The City will evaluate the adequacy and results of the services performed;and
4. The City accepts responsibility for the results and ultimate use of the services.
GAS further requires that we establish an understanding with the City's management or those charged with
governance of the objectives of the non-audit services,the services to be performed,the City's acceptance of
its responsibilities,the auditor's responsibilities and any limitations of the non-audit services.We believe this
Arrangement Letter documents that understanding.
THE POWER OF BEING UNDERSTOOD
AUDIT I TAXI CONSULTING
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RSM US LLP is the U.S.member firm of RSM International,a global network of Independent audit,tax,and constdting firms.Visit rsmus.comfaboutus for more inform� rmearding PSM US LLP and
RSM International. -
City of Riverside, Missouri
July 11,2022
Page 2
Fees and Costs
Our fees for the services described above are based upon the value of the services performed and the time
required by the individuals assigned to the engagement, including direct expenses, including report processing,
travel, meals, and fees for services from other professionals. Our fee for the services described in this letter are
estimated to be$31,450 for the financial statement audit,and$6,000 for the drafting of the ACFR, as well as a
charge of 5% of fees for all other expenses, including indirect administrative expenses such as technology,
research and library databases, communications, photocopying, postage and clerical assistance. Our fee
estimate and completion of our work are based upon the following criteria:
1. Anticipated cooperation from City personnel
2. Timely responses to our inquiries
3. Timely completion and delivery of client assistance requests
4. Timely communication of all significant accounting and financial reporting matters
5. The assumption that unexpected circumstances will not be encountered during the engagement
If any of the aforementioned criteria are not met,then fees may increase. Interim billings will be submitted as
work progresses and as expenses are incurred. Billings are due upon submission.
Except as modified by this Addendum,all other provisions of the Arrangement Letter, remain unchanged and in
full effect.
Acknowledgement and Acceptance
Each party acknowledges that it has read and agrees to all of the terms and conditions contained herein. Each
party and its signatory below represents that said signatory is a duly authorized representative of such party
and has the requisite power and authority to bind such party to the terms set forth in this Addendum.
AGREED TO AND ACKNOWLEDGED BY:
RSM US LLP
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Kristen Hughes, Senior Director
Confir ed on behalf of City Riverside, Missouri:
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Kathl Rose, Board of Aldermen Chair/Mayor D a t
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Tian ' oral, Ci, Adminis tor Date
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Erika Benitez, Finance Director Date