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Cleveland board approves LSCV CPAs engagement for monthly financial statements
Summary
The board approved a contract with LSCV CPAs for monthly financial statement preparation and compilation services for fiscal year ending June 30, 2027; the packet lists monthly fees and an estimated 4.8% overall increase.
The Cleveland Board of Aldermen approved a proposal from LSCV CPAs, PC, to prepare monthly financial statements and perform compilation engagements for the fiscal year ending June 30, 2027.
Mayor Roberson said a previous postponement to answer a question about the overall percentage increase had been resolved by email. Alderman Muller moved to approve the proposal and the board voted unanimously to accept LSCV's engagement.
The firm's engagement letter in meeting attachments describes services including preparation of monthly financial statements under the modified cash basis and quarterly payroll tax services. The document lists estimated fees of $1,050.00 per month for financial statement preparation and compilation, $295.00 per quarter for payroll tax preparation, a $300 minimum year-end W-2 fee and other service fees; the packet also shows a calculated "Percentage of Increase 4.80%." The firm states it will not audit or provide assurance and that management is responsible for records and internal controls.
Board members approved the engagement as submitted; the motion carried with four ayes and two members absent.
