SUBJECT
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Approve Clifton Larson Allen Master LLP Service Agreement and FY2025 Statement of Work for Financial Management Accounting Services (Action)
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DESCRIPTION
Presented for the Board’s consideration is a Master Service Agreement (MSA) and a Statement of Work (SOW) to the MSA for accounting and financial support services for Fiscal Year 2025 (October 1, 2024 - September 30, 2025). Clifton Larson Allen (CLA) will continue to provide normal accounting services (such as account receivables, budgeting, business metrics, and cash access) and take a more active role in the management of cash flow and reporting as the PRWC’s finances become increasingly complex due to the numerous funding sources and financial tracking requirements. Financial statements for auditing purposes will now be prepared by the PRWC auditor.
The fixed fee for the accounting services will be a fixed monthly fee of $3,800 per month plus 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 FY2025 PRWC administrative budget provides appropriations of $45,000 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 FY2025.
FISCAL IMPACT
The financial impact to the PRWC for FY2025 will be a fixed fee of $3,800 per month plus out-of-pocket expenses.
CONTACT INFORMATION
Eric DeHaven