COM 0799.000 2002-2004 - Laserfiche WebLink

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Mir w x~ JAMES Y. ARAKAKI,~~ Phone: (808) 961-8272 4 Chairman RPre.cidinR uffirer FAX: (808) 961-8912 4yoi'Hiyi n-, c , COUNTY COUNCIL Coun[y of Huwni'i 11amrat i County Ua(ldin,K - 15 zhq mvl Street 1111o, /hm,71796730 To: Council Members M From: James Y. Arakaki ` Council Chair s Date: October 4, 2004 Enclosed for your review and approval is a resolution to approve an amendment to the County's External Financial Audit Contract No. 02152 with KPMG LLP. The amendment is needed because of a change to the Department of Housing and Urban Development's rules regarding Section 8 housing. The regulations require that the financial information submitted to HUD under Section 8 must be submitted electronically and prepared in accordance with generally accepted principles. Therefore, our auditor's, KPMG, must perform the attestation by comparing hard copy audit report to the electronic information following audit procedures and principles. The expanded scope will require an additional 97 hours (approximate) to complete the attestation services for the Financial Assessment Electronic Submission to the U.S. Department of Housing and Urban Development Real Estate Assessment Center. The additional estimated cost to the contract would be $12,500 for each of the fiscal years ended June 30, 2004 and 2005, and will be paid by the Office of Housing and Community Development. The effect of the additional cost is reflected below: Fiscal Year: June 30, 2004 June 30, 2005 Contract Fees for Services: $138,000 $140,000 Additional Cost: 12,500 12,500 New Contract Fees for Services: $150,500 $152,500 Should you have any questions, please contact Constance Kirin, Legislative Auditor. Att. ~12w- 45r-Oy 7 Comm. No. • _ Ref. To: U Ref. Date _OCT 6