Agmt 2001 Caporicci Cropper & Larson LLP

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8. This agreement shall be for audit services covering the financial statements listed in Appendix B of this Agreement for the fiscal years 2000/01, 2001/02 and 2002/03. B. Implementation of GASB 34 Phase 1 -Planning and Research • Organize the project. • Develop timetable and identify key dates. • Review City prepared policies relating to depreciation (basic vs. modified approach), capitalization threshold, and recognition of accrual basis conversion items for financial statement presentation. • Identify team members and assign tasks. • .Establish tracking, monitoring, and follow up mechanisms for both financial reporting and capital assets, status reporting format, and meeting schedule. 2. Phase II - Develop an ongoing maintenance system to assure continued accuracy of the capital asset records. • Review current City policies relating to acquisition, maintenance, disposal and recording of City property. • Aid the City in modifying existing policies to assure accurate and timely recognition of property related transactions as well as assignment of responsibility for the safeguarding of the City property. • Review City's infrastructure maintenance systems or modify existing maintenance systems. • Determine that routine verification and follow-up procedures exist and determine if policies are being followed. • Review the City's quarterly reconciliation of property records. • Review periodic inventory counts of physical property and reconcile to fmancial records. 3. Phase III -Modify current accounting systems to reflect change from modified accrual basis to full accrual basis accounting and develop new fmancial reporting models. • Review the City's evaluation of current accounting systems and identify areas requiring changes. • Develop list of transactions requiring additional journal entries and timing of recording into the accounting records. EXHIBIT A Page 2 of 3 AGRE~EXHIBITA.DOC (Word 6.0)