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05-11-20 City Council Agenda Packet - Work Session
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05-11-20 City Council Agenda Packet - Work Session
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Agenda Packet
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Work Session
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5/11/2020
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INDEPENDENT ACCOUNTANT’S REPORT <br />ON APPLYING AGREED-UPON PROCEDURES <br />To Sarah Medary, City Manager Pro Term <br />City of Eugene <br />Eugene, Oregon <br />We have performed the procedures enumerated below, which were agreed to by the City of Eugene (“City”), <br />solely to assist you in connection with the determination of whether expenditure of the 2017 general <br />obligation bond funds approved for issuance through voter’s approval of Ballot Measure 20-275 were <br />expended in accordance with the purposes and limitations outlined in City Council Resolution No. 5204; <br />namely that such expenditures were: a) used only for costs related to street preservation projects, fund <br />bicycle and pedestrian projects and payment of bond issuance costs and not to expand the motor vehicle <br />capacity of the street system; and, b) limited to projects included in Exhibit A to the Resolution unless upon <br />completion of all of the projects listed in Exhibit A the Council adds other street preservation projects to the <br />list in order to utilize unspent bond proceeds. Management is responsible for the accounting records <br />pertaining to the use of the bond proceeds. This agreed-upon procedures engagement was conducted in <br />accordance with attestation standards established by the American Institute of Certified Public Accountants. <br />The sufficiency of these procedures is solely the responsibility of those parties specified in this report. <br />Consequently, we make no representation regarding the sufficiency of the procedures described below <br />either for the purpose for which this report has been requested or for any other purpose. <br />The City provided the following documents and information in connection with our agreed-upon procedures <br />testing: <br />An Excel spreadsheet detailing all charges allocated and/or invoices received by the City for <br />expenditures related to the use of the bond proceeds; <br />Copies of Resolution No. 5204 and Ballot Measure 20-275; <br />Copies of bids and contracts issued by the City for any projects to be completed using the bond <br />proceeds; <br />Copies of supporting documentation including, but not limited to, invoices, cancelled checks, payroll <br />records, certifications of payments and bank statements; and <br />Copies of the City’s general ledger detail for the bond fund accounts. <br />The procedures we performed and the related findings are as follows: <br />(1)Expenditure testing. From January 1, 2019 through December 31, 2019, total expenditures for the <br />projects funded by the 2017 bond proceeds were $8,355,736 per the City’s general ledger. We tested <br />$4,660,201 or 55.77% of those expenditures. All tested expenditures were supported by appropriate <br />documentation such as vendor invoices, certifications of payment, payroll records, signed contracts, <br />and/or photographs of the work in progress. All tested expenditures were recorded in the proper <br />account, fund and period and were spent on street projects included in Exhibit A of City Council <br />Resolution No. 5204 or other street preservation projects approved by City Council, as permitted under <br />Resolution 5204. No exceptions were noted. <br /> <br />
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