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Home My WebLink About9, Attachment 1 Truckee - Proposal for Single Audit(III) MOSSADAMS December 20, 2017 Board of Directors Truckee Donner Public Utility District 11570 Donner Pass Road Truckee, CA 96161 Dear Board: We are pleased to present this proposal to Truckee Donner Public Utility District (Truckee Donner PUD) for Single Audit services. We're excited about the opportunity to expand on the services we provide Truckee Donner PUD and have highlighted just some of our experience and qualifications below. ABOUT MOSS ADAMS Moss Adams is a fully integrated professional services firm dedicated to growing, managing, and protecting prosperity. We work with the world's most innovative, dynamic, and promising clients and markets. Through a full spectrum of accounting, consulting, and wealth management services, we bring the deep industry specialization and inspired thinking our mid -market clients seek. Moss Adams is one of the 15 largest US accounting and consulting firms and a founding member of Praxity, AISBL, a global alliance of independent accounting firms providing clients with local expertise in the major markets of North America, South America, Europe, and Asia. Our Utility Practice Our professionals provide accounting, tax, and consulting services for public power generation, transmission, and distribution markets; water; wastewater; and solid waste utilities. We have ongoing general audit services in Oregon, Washington, California, Alaska, Arizona, Colorado, Hawaii, Idaho, Kansas, Montana, and New Mexico, including cooperative organizations, municipal entities, public utility districts, mutual corporations, joint powers entities, and independent power producers. Our clients deal with many of the same issues, risks, opportunities, and constraints you do. We're experienced and familiar with the terrain you face, and this makes us more effective auditors and business advisors. Our utility practice professionals are well versed in the issues pertaining to large municipal utilities such as: SFAS 71 deferral accounting; environmental remediation liabilities; large construction projects of infrastructure and related issues, such as construction -in -progress accounting, classification and tracking, capitalized interest, application of overhead, and depreciation; and bond -related accounts such as arbitrage liability, debt defeasance and refundings, and covenant compliance. Virtually all of our large public utilities face similar issues. In addition to our core audit and tax services, our consulting practice offers IT, business feasibility, rate work, restructuring and workflow design, performance audits, and strategic planning. Our clients include public utility districts, regional utility planning associations, and cooperatives. Truckee Donner Public Utility District December 20, 2017 Single Audit Experience Moss Adams is an experienced firm in conducting federal compliance audits in accordance with the Single Audit Act and the audit provisions of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (federal compliance audit). According to the US Census Bureau's single audit database, as of 2016 we'd performed more than 3,100 such audits for our clients since 1997. The vast majority of these audits were conducted by the 180-plus members of our firmwide team serving governments, not -for -profits, and other related entities —which includes all of the members of the audit team who'd be serving you. A Firm Highly Experienced with Federal Compliance Audits The table below shows the number of federal compliance audits conducted by our firm since 1997 (the year the federal government began keeping records of these audits). This information can be found online at the Single Audit Database: https://harvester.census.gov/facweb. Fiscal Year 1997-2004 Single Audits Conducted 1,149 Total Federal Expenditures Audited $14.4 billion 2005 146 $2.7 billion 2006 154 $5.5 billion 2007 146 $5.7 billion 2008 148 $8.9 billion 2009 151 $9.5 billion 2010 168 $11.6 billion 2011 183 $12.2 billion 2012 183 $7.2 billion 2013 189 $6.7 billion 2014 185 $5.7 billion 2015 180 $5.0 billion 2016* 136 $3.9 billion (reported to date) 19-Year Total 3,118 $99.0 billion 'As ofApril25, 2017 Our professionals have conducted federal compliance audits for many types of organizations and program types including public utility districts. This makes them well suited to anticipate and solve potential problems and complete these audits in a timely manner. REPRESENTATIVE UTILITY CLIENTS Below is a sample of clients we work with in your industry that receive similar services. • American Samoa Power Authority 0 Eugene Water & Electric Board • Arizona Cooperatives 0 Klickitat Public Utility District • Central Electric Cooperative, Inc. 0 Kaua'i Island Utility Cooperative • City of Idaho Falls 0 TriMet • Emerald People's Utility District Moss Adams I Proposal for Truckee Donner Public Utility District 2 Truckee Donner Public Utility District December 20, 2017 YOUR SERVICE TEAM Working with the right team of professionals makes all the difference to your engagement. The team members we've thoughtfully selected to serve your specific needs have years of Utility experience. But more than that, you'll find they bring an optimistic perspective focused on helping Truckee Donner PUD explore and embrace emerging opportunity. Your Moss Adams team will personally engage with your team and bring a new level of energy and enterprise to your engagement. Julie Desimone, CPA Keith Simovic, CPA Partner Senior Manager Engagement Partner/Reviewer Engagement Senior Manager Julie is the leader of the firm's Utility Practice and has been providing auditing, accounting, and consulting services since 2000. She serves clients in the energy and utility industry, including enterprise funds of governments. Some of her specific areas of focus include: advanced utility accounting, regulatory assets and liabilities, technical auditing (including single audits), contracting, internal control evaluation, litigation support, and relationship management. FEES Keith has practiced public accounting since 2007. He provides assurance services to clients in the energy and utility, not -for - profit, government, forest products, manufacturing, distribution, and healthcare industries. Keith primarily works with utility companies and has significant experience in advanced utility accounting, derivatives, and power hedging. He is a regular presenter for Northwest Public Power Authority classes on subjects including utility accounting and utility budgeting. For our clients, it's about more than the dollars you pay at the end of the day; it's about value. Consider both the tangible and intangible benefits of working with us. You'll get solid and timely deliverables. But more than that, the experience you'll have working with forward -thinking, industry -specialized professionals who work side by side with you to explore new possibilities is where you'll see the value. Invest in your future prosperity and experience a different style of service with us. Single Audit $12,000 This proposal and fee arrangement are subject to the successful completion of our standard new client acceptance procedures. If we are awarded this engagement, we'll complete our procedures as quickly as possible. Assuming no significant matters come to our attention during our client acceptance process, we'll submit an engagement letter to Truckee Donner PUD following notification of your acceptance. Moss Adams I Proposal for Truckee Donner Public Utility District 3 Truckee Donner Public Utility District December 20, 2017 THE BEST CHOICE FOR TRUCKEE DONNER PUD Selecting an accounting firm is a difficult decision. Differences between firms can be hard to discern. We commit to continuing to make Truckee Donner PUD an extremely satisfied client of Moss Adams. Our personal promise to you is be sure you receive the best service Moss Adams is capable of providing. We welcome any questions you may have about this proposal and thank you for your consideration of Moss Adams. Sincerely, "'�-� Julie Desimone, CPA Partner (503)478-2101 julie.desimone@mossadams.com A04� C" Keith Simovic, A Senior Manager (503)478-2284 keith.simovic@mossadams.com Assurance, tax, and consulting offered through Moss Adams LLP. Investment advisory services offered through Moss Adams Wealth Advisors LLC. Investment banking offered through Moss Adams Capital LLC. Moss Adams I Proposal for Truckee Donner Public Utility District 4