OFFICE OF THE AUDITOR

Size: px
Start display at page:

Download "OFFICE OF THE AUDITOR"

Transcription

1 OFFICE OF THE AUDITOR PARKS AND RECREATION WELLSHIRE GOLF COURSE REVENUE AND CONTRACT COMPLIANCE AUDIT SEPTEMBER 2007 Dennis J. Gallagher Auditor

2 Dennis J. Gallagher Auditor City and County of Denver 201 West Colfax Ave., Dept. 705 Denver, Colorado , FAX September 18, 2007 Ms. Kim Bailey, Manager Department of Parks and Recreation City and County of Denver Mr. Howard Torgrove, Co-Manager Wellshire LLC 3333 South Colorado Blvd. Denver, CO Dear Ms. Bailey and Mr. Torgrove: Attached is the Auditor s Office Internal Audit Division s revenue and contract compliance audit report of the Wellshire LLC concession agreement dated January 1, The audit was for the period January 1, 2003 through December 31, The purpose of the audit was to determine whether Wellshire LLC and the City and County of Denver complied with the terms of the contract and whether internal controls in place were adequate. The audit revealed that Wellshire failed to meet capital improvement contractual obligations, as disclosed within the accompanying report. If you have any questions, please contact Kip Memmott, Director of Internal Audit, at Sincerely, DJG/kh Dennis J. Gallagher Auditor cc: Honorable John W. Hickenlooper, Mayor Honorable Members of City Council Members of Audit Committee Arlene Dykstra, Acting City Attorney Lauri Dannemiller, City Council Staff Director Beth Machann, Controller Kelly Brough, Chief of Staff Chris Henderson, Chief Operating Officer Claude Pumilia, Chief Financial Officer The prudent stewardship of Denver s finances, resources and financial records! We are also committed to improving accountability, efficiency, effectiveness and performance in city government. We will scrupulously protect the taxpayer s interests and work collaboratively with all concerned to improve our city and its government 1

3 TABLE OF CONTENTS Transmittal Letter 1 Table of Contents 2 Internal Auditor s Report 3 Executive Summary 4 Background, Scope, Objective, and Methodology 5 Findings, Recommendations, and Responses 7 Schedule of Amounts Due and Paid and Related Notes 9 2

4 Dennis J. Gallagher Auditor City and County of Denver 201 West Colfax Ave., Dept. 705 Denver, Colorado , FAX INTERNAL AUDITOR S REPORT We have completed a revenue and contract compliance audit of the concession agreement dated January 1, 1976 between Wellshire LLC (Wellshire) and the City and County of Denver (City). The purpose of the audit was to determine whether Wellshire and the Department of Parks and Recreation (Department) complied with various terms and conditions of the contract, City rules and regulations, and whether internal controls were adequate. This audit was included in the Auditor s Office Internal Audit Division s 2006 Annual Audit Plan and is authorized pursuant to the City and County of Denver Charter, Article V, Part 2, Section 1, General Powers and Duties of the Auditor. We conducted our audit in accordance with generally accepted government auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance that Wellshire and the Department complied with the terms of the concession agreement. An audit includes examining, on a test basis, evidence supporting compliance with the concession agreement and the accounting and administrative internal controls in place. The audit revealed that Wellshire has not complied with a concession agreement provision requiring capital improvements. We also found Parks and Recreation has not enforced the Concessionaire s compliance with the same contract provision related to capital improvements as of the date of this report. We extend our appreciation to the personnel who assisted and cooperated with us during the audit. Internal Audit Division Date: September 18, 2007 Kip Memmott Director of Internal Audit Staff: Dick Wibbens, CPA, Audit Manager Philip Cummings, CPA, CFE, Audit Supervisor Mike Widner, Lead Auditor Manijeh Taherynia, CPA, Staff Auditor The prudent stewardship of Denver s finances, resources and financial records! We are also committed to improving accountability, efficiency, effectiveness and performance in city government. We will scrupulously protect the taxpayer s interests and work collaboratively with all concerned to improve our city and its government. 3

5 EXECUTIVE SUMMARY FOR THE PERIOD JANUARY 1, 2003 THROUGH DECEMBER 31, 2005 This summary highlights the revenue and contract compliance audit findings, which are more fully described in the Findings, Recommendations, and Responses section beginning on page 7. The Findings, Recommendations, and Responses section also includes the responses of Wellshire LLC and the Department of Parks and Recreation to our findings. 1. Wellshire LLC Has Not Completed Required Capital Improvements Audit work determined that the Concessionaire did not initiate or complete $1,250,000 in capital improvements as required under Section IX, Concessionaire Improvements as of the date of this report. The required due date for completion was May 31, Contract Monitoring PARKS AND RECREATION Parks and Recreation failed to effectively monitor and enforce the contract provisions related to $1,250,000 in capital improvements as required by the Concession Agreement. Also, Parks and Recreation has not submitted a contract amendment to City Council which extends the date for completion to December 31,

6 BACKGROUND, SCOPE, OBJECTIVE, AND METHODOLOGY FOR THE PERIOD JANUARY 1, 2003 THROUGH DECEMBER 31, 2005 Background Wellshire LLC (Wellshire) entered into a concession agreement with the City and County of Denver. The contract began January 1, 1976 and ends May 31, The contract contains two 5-year options to extend the Concession Agreement (the first option through May 31, 2022 and the second option through May 31, 2027). In the case of full compliance with all terms of the contract, these options may be exercised at the discretion of the Concessionaire. In accordance with the license agreement, the Concessionaire has the exclusive right to operate a restaurant to provide food and beverage service at Wellshire Golf Course. Wellshire is required to pay the City the Annual Compensation according to the following schedule: June 1, May 31, 2004 = $25,000 June 1, May 31, 2005 = $25,000 June 1, May 31, 2006 = $50,000 June 1, May 31, 2007 = $50,000 June 1, May 31, 2008 = $75,000 June 1, May 31, 2017 = $100,000 June 1, May 31, 2022 = $100,000 + cumulative Consumer Price Index (CPI) for (Maximum = 60%) June 1, May 31, 2027 = Annual rental rate of cumulative CPI for (Maximum = 30%) The annual payments shall be due and payable in equal monthly installments on the first day of each month during the term of the Agreement. At the discretion of the Manager of Parks and Recreation, capital improvements that are approved in advance may be accepted in lieu of rental payments. According to Paragraph C.28 of Terms and Conditions, the City agrees to either reimburse Wellshire monthly by the 10 th day of the ensuing month(s) for interior utilities, water, and sewer for the Pro Shop Area, or the Concessionaire may deduct the amount from the next monthly installment of Annual Compensation and submit the bill according to the formula stipulated in the contract. Scope Our audit of the golf course concessionaire contract (PeopleSoft fund/org / ) was for the period January 1, 2003 through December 31, The scope of the audit focused on 5

7 BACKGROUND, SCOPE, OBJECTIVE, AND METHODOLOGY FOR THE PERIOD JANUARY 1, 2003 THROUGH DECEMBER 31, 2005 payments of annual compensation as well as compliance with insurance, and other contract requirements. Objective The objective of our audit was to determine whether Wellshire properly paid Parks and Recreation the correct amounts for compensation fees in accordance with the contract provisions. Additional objectives included determining whether Wellshire and Parks and Recreation complied with other terms and conditions of the contract and City rules and regulations necessary in the circumstances. Methodology To meet the audit objectives the following evidence gathering and analysis techniques included, but were not limited to: Verification of monthly installments of annual compensation paid Determination of timeliness of payments Verification of utility cost deductions Discussions with management and staff Verification of evidence of insurance and performance bonds Review of required capital improvements 6

8 FINDINGS, RECOMMENDATIONS, AND RESPONSES FOR THE PERIOD JANUARY 1, 2003 THROUGH DECEMBER 31, Wellshire LLC Has Not Completed Required Capital Improvements Our audit found that the Concessionaire has not initiated or completed any capital improvements as required under Section IX, Concessionaire Improvements as of the date of this report. This section states, From January 1, 2003 through May 31, 2007, Concessionaire shall have expended and/or will expend not less than $1,250,000 in aggregate for Concessionaire Improvements including but not limited to purchase, repairs or replacements for or of furniture, fixtures, trade fixtures or equipment, in regard to which no City approval is necessary. Parks and Recreation states there have been no capital improvements performed by the Concessionaire as of this date. It is unlikely the concessionaire will complete substantial capital improvements, if any, by the May 31, 2007 contract deadline date. Wellshire LLC s Response Wellshire LLC chose not to respond to this audit finding. 1. Contract Monitoring PARKS AND RECREATION Parks and Recreation failed to effectively monitor and enforce the contract provisions related to the Concessionaire starting and completing $1,250,000 in capital improvements as required in the contract. During the course of our audit, Parks and Recreation stated a contract amendment would be processed by certain dates. However, as of the date of this report, the Concessionaire and Parks and Recreation have not submitted a contract amendment to City Council. Recommendation Based upon our audit examination, we conclude the Concessionaire will not be in compliance with the provisions under Section IX stated above by May 31, Section 15.a.8 Termination By City of the concession license, Terms and Conditions, allows the City to terminate the concession license if the Concessionaire shall fail to complete the authorized Concessionaire Improvements within the time limits provided herein after required notice and opportunity to resolve. Therefore, we recommend Parks and Recreation give notice to the Concessionaire of intent to terminate contract if the required capital improvements are not completed by May 31, 2007 or if there is no written amendment to this contract providing the Concessionaire with the opportunity to resolve this issue of non-compliance. If the Concessionaire fails to complete the capital 7

9 FINDINGS, RECOMMENDATIONS, AND RESPONSES improvements or does not resolve to comply with the intent of this provision, we recommend Parks and Recreation terminate the Concession License in an expedient manner. Parks and Recreation s Response We disagree with this finding. Parks and Recreation has been aware of the upcoming Capital Improvement deadline and have been in negotiations with Wellshire LLC to amend the Concession License in a number of aspects including capital improvements. In all likelihood, that dollar amount of capital improvements will increase significantly and an extension of time will be granted for the Concessionaire to perform these improvements. We expect to have negotiations complete within the next few weeks and the amendment processed close to the current deadline for capital improvement completion. Auditor s Rebuttal The contract due date of May 31, 2007 for Wellshire LLC to complete the required capital improvements has passed and Parks and Recreation has not processed an amendment to the contract. In response to our request for a current status, Parks and Recreation produced an undated letter from the Manager of Parks and Recreation to Wellshire LLC which extended the due date for capital improvements to December 31, The contract does not have a provision which allows the Manager of Parks and Recreation to amend the capital improvements requirement by letter. We requested the underlying authority for this action and the City Attorney, acting on behalf of the Manager, stated the Mayor, through his department managers, is in charge of the enforcement of contracts and the Parks Manager has authority under the Charter over concession licenses. The City Attorney cited Charter sections related to the Mayor s authority and 2.4.4(C) with respect to the Manager. The City Attorney concludes these powers carry implied authority to temporarily forbear on the enforcement of a contract provision when the executive determines it is in the best interest of the City and the fair and reasonable response to circumstances. We disagree with the fact this provision was extended by an undated letter from the Manager of Parks and Recreation and the reliance on implied authority as stated by the City Attorney. The capital improvements requirement is a significant financial commitment to the City which has not been fulfilled by the concessionaire within a specific and reasonable time frame of five years. We believe City Council has defined authority in Charter section 3.2.6(G) for approving contracts and even more specific authority in Executive Order No. 8 Contracts and Other Written Instruments. Executive Order No. 8 Memorandum A defines an amendment as a separate contract or agreement that revises an existing contract or agreement and requires the same approval process by City Council as the original contract. Section VI A. Amendments specifically states an amendment is required whenever provisions of the contract need to be changed and verbal instructions or written correspondence may not be considered as amendments to the contract. 8

10 FINDINGS, RECOMMENDATIONS, AND RESPONSES We believe and recommend the City s best interest would be better served by Parks and Recreation complying with the provisions cited in the Charter and Executive Order No. 8 and submitting a contract amendment to City Council. The amendment should provide full disclosure as to why Wellshire LLC has not initiated required capital improvements over the past five years and why an extension for doing so is necessary and in the best interest of the City. 9

11 SCHEDULE OF AMOUNTS DUE AND PAID FOR THE PERIOD JANUARY 1, 2003 THROUGH DECEMBER 31, 2005 Amounts Due Amounts Paid Revenue Category Note (1) Note (2) Difference 2003 Annual Compensation $25,000 $25,000 $ - Credit for Utility per Contract (2,701) (2,701) - Total $22,299 $22,299 $ Annual Compensation $25,000 $25,000 $ - Credit for Utility per Contract (8,421) (8,421) - Total $16,579 $16,579 $ Annual Compensation $39,583 $39,583 $ - Credit for Utility per Contract (10,057) (10,057) - Total $29,526 $29,526 $ - The accompanying notes are an integral part of this schedule. 10

12 NOTES TO SCHEDULE OF AMOUNTS DUE AND PAID 1. Amounts Due A. Annual Compensation the Concessionaire shall pay the City annual compensation as scheduled in Section VII of the Concession Agreement. For our audit period, the compensation amount for each of the calendar years 2003 and 2004 was $25,000 and for 2005 was determined to be $39,583. B. Credits for Utility The contract states the Concessionaire is entitled to a credit against monthly installments of Annual Compensation for the utility costs paid for the Pro Shop Area. 2. Amounts Paid Amounts paid include those billed and/or due during the audit period and collected in the ordinary course of business whether or not within the audit period. 11

OFFICE OF THE AUDITOR

OFFICE OF THE AUDITOR OFFICE OF THE AUDITOR DEPARTMENT OF AVIATION VANGUARD CAR RENTAL USA, INC. REVENUE AND CONTRACT COMPLIANCE AUDIT DECEMBER 2006 Dennis J. Gallagher Auditor City and County of Denver 201 West Colfax Ave.,

More information

OFFICE OF THE AUDITOR

OFFICE OF THE AUDITOR OFFICE OF THE AUDITOR DEPARTMENT OF AVIATION REVENUE AND CONTRACT COMPLIANCE AUDIT JULY 2008 Dennis J. Gallagher Auditor Dennis J. Gallagher Auditor City and County of Denver 201 West Colfax Ave., Dept.

More information

OFFICE OF THE CITY AUDITOR

OFFICE OF THE CITY AUDITOR OFFICE OF THE CITY AUDITOR Paul T. Garner Assistant City Auditor Prepared by: Theresa A. Hampden, CPA Audit Manager James Ryan Auditor June 23, 2006 Memorandum June 23, 2006 CITY OF DALLAS Honorable Mayor

More information

OFFICE OF THE CITY AUDITOR

OFFICE OF THE CITY AUDITOR OFFICE OF THE CITY AUDITOR AUDIT OF AVIATION CONCESSION OPERATIONS Thomas M. Taylor, CPA City Auditor Prepared by: Terry Milrany, CPA Senior Audit Manager Joe R. Saucedo Jr., CPA, CFE Audit Manager Jeffrey

More information

CORPORATION TO DEVELOP COMMUNITIES OF TAMPA, INC. AUDIT MAY 3, 2016

CORPORATION TO DEVELOP COMMUNITIES OF TAMPA, INC. AUDIT MAY 3, 2016 CORPORATION TO DEVELOP COMMUNITIES OF TAMPA, INC. AUDIT 13-03 MAY 3, 2016 CITY OF TAMPA Bob Buckhorn, Mayor Internal Audit Department Christine Glover, Internal Audit Director May 3, 2016 Honorable Bob

More information

Audit Follow-Up. Audit of City Lease Administration (Report #0917, Issued July 22, 2009) Report #1019 June 16, As of March 31, 2010.

Audit Follow-Up. Audit of City Lease Administration (Report #0917, Issued July 22, 2009) Report #1019 June 16, As of March 31, 2010. Audit Follow-Up As of March 31, 2010 Sam M. McCall, Ph.D., CPA, CGFM, CIA, CGAP City Auditor Audit of City Lease Administration (Report #0917, Issued July 22, 2009) Report #1019 June 16, 2010 Summary Sixteen

More information

August 8, Re: Audit of Grove Harbour Marina for the period January 1, 2009 through December 31, 2013 Audit No

August 8, Re: Audit of Grove Harbour Marina for the period January 1, 2009 through December 31, 2013 Audit No THEODORE P. GUBA, CPA, CIA, CFE INDEPENDENT AUDITOR GENERAL Telephone (305) 416-2044 E-Mail: tguba@miamigov.com August 8, 2014 Honorable Members of the City Commission City of Miami 3500 Pan American Drive

More information

Broadstone Asset Management, LLC

Broadstone Asset Management, LLC Broadstone Asset Management, LLC 800 Clinton Square Rochester, NY 14604 Phone: 585-287-6500 www.broadstone.com Firm CRD#: 281847 Date: March 29, 2018 This brochure provides information about the qualifications

More information

Auditor General s Office

Auditor General s Office Auditor General s Office Parks, Forestry and Recreation Division - Concession Agreements Review Transmittal Report Audit Report Management s Response Jeffrey Griffiths, C.A., C.F.E Auditor General, City

More information

Maryland Agricultural Land Preservation Fund

Maryland Agricultural Land Preservation Fund Audit Report Maryland Agricultural Land Preservation Fund Fiscal Year Ended June 30, 2006 OFFICE OF LEGISLATIVE AUDITS DEPARTMENT OF LEGISLATIVE SERVICES MARYLAND GENERAL ASSEMBLY This report and any related

More information

Internal Audit Department

Internal Audit Department O C B o a r d o f S u p e r v i s o r s 1 st District Janet Nguyen 2 nd District John M.W. Moorlach 3 rd District Todd Spitzer 4 th District Shawn Nelson, Chairman 5 th District Patricia C. Bates-Vice

More information

Office of the City Auditor. Audit Report

Office of the City Auditor. Audit Report CITY OF DALLAS Dallas City Council Mayor Laura Miller Office of the City Auditor Audit Report Mayor Pro Tem Donald W. Hill Deputy Mayor Pro Tem Dr. Elba Garcia Audit of the Dallas Central Appraisal District

More information

LOUISIANA HOUSING CORPORATION QUALIFIED CONTRACT PROCESSING GUIDELINES

LOUISIANA HOUSING CORPORATION QUALIFIED CONTRACT PROCESSING GUIDELINES LOUISIANA HOUSING CORPORATION QUALIFIED CONTRACT PROCESSING GUIDELINES The Louisiana Housing Corporation (the LHC ) is successor in interest to the Louisiana Housing Finance Agency (the LHFA ) and is now

More information

Qualified Contract Process

Qualified Contract Process Qualified Contract Process Summary The Omnibus Budget Reconciliation Act of 1989 required that all properties receiving an allocation of Housing Credit after December 31, 1989 are subject to an "extended

More information

Internal Audit Department

Internal Audit Department O C B o a r d o f S u p e r v i s o r s 1 st District Janet Nguyen 2 nd District - John M.W. Moorlach 3 rd District Todd Spitzer 4 th District Shawn Nelson, Chairman 5 th District - Patricia C. Bates,

More information

FPP Committee Meeting Proposed COA Changes. June 8, 2018

FPP Committee Meeting Proposed COA Changes. June 8, 2018 FPP Committee Meeting Proposed COA Changes June 8, 2018 Agenda Visit various GASB Statements COA changes needed GASB #84 Fiduciary Activities Statement No. 84 Fiduciary Activities How many currently report

More information

(A) The date specified by the low-income housing credit agency (Agency) in the commitment; or

(A) The date specified by the low-income housing credit agency (Agency) in the commitment; or 1.42-18 Qualified contracts. (a) Extended low-income housing commitment (1) In general. No credit under section 42(a) is allowed by reason of section 42 with respect to any building for the taxable year

More information

July 12, Dear Mr. Bean:

July 12, Dear Mr. Bean: American Institute of CPAs 1455 Pennsylvania Avenue, NW Washington, DC 20004 Mr. David R. Bean Director of Research and Technical Activities Project No. 3 24E Governmental Accounting Standards Board 401

More information

Request for Proposals for Commercial Real Estate Brokerage Services Port Angeles, Washington. Issued June 6, 2016

Request for Proposals for Commercial Real Estate Brokerage Services Port Angeles, Washington. Issued June 6, 2016 Request for Proposals for Commercial Real Estate Brokerage Services Port Angeles, Washington Issued June 6, 2016 Proposal Due Date: June 13, 2016 RFP FOR PROPOSALS ( RFP ) COMMERCIAL REAL ESTATE BROKERAGE

More information

ATTACHMENT 4 SAMPLE AGREEMENT (for representation purposes only; to be modified as necessary)

ATTACHMENT 4 SAMPLE AGREEMENT (for representation purposes only; to be modified as necessary) ATTACHMENT 4 SAMPLE AGREEMENT (for representation purposes only; to be modified as necessary) MONTROSE REGIONAL AIRPORT RESTAURANT CONCESSIONAIRE LEASE AGREEMENT THIS LEASE AGREEMENT, by and between MONTROSE

More information

Vacancies at the Clinton Towers Mitchell-Lama Housing Development New York City Department of Housing Preservation and Development

Vacancies at the Clinton Towers Mitchell-Lama Housing Development New York City Department of Housing Preservation and Development New York State Office of the State Comptroller Thomas P. DiNapoli Division of State Government Accountability Vacancies at the Clinton Towers Mitchell-Lama Housing Development New York City Department

More information

GASB 87, Leases. Ali H. Hijazi, Senior Manager

GASB 87, Leases. Ali H. Hijazi, Senior Manager GASB 87, Leases Ali H. Hijazi, Senior Manager Agenda Timing Defining Our Terms Accounting and Disclosure Requirements Preparation Recommendations Examples 2 Timing Timing The requirements of this standard

More information

Determining whether an Arrangement contains a Lease

Determining whether an Arrangement contains a Lease IFRIC Interpretation 4 Determining whether an Arrangement contains a Lease This version includes amendments resulting from IFRSs issued up to 31 December 2010. IFRIC 4 Determining whether an Arrangement

More information

DGN III, INC. HUD PROJECT NO. 066-EE116-WAH FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION

DGN III, INC. HUD PROJECT NO. 066-EE116-WAH FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION Years Ended June 30, 2016 and 2015 C O N T E N T S Page Number REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS 1 FINANCIAL STATEMENTS Statements of

More information

Clerk of the Circuit Court Board of County Commissioners Marion County

Clerk of the Circuit Court Board of County Commissioners Marion County Clerk of the Circuit Court Board of County Commissioners Marion County Internal Audit Division David R. Ellspermann Clerk of the Circuit Court Post Office Box 1030, Ocala, Florida 34478-1030 elephone:

More information

Asset Acquisition and Disposal Procedures

Asset Acquisition and Disposal Procedures Asset Acquisition and Disposal Procedures Article 1 Objective The Asset Acquisition and Disposal Procedures (the Procedures) set forth herein serve as the guidelines for Walsin Lihwa (the Company) to acquire

More information

March 14, 2003 Report No. 570

March 14, 2003 Report No. 570 OFFICE OF THE COUNCIL AUDITOR Suite 200, St. James Building March 14, 2003 Report No. 570 Honorable Members of the City Council City of Jacksonville Members of the Board of Directors Jacksonville Airport

More information

Audit Follow-Up. Audit of City Lease Administration (Report #0917, Issued July 22, 2009) As of September 30, Summary

Audit Follow-Up. Audit of City Lease Administration (Report #0917, Issued July 22, 2009) As of September 30, Summary Audit Follow-Up As of September 30, 2009 Sam M. McCall, Ph.D., CPA, CGFM, CIA, CGAP City Auditor Audit of City Lease Administration (Report #0917, Issued July 22, 2009) Report #1011 February 19, 2010 Summary

More information

INTERNAL AUDITOR S REPORT

INTERNAL AUDITOR S REPORT INTERNAL AUDITOR S REPORT Office of the Public Defender November 16, 2006 Office of Robert E. Byrd, CGFM County Auditor-Controller 4080 Lemon Street P.O. Box 1326 Riverside, CA 92502-1326 November 16,

More information

BALLSTON PUBLIC PARKING GARAGE FUND (An Enterprise Fund of Arlington County, Virginia)

BALLSTON PUBLIC PARKING GARAGE FUND (An Enterprise Fund of Arlington County, Virginia) SCHEDULES OF NET CASH FLOW AND MCI AREA'S NET CASH FLOW AS DEFINED BY TIME SHARING AND LEASE AGREEMENTS FOR THE YEAR ENDED JUNE 30, 2018 ( WITH INDEPENDENT AUDITORS' REPORT THEREON ) Report of Independent

More information

Sri Lanka Accounting Standard LKAS 40. Investment Property

Sri Lanka Accounting Standard LKAS 40. Investment Property Sri Lanka Accounting Standard LKAS 40 Investment Property LKAS 40 CONTENTS SRI LANKA ACCOUNTING STANDARD LKAS 40 INVESTMENT PROPERTY paragraphs OBJECTIVE 1 SCOPE 2 DEFINITIONS 5 CLASSIFICATION OF PROPERTY

More information

HABITAT FOR HUMANITY OF THE MIDDLE KEYS, INC. Financial Statements. December 31, (With Independent Auditors Report Thereon)

HABITAT FOR HUMANITY OF THE MIDDLE KEYS, INC. Financial Statements. December 31, (With Independent Auditors Report Thereon) Financial Statements (With Independent Auditors Report Thereon) TABLE OF CONTENTS PAGE Independent Auditors Report 1-2 Financial Statements for the year ended Statement of Financial Position 3 Statement

More information

Determining whether an Arrangement contains a Lease

Determining whether an Arrangement contains a Lease Accounting Standards Interpretation (ASI) 3 Determining whether an Arrangement contains a Lease 1 CONTENTS ASI 3 DETERMINING WHETHER AN ARRANGEMENT CONTAINS A LEASE REFERENCES paragraphs BACKGROUND 1 3

More information

RE: Proposed Accounting Standards Update, Leases (Topic 842): Targeted Improvements (File Reference No )

RE: Proposed Accounting Standards Update, Leases (Topic 842): Targeted Improvements (File Reference No ) KPMG LLP Telephone +1 212 758 9700 345 Park Avenue Fax +1 212 758 9819 New York, N.Y. 10154-0102 Internet www.us.kpmg.com 401 Merritt 7 PO Box 5116 Norwalk, CT 06856-5116 RE: Proposed Accounting Standards

More information

ROCKFORD AREA HABITAT FOR HUMANITY, INC. FINANCIAL STATEMENTS and INDEPENDENT AUDITOR S REPORT. For the years ended June 30, 2014 and 2013

ROCKFORD AREA HABITAT FOR HUMANITY, INC. FINANCIAL STATEMENTS and INDEPENDENT AUDITOR S REPORT. For the years ended June 30, 2014 and 2013 FINANCIAL STATEMENTS and INDEPENDENT AUDITOR S REPORT For the years ended June 30, 2014 and 2013 TABLE OF CONTENTS Independent Auditor s Report 1 Statements of Financial Position 2 Statements of Activities

More information

REQUEST FOR PROPOSAL. SEEKING A MANAGEMENT AGENT for the CASA DE LOS ARCOS HOUSING PROJECT. RFP No

REQUEST FOR PROPOSAL. SEEKING A MANAGEMENT AGENT for the CASA DE LOS ARCOS HOUSING PROJECT. RFP No REQUEST FOR PROPOSAL SEEKING A MANAGEMENT AGENT for the CASA DE LOS ARCOS HOUSING PROJECT RFP No. 229-13-001 ARCHULETA COUNTY HOUSING AUTHORITY PAGOSA SPRINGS, CO Let Date: June 19, 2013 Response Deadline:

More information

GABB MILLION DOLLAR CLUB RULES AND REGULATIONS

GABB MILLION DOLLAR CLUB RULES AND REGULATIONS GABB MILLION DOLLAR CLUB RULES AND REGULATIONS THE GEORGIA ASSOCIATION OF BUSINESS BROKERS c/o Matt Slappey Murphy Business & Financial Corp of Decatur 1664 Colebrook Circle Suite 100 Decatur, Georgia

More information

HOUSING AUTHORITY OF THE CITY OF LAKE CHARLES

HOUSING AUTHORITY OF THE CITY OF LAKE CHARLES HOUSING AUTHORITY OF THE CITY OF LAKE CHARLES INVESTIGATIVE AUDIT ISSUED FEBRUARY 27, 2019 LOUISIANA LEGISLATIVE AUDITOR 1600 NORTH THIRD STREET POST OFFICE BOX 94397 BATON ROUGE, LOUISIANA 70804-9397

More information

GASBs Presented by: William Blend, CPA, CFE

GASBs Presented by: William Blend, CPA, CFE GASBs 87-89 Presented by: William Blend, CPA, CFE Leases: Statement 87 Effective Date and General Implementation Effective for Florida fiscal year end 2021. Earlier application is encouraged. Leases should

More information

DGN II, INC. HUD PROJECT NO. 066-EE108-WAH FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION

DGN II, INC. HUD PROJECT NO. 066-EE108-WAH FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION Years Ended June 30, 2016 and 2015 C O N T E N T S Page Number REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS 1 FINANCIAL STATEMENTS Statements of

More information

Hillwood Master Disposition & Development Agreement Audit - #809 Executive Summary

Hillwood Master Disposition & Development Agreement Audit - #809 Executive Summary Council Auditor s Office City of Jacksonville, Fl Hillwood Master Disposition & Development Agreement Audit - #809 Executive Summary Why CAO Did This Review Pursuant to Section 5.10 of the Charter of the

More information

NEWTOWN SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER

NEWTOWN SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER NEWTOWN SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 School Address: Mein Street, Newtown, Wellington School Postal Address: Mein Street, Newtown, WELLINGTON, 6021 School Phone: 04 389

More information

Financial Reports SOUTHGATE ACADEMY, INC. SINGLE AUDIT REPORTING PACKAGE YEAR ENDED JUNE 30, 2017

Financial Reports SOUTHGATE ACADEMY, INC. SINGLE AUDIT REPORTING PACKAGE YEAR ENDED JUNE 30, 2017 Financial Reports SINGLE AUDIT REPORTING PACKAGE YEAR ENDED JUNE 30, 2017 TABLE OF CONTENTS Independent Auditors' Report 1 FINANCIAL STATEMENTS Statements of Financial Position 4 Statements of Activities

More information

COUNTY OF MONTEREY AUDITOR-CONTROLLER DEPARTMENT INTERNAL AUDIT DIVISION NATIVIDAD MEDICAL CENTER MEDICAL OFFICE BUILDING REVIEW

COUNTY OF MONTEREY AUDITOR-CONTROLLER DEPARTMENT INTERNAL AUDIT DIVISION NATIVIDAD MEDICAL CENTER MEDICAL OFFICE BUILDING REVIEW COUNTY OF MONTEREY AUDITOR-CONTROLLER DEPARTMENT INTERNAL AUDIT DIVISION NATIVIDAD MEDICAL CENTER MEDICAL OFFICE BUILDING REVIEW County of Monterey Michael J. Miller Auditor-Controller Alfred Friedrich

More information

Re: Exposure Draft, Revenue from Contracts with Customers IASB Reference ED 2011/6

Re: Exposure Draft, Revenue from Contracts with Customers IASB Reference ED 2011/6 March 27, 2012 International Accounting Standards Board 30 Cannon Street, 1st Floor London EC4M 6XH United Kingdom Dear Sirs: Re: Exposure Draft, Revenue from Contracts with Customers IASB Reference ED

More information

Arlington County, Virginia. Internal Audit of the Real Estate Assessment Appeals Process Calendar Year Ended December 31, 2014

Arlington County, Virginia. Internal Audit of the Real Estate Assessment Appeals Process Calendar Year Ended December 31, 2014 Arlington County, Virginia Internal Audit of the Real Estate Assessment Appeals Process Calendar Year Ended December 31, 2014 Table of Contents Transmittal Letter... 1 Executive Summary... 2-9 Background...

More information

Ind AS 115 Impact on the real estate sector and construction companies

Ind AS 115 Impact on the real estate sector and construction companies 01 Ind AS 115 Impact on the real estate sector and construction companies This article aims to: Highlight key areas of impact of Ind AS 115 on the real estate sector and construction companies. Summary

More information

Summary of Pompano Pier Development Agreement Provisions for January 8, 2013 Commission Meeting

Summary of Pompano Pier Development Agreement Provisions for January 8, 2013 Commission Meeting Summary of Pompano Pier Development Agreement Provisions for January 8, 2013 Commission Meeting The City of Pompano Beach is entering into a Development Agreement with Pompano Pier Associates, LLC ( Developer

More information

PROPERTY MANAGEMENT AGREEMENT (Single-Unit)

PROPERTY MANAGEMENT AGREEMENT (Single-Unit) PROPERTY MANAGEMENT AGREEMENT (Single-Unit) Date: Brokerage Firm: Broker: Keller Williams Preferred Realty, LLC Kevin and Kerri Massey Landlord: Property: Reporting Date: No later than the 1 st day of

More information

AMENDED AND RESTATED MEMORANDUM OF UNDERSTANDING

AMENDED AND RESTATED MEMORANDUM OF UNDERSTANDING AMENDED AND RESTATED MEMORANDUM OF UNDERSTANDING THIS AMENDED AND RESTATED MEMORANDUM OF UNDERSTANDING (this Memorandum ) is made as of this day of, 2011, by and between the COUNTY OF FAIRFAX, VIRGINIA

More information

CITY OF PHILADELPHIA OFFICE OF THE CITY CONTROLLER Philadelphia, Pennsylvania LAW DEPARTMENT REVIEW OF CONTRACT COMPLIANCE PROCEDURES APRIL 2011

CITY OF PHILADELPHIA OFFICE OF THE CITY CONTROLLER Philadelphia, Pennsylvania LAW DEPARTMENT REVIEW OF CONTRACT COMPLIANCE PROCEDURES APRIL 2011 CITY OF PHILADELPHIA OFFICE OF THE CITY CONTROLLER Philadelphia, Pennsylvania LAW DEPARTMENT REVIEW OF CONTRACT COMPLIANCE PROCEDURES APRIL 2011 Ms. Shelley R. Smith, City Solicitor Law Department 17 th

More information

Technical Line SEC staff guidance

Technical Line SEC staff guidance No. 2013-20 Updated 27 August 2015 Technical Line SEC staff guidance How to apply S-X Rule 3-14 to real estate acquisitions In this issue: Overview... 1 Applicability of Rule 3-14... 2 Measuring significance...

More information

TECHNICAL INFORMATION PAPER - VALUATIONS OF REAL PROPERTY, PLANT & EQUIPMENT FOR USE IN AUSTRALIAN FINANCIAL REPORTS

TECHNICAL INFORMATION PAPER - VALUATIONS OF REAL PROPERTY, PLANT & EQUIPMENT FOR USE IN AUSTRALIAN FINANCIAL REPORTS TECHNICAL INFORMATION PAPER - VALUATIONS OF REAL PROPERTY, PLANT & EQUIPMENT FOR USE IN AUSTRALIAN FINANCIAL REPORTS Reference ANZVTIP 8 Valuations of Real Property, Plant & Equipment for Use in Australian

More information

WATERWORKS DISTRICT NO. 6 OF THE PARISH OF BEAUREGARD BEAUREGARD PARISH POLICE JURY STATE OF LOUISIANA

WATERWORKS DISTRICT NO. 6 OF THE PARISH OF BEAUREGARD BEAUREGARD PARISH POLICE JURY STATE OF LOUISIANA WATERWORKS DISTRICT NO. 6 OF THE PARISH OF BEAUREGARD BEAUREGARD PARISH POLICE JURY STATE OF LOUISIANA ANNUAL FINANCIAL STATEMENTS WITH INDEPENDENT AUDITOR'S REPORT DECEMBER3I, 2014 T able of Contents

More information

In December 2003 the Board issued a revised IAS 40 as part of its initial agenda of technical projects.

In December 2003 the Board issued a revised IAS 40 as part of its initial agenda of technical projects. IAS 40 Investment Property In April 2001 the International Accounting Standards Board (the Board) adopted IAS 40 Investment Property, which had originally been issued by the International Accounting Standards

More information

Fort Worth Independent School District. Professional Development and Appraisal System (PDAS)

Fort Worth Independent School District. Professional Development and Appraisal System (PDAS) Fort Worth Independent School District Professional Development and Appraisal System (PDAS) Procedures Manual 2015 2016 TABLE OF CONTENTS Commissioner's Rules 2-13 Appraisals at a Glance 14-15 Appraisal

More information

Direction for General Regulation Concerning Jointly Owned Properties. Chapter One Definitions and General Provisions

Direction for General Regulation Concerning Jointly Owned Properties. Chapter One Definitions and General Provisions Direction for General Regulation Concerning Jointly Owned Properties Chapter One Definitions and General Provisions Article (1) Terms used in the Law In these Regulations, the terms and expressions defined

More information

Report on Inspection of KBL, LLP (Headquartered in New York, New York) Public Company Accounting Oversight Board

Report on Inspection of KBL, LLP (Headquartered in New York, New York) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2014 (Headquartered in New York, New York) Issued by the Public Company Accounting

More information

KISD T-TESS APPRAISAL GUIDELINES School Year:

KISD T-TESS APPRAISAL GUIDELINES School Year: Page 1 of 11 I. General Provisions KISD T-TESS APPRAISAL GUIDELINES School Year: 2017-2018 A. Teachers shall be appraised through the use of the Texas Teacher Evaluation and Support System (T-TESS). B.

More information

Monroe County, Tennessee Property Tax Incentive Program Policies and Procedures

Monroe County, Tennessee Property Tax Incentive Program Policies and Procedures Monroe County, Tennessee Property Tax Incentive Program Policies and Procedures Revised 1/2010 MONROE COUNTY, TENNESSEE PROPERTY TAX INCENTIVE PROGRAM POLICIES AND PROCEDURES Section I General Purpose

More information

Audit of City Lease Administration

Audit of City Lease Administration July 22, 2009 Audit of City Lease Administration Sam M. McCall, Ph.D., CPA, CGFM, CIA, CGAP City Auditor HIGHLIGHTS Highlights of City Auditor Report #0917, a report to the City Commission and City management

More information

CITY OF IRVINE HOUSING SUCCESSOR ANNUAL REPORT FOR LOW AND MODERATE INCOME HOUSING ASSET FUND FOR FISCAL YEAR

CITY OF IRVINE HOUSING SUCCESSOR ANNUAL REPORT FOR LOW AND MODERATE INCOME HOUSING ASSET FUND FOR FISCAL YEAR CITY OF IRVINE HOUSING SUCCESSOR ANNUAL REPORT FOR LOW AND MODERATE INCOME HOUSING ASSET FUND FOR FISCAL YEAR 2013-2014 The City of Irvine Housing Successor Annual Report (Report) for the Low and Moderate

More information

KISD T-TESS APPRAISAL GUIDELINES

KISD T-TESS APPRAISAL GUIDELINES Page 1 of 11 KISD T-TESS APPRAISAL GUIDELINES School Year: 2018-2019 I. General Provisions A. Teachers shall be appraised through the use of the Texas Teacher Evaluation and Support System (T-TESS). B.

More information

Exposure Draft. Amendments to Ind AS 40, Investment Property. (Last date for the comments: July 11, 2018)

Exposure Draft. Amendments to Ind AS 40, Investment Property. (Last date for the comments: July 11, 2018) ED/ Ind AS/2018/07 Exposure Draft Amendments to Ind AS 40, Investment Property (Last date for the comments: July 11, 2018) Issued by Accounting Standards Board The Institute of Chartered Accountants of

More information

Topic 842 Technical Corrections Summary of Comments Received

Topic 842 Technical Corrections Summary of Comments Received Contact(s) David Hoyer Co-Author Ext. 462 Andy Bologna Co-Author Ext. 356 Thomas Faineteau Co-Author Ext. 362 Chris Roberge Co-Author Ext. 274 Amy Park Co-Author Ext. 476 Shayne Kuhaneck Assistant Director

More information

HABITAT FOR HUMANITY OF GREATER NEW HAVEN, INC. AND SUBSIDIARY Consolidated Financial Statements December 31, 2009

HABITAT FOR HUMANITY OF GREATER NEW HAVEN, INC. AND SUBSIDIARY Consolidated Financial Statements December 31, 2009 HABITAT FOR HUMANITY OF GREATER NEW HAVEN, INC. AND SUBSIDIARY Consolidated Financial Statements December 31, 2009 HABITAT FOR HUMANITY OF GREATER NEW HAVEN, INC. AND SUBSIDIARY CONSOLIDATED FINANCIAL

More information

Town of Aurora. Real Property Acquisition and Sale REPORT OF EXAMINATION 2018M-64 SEPTEMBER 2018

Town of Aurora. Real Property Acquisition and Sale REPORT OF EXAMINATION 2018M-64 SEPTEMBER 2018 DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY REPORT OF EXAMINATION 2018M-64 Town of Aurora Real Property Acquisition and Sale SEPTEMBER 2018 Contents Report Highlights.............................

More information

Report on Inspection of Ferlita, Walsh, Gonzalez & Rodriguez, P.A. (Headquartered in Tampa, Florida) Public Company Accounting Oversight Board

Report on Inspection of Ferlita, Walsh, Gonzalez & Rodriguez, P.A. (Headquartered in Tampa, Florida) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2017 Gonzalez & Rodriguez, P.A. (Headquartered in Tampa, Florida) Issued by the Public

More information

Water System Master Operating Agreement. for the. Marion, Howell, Oceola and Genoa. Sewer and Water Authority

Water System Master Operating Agreement. for the. Marion, Howell, Oceola and Genoa. Sewer and Water Authority Water System Master Operating Agreement for the Marion, Howell, Oceola and Genoa Sewer and Water Authority Dated as of February 1, 2011 TABLE OF CONTENTS Page ARTICLE I DEFINITIONS Section 1.1 Definitions...2

More information

An Audit Report on PROPERTY MANAGEMENT AND TENANT SERVICES. January 2019 Project #

An Audit Report on PROPERTY MANAGEMENT AND TENANT SERVICES. January 2019 Project # An Audit Report on PROPERTY MANAGEMENT AND TENANT SERVICES January 2019 Project # 20190201 Executive Summary Property Management provides management and tenant services for approximately 88 state agencies

More information

Final Audit Follow-Up

Final Audit Follow-Up Final Audit Follow-Up As of September 30, 2010 Sam M. McCall, Ph.D., CPA, CGFM, CIA, CGAP City Auditor Audit of City Lease Administration (Report #0917, Issued July 22, 2009) Report #1107 February 3, 2011

More information

Report of the Independent Auditor

Report of the Independent Auditor Independent auditor s report to the members of (Incorporated in Hong Kong with limited liability) Opinion We have audited the consolidated financial statements of ( the Company ) and its subsidiaries (

More information

28E AGREEMENT FOR SCHOOL RESOURCE OFFICER PROGRAM BETWEEN THE COLLEGE COMMUNITY SCHOOL DISTRICT AND THE CITY OF CEDAR RAPIDS

28E AGREEMENT FOR SCHOOL RESOURCE OFFICER PROGRAM BETWEEN THE COLLEGE COMMUNITY SCHOOL DISTRICT AND THE CITY OF CEDAR RAPIDS 28E AGREEMENT FOR SCHOOL RESOURCE OFFICER PROGRAM BETWEEN THE COLLEGE COMMUNITY SCHOOL DISTRICT AND THE CITY OF CEDAR RAPIDS THIS AGREEMENT, made and entered into this day of, 2014, by and between THE

More information

GREATER POMONA HOUSING DEVELOPMENT CORPORATION dba ACCESS VILLAGE HUD PROJECT NO. 122-EH175-WAH-LS FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION

GREATER POMONA HOUSING DEVELOPMENT CORPORATION dba ACCESS VILLAGE HUD PROJECT NO. 122-EH175-WAH-LS FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION GREATER POMONA HOUSING DEVELOPMENT CORPORATION HUD PROJECT NO. 122-EH175-WAH-LS FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION June 30, 2016 and 2015 TABLE OF CONTENTS INDEPENDENT AUDITORS' REPORT

More information

A. The purpose of this policy is to establish purchasing guidelines. This policy is applicable to all purchasing for the City of Moscow Mills.

A. The purpose of this policy is to establish purchasing guidelines. This policy is applicable to all purchasing for the City of Moscow Mills. Chapter 25 -- Expenditure of City Funds 25.010. Appropriations. In all cases where the City shall be indebted to any person, company, or corporation on any account, when the said account has been duly

More information

THE CO-OPERATIVES ACT GENERAL ADMINISTRATIVE REQUIREMENTS

THE CO-OPERATIVES ACT GENERAL ADMINISTRATIVE REQUIREMENTS Every co-operative shall: THE CO-OPERATIVES ACT GENERAL ADMINISTRATIVE REQUIREMENTS a) have a registered office within Saskatchewan Section 26; b) file a notice setting out the address of the registered

More information

Report on Inspection of Schneider Downs & Co., Inc. (Headquartered in Pittsburgh, Pennsylvania) Public Company Accounting Oversight Board

Report on Inspection of Schneider Downs & Co., Inc. (Headquartered in Pittsburgh, Pennsylvania) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2016 (Headquartered in Pittsburgh, Pennsylvania) Issued by the Public Company Accounting

More information

Orange County Auditor-Controller

Orange County Auditor-Controller Attachment H, Board Date 12/13/16, Page 1 of 14 Orange County Auditor-Controller Internal Audit OC Community Resources/OC Parks - Newport Dunes Partnership For the Period December 1, 2014 through November

More information

MEADOW PARK SENIOR HOUSING ASSOCIATION / MEADOW PARK SENIOR APARTMENTS HUD PROJECT NO. 127 EE021. Financial Statements and Single Audit Reports

MEADOW PARK SENIOR HOUSING ASSOCIATION / MEADOW PARK SENIOR APARTMENTS HUD PROJECT NO. 127 EE021. Financial Statements and Single Audit Reports MEADOW PARK SENIOR HOUSING ASSOCIATION / MEADOW PARK SENIOR APARTMENTS HUD PROJECT NO. 127 EE021 Financial Statements and Single Audit Reports Table of Contents Independent Auditor s Report 1 2 Financial

More information

July 30, Dear Ms. Payne:

July 30, Dear Ms. Payne: July 30, 2018 Ms. Wendy M. Payne Executive Director Federal Accounting Standards Advisory Board Mailstop 6H19 441 G Street, NW, Suite 6814 Washington, DC 20548 Dear Ms. Payne: On behalf of the Association

More information

August 8, 2017 AUDIT OF CITY AGREEMENTS WITH CASCADES HOLDINGS, LLC (THE EDISON)

August 8, 2017 AUDIT OF CITY AGREEMENTS WITH CASCADES HOLDINGS, LLC (THE EDISON) August 8, 2017 AUDIT OF CITY AGREEMENTS WITH CASCADES HOLDINGS, LLC (THE EDISON) T. Bert Fletcher, CPA, CGMA City Auditor HIGHLIGHTS Highlights of City Auditor Report #1716, a report to the City Commission

More information

2018 Accounting & Auditing Update P R E S E N T E D B Y : D A N I E L L E Z I M M E R M A N & A N D R E A S A R T I N

2018 Accounting & Auditing Update P R E S E N T E D B Y : D A N I E L L E Z I M M E R M A N & A N D R E A S A R T I N 2018 Accounting & Auditing Update P R E S E N T E D B Y : D A N I E L L E Z I M M E R M A N & A N D R E A S A R T I N AGENDA Leases FASB & GASB Revenue Recognition FASB 2 FASB ASU 2016-02, Leases (Topic

More information

SAN FRANCISCO WATER DEPARTMENT AND HETCH HETCHY WATER AND POWER. Statement of Changes in the Balancing Account. June 30, 2007

SAN FRANCISCO WATER DEPARTMENT AND HETCH HETCHY WATER AND POWER. Statement of Changes in the Balancing Account. June 30, 2007 SAN FRANCISCO WATER DEPARTMENT AND Statement of Changes in the Balancing Account (With Independent Auditors Report Thereon) kpmg Independent Auditors Report The City and County of San Francisco and the

More information

BRIDGE ATTAINABLE HOUSING SOCIETY

BRIDGE ATTAINABLE HOUSING SOCIETY BRIDGE ATTAINABLE HOUSING SOCIETY Financial Statements Index to the Financial Statements Page INDEPENDENT AUDITOR'S REPORT 1 FINANCIAL STATEMENTS Statement of Financial Position 2 Statement of Operations

More information

RESIDENTIAL PROPERTY DISCLOSURES

RESIDENTIAL PROPERTY DISCLOSURES Revision Dated: January 23, 2018 THE INFORMATION CONTAINED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER TO SELL, OR OFFERING MATERIALS PERTAINING TO THE MARKETING

More information

REQUEST FOR PROPOSALS (RFP) SECTION 8 CONTRACT ADMINISTRATION SERVICES

REQUEST FOR PROPOSALS (RFP) SECTION 8 CONTRACT ADMINISTRATION SERVICES REQUEST FOR PROPOSALS (RFP) 09-331 SECTION 8 CONTRACT ADMINISTRATION SERVICES FOR THE HOUSING AUTHORITY OF THE CITY OF WINSTON-SALEM WINSTON-SALEM, NORTH CAROLINA 1 TABLE OF CONTENTS 1. Introduction 2.

More information

2017 CIRCLE OF EXCELLENCE Membership Rules & Requirements

2017 CIRCLE OF EXCELLENCE Membership Rules & Requirements I. Definitions 1. "Qualifying Year" shall be defined as a full calendar year beginning January 1 through December 31, 2017. 2. "Membership Year" shall be for the full calendar year immediately following

More information

File Reference No Re: Proposed Accounting Standards Update, Leases (Topic 842): Targeted Improvements

File Reference No Re: Proposed Accounting Standards Update, Leases (Topic 842): Targeted Improvements Deloitte & Touche LLP 695 East Main Street Stamford, CT 06901-2141 Tel: + 1 203 708 4000 Fax: + 1 203 708 4797 www.deloitte.com Ms. Susan M. Cosper Technical Director Financial Accounting Standards Board

More information

Rent Stabilization, Vacancy Decontrol and Reinvestment in Rental Property in Berkeley, California

Rent Stabilization, Vacancy Decontrol and Reinvestment in Rental Property in Berkeley, California Rent Stabilization, Vacancy Decontrol and Reinvestment in Rental Property in Berkeley, California REVISED FINAL REPORT July 16, 2012 Jay Kelekian, Executive Director Stephen Barton, Ph.D., Project Manager

More information

In December 2003 the IASB issued a revised IAS 40 as part of its initial agenda of technical projects.

In December 2003 the IASB issued a revised IAS 40 as part of its initial agenda of technical projects. International Accounting Standard 40 Investment Property In April 2001 the International Accounting Standards Board (IASB) adopted IAS 40 Investment Property, which had originally been issued by the International

More information

RESOLUTION 5607 (10) NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lompoc as follows:

RESOLUTION 5607 (10) NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lompoc as follows: RESOLUTION 5607 (10) A Resolution of the Council of the City of Lompoc County of Santa Barbara, State of California, Approving County Of Santa Barbara Resolution Of Intention, Consenting To Participation

More information

Technical Line FASB final guidance

Technical Line FASB final guidance No. 2018-08 20 September 2018 Technical Line FASB final guidance How the new leases standard affects engineering and construction entities In this issue: Overview... 1 Key considerations... 2 Scope and

More information

Report on Inspection of Vogel CPAs, PC (Headquartered in Dallas, Texas) Public Company Accounting Oversight Board

Report on Inspection of Vogel CPAs, PC (Headquartered in Dallas, Texas) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2014 (Headquartered in Dallas, Texas) Issued by the Public Company Accounting Oversight

More information

Technical Line FASB final guidance

Technical Line FASB final guidance No. 2017-17 29 June 2017 Technical Line FASB final guidance How the new revenue standard affects operating real estate entities In this issue: Overview... 1 Real estate sales... 2 Property management services...

More information

SHELBY COUNTY APPRAISAL REVIEW BOARD POLICIES AND PROCEDURES

SHELBY COUNTY APPRAISAL REVIEW BOARD POLICIES AND PROCEDURES SHELBY COUNTY APPRAISAL REVIEW BOARD POLICIES AND PROCEDURES 2014 SHELBY COUNTY APPRAISAL REVIEW BOARD POLICIES AND PROCEDURES The Appraisal Review Board is responsible for the local administrative review

More information

Denver Affordable Housing Performance Audit

Denver Affordable Housing Performance Audit Denver Affordable Housing Performance Audit November 2014 Audit Services Division City and County of Denver Dennis J. Gallagher Auditor The Auditor of the City and County of Denver is independently elected

More information

Report on Inspection of Boyle CPA, LLC (Headquartered in Bayville, New Jersey) Public Company Accounting Oversight Board

Report on Inspection of Boyle CPA, LLC (Headquartered in Bayville, New Jersey) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2018 (Headquartered in Bayville, New Jersey) Issued by the Public Company Accounting

More information

IATA Industry Accounting Working Group Guidance IFRS 16, Leases

IATA Industry Accounting Working Group Guidance IFRS 16, Leases IATA Industry Accounting Working Group Guidance 1st Edition Issued February 2018 NOTICE DISCLAIMER. This document has been compiled by the IATA Industry Accounting Working Group (IAWG), which consists

More information

4/4/2018. GASB's New Leases Standard

4/4/2018. GASB's New Leases Standard GASB's New Leases Standard April 4, 2018 1 TO RECEIVE CPE CREDIT Participate in entire webinar Answer polls when they are provided If you are viewing this webinar in a group Complete group attendance form

More information

Internal Audit. Orange County Auditor-Controller. Revenue Generating Lease Audit OC Community Resources/OC Parks - Mile Square Golf Course (PR37A-152)

Internal Audit. Orange County Auditor-Controller. Revenue Generating Lease Audit OC Community Resources/OC Parks - Mile Square Golf Course (PR37A-152) Orange County Auditor-Controller Internal Audit OC Community Resources/OC Parks - Mile Square Golf Course (PR37A-152) For the Period January 1, 2016 through December 31, 2016 Audit Number 1637 Report Date:

More information