FIFTH AMENDMENT
TO
CONSULTANT SERVICES AGREEMENT
This Fifth Amendment to Consultant Services Agreement (“Fifth Amendment”) is made and entered into as of June 20, 2023, by and between the City of Diamond Bar, a municipal corporation (“City”), and MV Cheng & Associates, Incorporated, (herein referred to as the “Consultant”) with reference to the following:
A. The City and the Consultant entered into that certain Consultant Services Agreement dated as of June 29, 2021, for temporary accounting and finance staffing services, which is incorporated herein by this reference (the “Original Agreement”); and B. The City and the Consultant entered into that certain First Amendment dated as of November 2, 2021, which is incorporated herein by this reference (“First Amendment”); and C. The City and Consultant entered into that certain Second Amendment dated as of March 1, 2022, which is incorporated herein by this reference (“Second Amendment”); and D. The City and Consultant entered into that certain Third Amendment dated July 1, 2022, which is incorporated herein by this reference (“Third Amendment”); and E. The City and Consultant entered into that certain Fourth Amendment dated December 20, 2022, which is incorporated herein by this reference (“Fourth Amendment”) which First, Second, Third and Fourth Amendments and Original Agreement collectively are referred to as the “Agreement”; and
F. The City and Consultant desire to further amend the Agreement as provided herein.
NOW, THEREFORE, the parties agree as follows:
1. Defined Terms. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings set forth for such terms in the Original Agreement
2. Term. The Term of the Original Agreement, as amended was from July 1, 2021, to June 30, 2023. The Fifth Amendment extends the Term from July 1, 2023 (“Effective Date”) up to and including January 31, 2024.
3. Revised Scope of Services. The Scope of Services, Exhibit “A” to the Second Amendment, is hereby amended to include a negotiated adjustment factor of 5% to the hourly rate charged for Accounting Manager services, thereby revising the hourly rate for Accounting Manager services to $89.25 as described in Exhibit “A” attached hereto and incorporated herein by this reference.
4. Compensation. The total not-to-exceed compensation set forth in Section 3 of the Original Agreement, as amended by the First Amendment, Second Amendment and Fourth Amendment is the sum of Two Hundred and Twenty-One Thousand Dollars
*NOTE:If Consultant is a corporation, the City requires the following signature(s):
-- (1) the Chairman of the Board, the President or a Vice-President, AND (2) the Secretary, the Chief Financial Officer, the Treasurer, an Assistant Secretary or an Assistant Treasurer. If only one corporate officer exists or one corporate officer holds more than one corporate office, please so indicate. OR
-- The corporate officer named in a corporate resolution as authorized to enter into this Agreement.
A copy of the corporate resolution, certified by the Secretary close in time to the execution of the Agreement, must be provided to the City.
EXHIBIT “A”
CONTRACTED ACCOUNTING MANAGER SCOPE OF WORK
July 1, 2023
Billing Rate: $89.25 per hour
General Ledger Accounting
The Contracted Accounting Manager (Contractor) will have primary responsibility to ensure the accounting records are properly maintained and kept up to date. This includes, but is not limited to, the following duties:
1. Reconciling subsidiary ledgers (e.g., payroll, accounts payable, cashiering) to the general ledger
2. Account analysis
3. Bank reconciliations
4. Identifying and resolving errors in transactional postings
5. Assist Finance Director with the mid-year and 3rd quarter budget review and analysis
6. Posting Council-approved budget amendments
7. Grant accounting and reporting
8. Perform required monthly/quarterly journal entries and closings:
• Interest Allocation
• Capital Project Revenue Allocation
• Engineering Deposit Overhead Allocation
• Interfund transfers
Project Accounting Ledger Maintenance
The City uses a Project Ledger System, which is part of the Munis System, to account for capital projects, engineering and planning developer deposits, and recreation programs and activities. Contractor will work with the City staff and implementation consultant to ensure the system is kept up to date and reconciled with the General Ledger and subsidiary ledgers.
Financial Accounting System (Tyler Munis) Support
Contractor will assist in addressing and resolving issues pertaining to the City’s financial management system (Munis). Users are still transitioning to the full use of Munis and periodically need assistance with processing transactions; Contractor will assist department users with support and guidance as needed. The City currently uses an outside consulting firm for ongoing assistance with financial system implementation, such as technical support to resolve problems, improve transaction processing, and provide training to City staff. Contractor will provide oversight of routine Munis tasks and service assistance currently provided by the implementation consultant.
Special Projects
As needed, Contractor will assist with special projects. Examples of special projects include:
1. Project ledger budget analysis and clean-up;
2. Capital Project carryover analysis and adjustments;
3. Importing and reconciling capital asset data from the old financial system (Pentamation) to Munis.
4. Reconciling and adjusting engineering deposits recorded in the General Ledger to the Project Ledger System and City’s land management/development database.
Year-End Closing and Audit
As needed, Contractor will lead the Finance Department’s efforts to complete all analysis and year-end adjustments in accordance with Generally Accepted Accounting Principles (GAAP), and will prepare schedules required of the City’s auditors in order to complete their audit.
In addition, Contractor will assist with the final closing of the fiscal year and roll-over of balances to the new fiscal year.
Financial Reporting
Contractor will ensure all reports to external agencies are completed accurately and in a timely basis. These reports include:
1. MTA Report
2. State Controllers Report/CDIAC Reports
3. Possessory Interest Report
4. Department of Treasury American Rescue Plan Act Report
5. Annual Streets Report
6. Annual SB1 Report
7. AB 939 Report
Training of New Staff
Contractor will train and provide support to Finance Department staff.