THE ENVIRONMENTAL PROTECTION AND GROWTH MANAGEMENT DEPARTMENT AND THE HOUSING FINANCE AND COMMUNITY REDEVELOPMENT DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
On June 30, 2018, the Housing Finance Authority (the “HFA") board approved the Request for Letters of Interest (RLI) No. 20190630-AS3, to provide accounting services and annual financial statements for its Single-Family and Multi-Family Mortgage Revenue Bonds and operations accounting. The RLI was published in the Sun-Sentinel on June 27, 2018. One firm submitted a proposal in response to the RLI. The Office of Economic and Small Business Development has no Business Enterprise goal for the HFA accounting services solicitation.
On September 19, 2018, the Housing Finance Authority board approved the final ranking for RLI No 20190630-AS3 and selected Dufresne CPA Services, PA for a three-year term with the option to extend the agreement for two one-year extensions (the “Agreement”) at the Housing Finance Authority’s discretion. This Agreement will cover accounting services for the Housing Finance Authority from July 1, 2019 through June 30, 2022, and includes two optional one-year extensions years 2023 and 2024. The compensation for services includes the following: $36,900 annually for bond issue compilation services for 11 bond issues (payable quarterly), $68,950 annually for monthly bookkeeping services (payable monthly), including financial and investment committee reports, and annual general fund operations services (payable monthly for months of September through March). Total annual fees shall be in the amount of $105,850, excluding fees for additional services or additional bond issues, if any. Additional services, if any, are to be billed hourly as may be mutually agreed to between the two parties. Additional bond issue compilations are payable pursuant to the rates set forth in the Agreement.
At its December 19, 2018 board meeting, the Housing Finance Authority approved Resolution 2018-027 (Exhibit 2) authorizing execution of an Agreement with Dufresne CPA Services, PA to provide accounting services related to the monthly and annual financial statements for its Single Family and Multi-Family Mortgage Revenue Bonds and the Housing Finance Authority’s operations accounting. The Resolution was approved as to form by the Office of the County Attorney.
Adoption of this Resolution authorizes the HFA to enter into an Agreement with Dufresne CPA Services, PA to provide to provide accounting services related to the monthly and annual financial statements for its Single Family and Multi-Family Mortgage Revenue Bonds and the Housing Finance Authority’s operations accounting.
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