9/13/1977 - Laserfiche WebLink

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i Accounts, Records, and Audit Reports Required: The County will be required to keep accounts and records on the operation of the facility separate and apart from other records in accordance with the bond ordinance. We suggest that the County's auditing firm develop a set of records for this particular purpose unless adequate records are already in use. The person responsible for maintaining such records of accounts will ` be selected prior to loan closing. It is imperative that the County establish and maintain adequate business management practices through a system of records,.reports and`'audits which will assist the governing body in making effective decisions and thus help to insure a successful operation. FmHA will.be furnished management reports as outlined in Appendix A of FmHA Instruction 1933-A, Paragraph 1933.17. A copy of this appendix is attached along with copies of our forms to be used for periodic and annual reports. Prior to loan closing the County will enter into a contract with a qualified auditor to conduct the annual audit. Requirements pertaining to audit reports are contained in a booklet, "FmiiA Instructions to Independent Certified Public Accountants and Licensed Public Accountants." Two copies of this booklet are attached. Please refer to page 10 of the booklet for an example of an auditor - borrower written agreement. FmHA will approve the County's accounting financial reporting system prior to loan closing or commencing construction whichever occurs first. All forms needed for required FmHA reports will be furnished by this office. Construction Contract Documents and Bidding:-= Appendix B of FmHA Instruction 1933-A and Contract Documents for Construc- tion of Federally assisted Water and Sewer Projects will be followed by the County and engineer for all construction. Two copies each of these documents are attached and one copy is to be delivered to your engineer and attorney. A pre -construction conference will be held after bid opening at a convenient time to be scheduled by FmHA. In attendance will be the designated repre- sentatives of the County, the consulting engineer, contractors' representatives > and FmHA personnel. - p ' ? Insurance and Bonding: Property insurance, fire and extended coverage and flood plain insurance, F' if applicable, will be required on all above -ground structures including equipment and machinery in an amount equal to the replacement value as e project engineer and approved b the FmHA. No insurance recommended b th g pP Y Y P ] will be required on water reservoirs, standpipes and elevated tanks. - i E tff d r iii[ } R�tK 31 FAJr 49 l r SEP �a� r+l