Resolution 2023-R-94 accounting services for the City  A Resolution authorizing execution ofan agreement with Sheppard Harris & Associates for  BE IT HEREBY RESOLVED by the City Council of the City of Irondale, Alabama, in regular meeting duly assembled, a quorum being present that Mayor James D. Stewart, Jr. or his designee is hereby authorized to execute an agreement for accounting services in substantially the form attached here to as Exhibit 1 with Sheppard Harris & Associates in an amount not to exceed  $40,000.00.  ADOPTED & APPROVED: This 5th day of September,2 2023.  David  APPROVED:    ALEA  ATTESTED:      Leigh Ann Allison, City Clerk  CERTIFICATION  I,Leigh Ann Allison, the City Clerk of the City of Irondale, Alabama, hereby certify that the above to be a true and correct copy ofai resolution adopted by the City Council ofthe City of Irondale at its regular meeting held on the 5th day of September, 2023, as the same appears in the  minutes of record ofs said meeting.  b  nn Allison, City Clerk    Exhibit 1    Sheppardi Harris & Associates 21424th Street North Birmingham, Alabama 35203 (205/)323-5922 (205)449-1223(fox) wwwsheppordhorks.com  SD  SHEPPARD HARRIS Certified Public Accountants  Mayor James Stewart City of Irondale 101 20th Street South Irondale, AL35210  RE: PROPOSAL FOR CONSULTING FINANCIAL SERVICES  Thank you for considering Sheppard Harris & Associates, CPA for financial management consulting services for The City ofIrondale. We appreciate the opportunity toj provide you with a detailed proposal outlining thes scope ofs services and associated fees. This proposal is based on our understanding oft the requirements as discussed during our initial  conversations. 1. OBJECTIVES  In this engagement, our primary objective is toj provide comprehensive financial management consulting services to support The City ofIrondale inj preparing for the year-end financial audit, optimizing its financial processes, and improving overall  financial management practices. The specific objectives oft this engagement are as follows:  Execute ther required task to prepare and review year-end closing entries, ensuring accuracy and completeness for Perform the necessary tasks toj prepare and review bank reconciliations accurately and effectively. Convert the financial statements from cash basis to accrual basis at year-end, ensuring accurate recognition of Provide a comprehensive follow-up on audit findings and address management letter comments.  the financial statements. revenues and expenses.  2. SCOPE OF SERVICES  Based on our understanding of your needs, the following services are included in our proposal:  Provide consulting services to assist in developing andi implementing an effective budgeting and financial planning process, ensuring fiscal stability and alignment with their goals and objectives. Conduct a comprehensive assessment oft the current financial systems, policies, and procedures inp place. Identify areas fori improvement, bottlenecks, andi inefficiencies within the financial processes. Assist in designing and implementing effective internal controls andj procedures to monitor and control expenditures, ensuring efficient resource utilization and mitigating the risk of fraud or misappropriation. Support the grant management department by offering guidance on proper tracking mechanisms, compliance with Offer guidance and support in ensuring compliance with applicable financial regulations, tax laws, and reporting Evaluate debt management strategies and compliance with debt covenants, to effectively manage and optimize  grant requirements, and documentation for reporting purposes.  requirements, including periodic reviews and proactive monitoring of regulatory changes.  municipal debt.    3.1 FEES AND ENGAGEMENT1 TERMS will be structured. as follows:  Our fees fort the financial services related to financial management consulting services for The City ofI Irondale will be based on the estimated time, complexity, and expertise required to deliver the scope ofservices outlined above. The fees  Hourly Rates: Our team members' hourly rates range from $150 to $300 per hour, depending on their level of Total Fee: The total fee for this engagement is estimated to range from $30,000 to $40,000. Please note that this isan estimate, and the final fee may be adjusted based on the actual time spent and any additional services  expertise andi involvement int the engagement. requested during the engagement.  4.ENGAGEMENT TERMS  Duration: The duration ofthis engagement will be based on the project timeline and specific deliverables. We anticipate the engagement to be 150 or less hours, subject to adjustments based on the complexity oft the engagement and the achievement  oft mutually agreed-upon: milestones.  Payment Terms: Our standard payment terms are as follows:  25% ofthe estimated total fee willl be due upon signing this proposal as an engagement retainer. The remaining balance willl bei invoiced monthly based on the actual time spent and expenses incurred during the engagement, with payment due within 30 days from the date oft the invoice. Confidentiality: We assure: you that alli information shared with us during the engagement will be treated with strict confidentiality, and we will take appropriate measures to safeguard your datai in accordance with applicable laws and  regulations.  Termination: Either party may terminate this engagement by providing written notice to the other party. In such cases, the client willl ber responsible for compensating the firm for the services rendered up to the termination date.  2    ACCEPTANCE  We believe that our financial services can provide valuable support to financial management consulting services for The City of Irondale. Ifyou agree with the scope of services and associated fees outlined in this proposal, please indicate your acceptance by signing below and returning a copy oft this proposal. Should you have any questions or require further  clarification, please do not hesitate to contact us.  Sincerely,  Ahuppand- Hania 4 Qaseubo Sheppard-Harris & Associates, PC Birmingham, Alabama  Accepted and agreed: The City Date: Signature  FAEL  3