SUBJECT
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Approve the Clifton Larson Allen Financial LLP FY2027 Statement of Work for Financial Management Accounting Services (Action Item)
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DESCRIPTION
Presented for the Board’s consideration is the Statement of Work (SOW) for accounting and financial support services for Fiscal Year (FY)2027. Clifton Larson Allen (CLA) will continue to provide recurring accounting services (such as member billings, vendor payments, monthly bank reconciliations, general ledger updates, and Board meeting attendance) and assist management with cash flow, budgeting, financial audit, and reporting. Financial statements for auditing purposes will continue to be prepared by the PRWC auditor.
The fixed fee for the accounting services, which did not increase in FY2026, has increased by 2.5% for FY2027 which equates to a $95 increase per month. The fixed monthly fee is $3,895 per month plus technology fee and out-of-pocket expenses. The fixed fee includes unlimited meetings and phone calls to discuss operations, business matters, and accounting issues of the PRWC. The out-of-pocket expenses include out-of-town travel, meals, and lodging.
The FY2027 PRWC administrative budget provides appropriations of $53,400 for the CLA accounting services. Sufficient funds are in the administrative budget for the financial management tasks.
RECOMMENDATION
Approve the Clifton Larson Allen Statement of Work for FY2027.
FISCAL IMPACT
The financial impact to the PRWC for FY2027 is projected to be $53,400, including technology and out-of-pocket expenses.
CONTACT INFORMATION
Laura Guy-Rice