HomeMy WebLinkAboutCDCRes2014.11.01ANNA COMMUNITY DEVELOPMENT CORPORATION
RESOLUTION No. �OI- _l�'OI
A RESOLUTION OF THE ANNA COMMUNITY DEVELOPMENT CORPORATION
AUTHORIZING THE CHIEF ADMINISTRATIVE OFFICER TO ACT ON THE BOARD'S
BEHALF IN EXECTUING A REVISED CONTRACT FOR CONSULTING SERVICES
TO ASSIST WITH IRS FORM 990, AN ANNUAL AUDIT, AND ANNUAL 1099's
WHEREAS, the Anna Community Development Corporation (the "CDC") desires to
authorize their Chief Administrative Officer to procure the professional consulting
services of LaFollett and Company PLLC Certified Public Accounts for assistance with
completing and filing IRS Form 990 annually, conducting an annual audit, and
completing and filing 1099's annually; and
WHEREAS, the CDC has determined that the above -referenced services are in the best
interests of the CDC and the City of Anna; and
NOW THEREFORE, BE IT RESOLVED BY THE ANNA COMMUNITY
DEVELOPMENT CORPORATION, THAT:
Section 1. Recitals Incorporated
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
Section 2. Authority to Execute Consulting Services Agreement
The Board of Directors of the Anna Community Development Corporation authorizes
the Chief Administrative Officer to execute, on behalf of the CDC, and subject to
approval of the form and content by the CDC's legal counsel, a revised contract with
LaFollett and Abbott PLLC for professional tax services not to exceed $5000 annually
without further Board approval, said authority to include execution of all necessary
documents to consummate the business relationship with said consultant.
PASSED AND APPROVED by the Anna Community Development Corporation this
b1h day of �Wje, _ , 2014.
APPROVED:
I I .40%10cek
Jc6n Houcek, CDC President
ANNA CDC RESOLUTION NO.�'VM-11-01 C06) PAGE 1 OF 1
Susan La Follett, CPA— Partner
Rod Abbott, CPA — Partner
and Abbott PLLC
Certified Public Accountants
October 31, 2014
Jessica Perkins
Anna CDC
P.O. Box 776
Anna, TX 75409
RE: Engagement Letter for September 30, 2014 IRS Form 990 Return
Dear Jessica:
This letter is to confirm and specify the terms of our engagement with you and to clarify the nature and
extent of the services we will provide. In order to ensure an understanding of our mutual responsibilities,
we ask all clients for whom returns are prepared to confirm the following arrangements.
We will prepare the September 30, 2014 and future period Form 990 Return of Organization Exempt
From Income Tax return from information which you will furnish to us. We will not audit or otherwise
verify the data you submit, although it may be necessary to ask you for clarification of some of the
information.
It is your responsibility to provide all the information required for the preparation of complete and
accurate return. You should retain all documents, cancelled checks and other data that form the basis of
income and deductions. These may be necessary to prove the accuracy and completeness of the return to
a taxing authority. You represent to us that the information you are supplying to us is accurate and
complete to the best of your knowledge. We are not responsible for disallowed deductions, or the
inclusion of additional unreported income or any resulting taxes, penalties, or interest. You have the final
responsibility for the income tax return and, therefore, you should review them carefully before you sign
them.
Our work in connection with the preparation of your income tax return does not include any procedures
designed to discover defalcations and/or irregularities, should any exist. We will render such accounting
and bookkeeping assistance as determined to be necessary for preparation of the income tax return.
Your return may be selected for review by the taxing authorities. Any proposed adjustments by the
examining agent are subject to certain rights of appeal. In the event of such government tax
examinations, we will be available upon request to represent you and will render additional invoices for
the time and expenses incurred. These services are not included in our fee for preparation of your return.
You understand that, in the event of preparer error, you are responsible for additional tax and interest that
may be due, but our responsibility is to pay for any penalty that the IRS may asses.
LaFollett and Abbott PLLC
PO Box 717 • Tom Bean, TX • 75489
Your Form 990 tax return is due February 15, 2015. An extension may be made to May 15, 2015. An
extension request is for additional time to file the return, not for additional time to pay tax. If you would
like for us to prepare the extension request, please call, fax, or email us as noted below as soon as
possible.
We estimate our fees for these services to be $1,000 for the 2014 990 return and $25 if an extension is
required. Also, we will prepare payroll reports such as Quarterly 940, 941, and TWC reports and year
end info such as W-2's, 1099's, etc. These services will be billed at an hourly rate, except that we agree
that our gross fees, will not exceed $5,000. Under a separate engagement letter with the City of Anna, the
audit fee is estimated at $950. If significant additional time is necessary, we will discuss it with you and
arrive at a new fee estimate before we incur the additional costs. Our standard hourly rates are: CPA $150
to $195, Senior $135, Staff $85, and Admin $45.
We will bill Anna CDC as work is completed. Our invoices are due upon receipt.
If you have any questions about this, please call Susan LaFollett or Kim Cross by phone at (903) 546-
6975, by fax at (903) 546-6017, or by email at susan.lafollettAlafollettcpa.com or
kim.crossglafol lettcpa.com.
If the foregoing fairly sets forth your understanding, please sign the enclosed copy of this letter in the
space indicated and return it to our office. However, if there are other tax returns you expect us to
prepare, please inform us by noting so at the end of the return copy of this letter and return to LaFollett &
Abbott PLLC,118 Cottonbelt, PO Box 717, Tom Bean, TX 75489-0717.
We want to express our appreciation for this opportunity to work with you.
Sincerely,
-1 It/ `;i j / , I j P
LaFollett & Abbott PLLC
Certified Public Accountants
Response:
This letter sets forth the understanding of Anna CDC
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