Title
a. Authorize the Auditor-Controller or designee to sign a Professional Services Agreement (PSA) in the amount of $31,500 with American Appraisal Associates, Inc. to inventory and reconcile the County's capital assets data and records
b. Approve a waiver of specific provisions of the County's standard PSA related to indemnity.
Body
RECOMMENDATION:
It is recommended that the Board of Supervisors approve and authorize the Auditor-Controller or designee to sign a Professional Services Agreement (PSA) in the amount of $31,500 with American Appraisal Associates, Inc. to inventory and reconcile the County's capital assets data and records, and approve a waiver of specific provisions of the County's standard PSA related to indemnity.
SUMMARY:
The last physical inventory and reconciliation of the County's capital assets was performed in 2007. This agreement will allow the County to record capital asset transfers and deletions since the last physical inventory; reconcile the capital assets inventoried with the records maintained in the County's database; maintain proper accountability and stewardship of the County's assets; and comply with the reporting requirements of Generally Accepted Accounting Principles (GAAP).
A copy of the proposed PSA is on file with the Clerk to the Board. Differences from the standard PSA language relating to indemnification and the handling of records have been reviewed with the Department and are considered acceptable in light of the purpose and amount of the contract.
OTHER AGENCY INVOLVEMENT:
This PSA has been reviewed by County Counsel as to legal form, the Auditor-Controller as to financing terms, and Purchasing for appropriate documentation.
FINANCING:
The cost of the recommended PSA is $31,500. Appropriations of $29,000 for this recommendation for Governmental Funds are included in Appropriation Unit AUD002 - Annual County Audit. Appropriations of $2,500 for Parks Enterprise Fund are included in PAR004 - Lakes Enterprise. There is no additional cost to the County General Fund associated with this recommendation.
Prepared by: Jill Baucom, Auditor-Controller Analyst, 755-5284
Approved by: Michael J. Miller, Auditor-Controller, 755-5040
Attachments:
American Appraisal agreement
American Appraisal proposal
Certificate of Liability Insurance