BCRUA_R-09-07-08-8A RESOLUTION NO. R-09- 07- t'
WHEREAS, the Brushy Creek Regional Utility Authority (BCRUA)
desires to enter into an Engagement Agreement with Pena Swayze &
Co. , L.L. P. for accounting services, Now Therefore
BE IT RESOLVED BY THE BRUSHY CREEK REGIONAL UTILITY
AUTHORITY,
That the Board President is hereby authorized and directed to
execute on behalf of the BCRUA an Engagement Agreement with Pena
Swayze & Co. , L.L.P. , a copy of same being attached hereto as
Exhibit "A" and incorporated herein for all purposes .
The Board hereby finds and declares that written notice of the
date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to
the public as required by law at all times during which this
Resolution and the subject matter hereof were discussed, considered
and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 8th day of July, 2009 .
MITCFULLER, President
Brush Creek gional Utility Authority
F
cretary
Sings\madams.CORR\L—a1 S—tinge\Temporary 1—e— F11es\0LK1C0\Ree Bc UA - Engagemenc Ag- w-Pena Swayze (001646501 DOC/Me
PENA SWAYZE & CO., L.L.P.
100 CERTIRED PUBLIC ACCOUNTAWS
June 30,2009
Brushy Creek Regional Utility Authority
221 E.Main Street
Round Rack, Texas 78664
To Whom It May Concern:
This letter is to confirm and clarify the following professional services we will provide
for Brushy Creek Regional Utility Authority(BCRUA).
Accoundng Services
1. We will develop accounting and internal control procedures for the
administration and reporting of financial activities of the Authority.
2. We will enter all accounts payable invoices and prepare checks for
approval and signature.
3. We will record all cash receipts and deposits.
4. We will perform monthly bank reconciliations for each bank account.
5. We will perform monthly adjusting journal entries as necessary.
6. We will prepare payroll,payroll tax deposits,and all required payroll reporting.
7. We will prepare required annual 1099's.
6. Prepare an unaudited(compiled)balance sheet and income statement
monthly to be presented at the subsequent board meeting.
7. Assist in preparing annual budget and monthly budget comparison.
8. Provide any other accounting assistance and administrative services as
expressly requested in writing.
Our Fees
Our engagement fees are based upon the amount of time required at our standard
billing rates for the personnel working on the engagement plus out-of-pocket expenses. Our
invoices for these fees will be rendered each month as work progresses and are payable on
presentation.
Partner $250-S300
Manager 125 - 250
Staff 75 - 100
MEMBER AMERICAN INSTITUTE AND TEXAS SOCIETY OF CERTIFIED PUBLIC ACCOUN7AATS
P.O.BOX 250 ROUND ROCK,TEXAS 78660 512-255-2165 FAX 512-255-2466
Brushy Creek Regional Utility Authority
June 30,2009
Page Two
These services cannot be relied upon to disclose all errors, irregularities, or illegal
acts, including fraud or defalcations that may exist. We will inform you the appropriate level
of the Authority of any mateial errors,irregularities or illegal acts that come to our attention.
The term of this engagement shall be five (S)years from May 15, 2009, provided that
either party may terminate the agreement upon thirty(30)days written notice to the other. In
the event of termination BCRUA shall be liable for all undisputed fees owed for work
performed through the date of termination plus fees for work authorized after the date of
termination to assist with the transition to a new service provider.
We appreciate that you selected us as your certified public accountants, and we look
forward to a long and mutually beneficial association.
If the foregoing is in agreement with your objectives, please sign the enclosed copy of
this letter in the space provided and return it to us.
Sincerely,
Pena Swayze&Co.,L.L.P.
Accepted By:
Date:
DATE: July 6, 2009
SUBJECT: BCRUA Board Meeting—July 8, 2009
ITEM: 8A. Consider a resolution authorizing the President to execute an Engagement
Agreement with Pena Swayze &Company, LLP for accounting services.
City Liaison: Cindy Demers,Assistant City Manager
City of Round Rock
Justification:
The BCRUA requires professional services to establish the accounting for and financial management
of the construction of the regional water system on behalf of the three cities. Services will include
accounting for all bond proceeds, construction contracts, payments to vendors and monthly and
annual reporting of all financial activity. Pena Swayze has provided this type of service for other
similar entities in the area and has previously served as external auditors for both the Cities of
Round Rock and Cedar Park. The term is up to a maximum 5 year period.
Funding:
The fees are based upon the amount of time required at the standard billing rates per hour.
Outside Resources: Pena Swayze & Company, LLP