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Cityof 7-----;---t---,--_-_---- . Sunny HsDes Beach _ ---r SCHEDULE OF PROPOSAL PRICES Part 1 Schedule of Professional Fees and Expenses for the Audit of September 30, 2016 • 2018 Financial Statements: Supporting Schedule for Audit Services (Financial Audit) Hours Proposed Proposed Hourly Rates Total l'. Partners 30 $276 $ 8,288 I. Managers 66 $195 $ 12,870 I Supervisory Staff 176 $117 $ 20,592 Staff 128 5111 $ 14,144 Other(Specify) - - ;: Subtotal 400 $ 55,894 Other Expenses None Total All-Inclusive Price for Audit Services Year 1 $ 55,894 Year 2 $ 57,570 Year 3 $ 59,297 Grand Total-Price-for Audit Services(3 Years) ,, $ 172,761 Grand Total Price for Audit Services (3 Years) Written This amount includes the fees for the financial audit, CAFR, Florida Single Audit and Federal Single Audit. The fee also includes the new procedures required in accordance with GASB Statement No. 68 for the City's participation in the Florida Retirement System. If the City is only subject to a Federal or Florida Single Audit, the total all-inclusive maximum fee would be $48,800 for FY 2016, $50,346 for FY 2017 and $51,857 for FY 2018. Note: 3% cost of living index was utilized to determine the rates for the fees associated with FY 2017 and 2018. Note: Any additional work agreed to between City of Sunny Isles Beach and Marcum shall be performed at the same rates set forth in the schedule of fees and expenses included in the dollar cost proposal for the corresponding fiscal year under audit. Note: Progress payments will be made on the basis of hours of work completed during the course of the engagement, in accordance with Marcum's dollar cost proposal. Interim billing shall cover a period of not less than a calendar month. n n Q❑C' Inn Proposal for Professional Auditing Services www.marcumllp.com ACCOUNTANTS • ADVISORS