PSO EYW-2021-02 05/13/2021 PURCHASE/SERVICE ORDER
FOR
MONROE COUNTY
Effective Date: May 13, 2021 Purchase Service Order No. EYW-2021-02
Client Project No: _404-630203-530490-GAKD147-530310
Project Name: Key West International Ai ort—Financial Reporting Review —Phase 1
Description of Services: Frasca&Associates, along with its sub-consultant A.L. Jackson &
Company, P.A., will assist the Airport and County review and recommend updates to the presentation
of the Airport's financial results as reported in the County's annual financial statements in anticipation
of the sale of airport revenue bonds in 2022. Frasca and Jackson will provide the following services:
• Review the presentation of the Airport's financial information currently contained in the
County's annual financial statements and the related back-up materials supporting operating
revenue, operating expense, non-operating revenue, capital expenditures, grants and other
items,
• Interim financial findings meeting at EYW with Airport Director and Officials within 70 days,
• Identify options and approaches that will support the ability to utilize data and schedules from
the County's financial statements for purposes of presenting debt service coverage and other
credit metrics that will be relevant upon the expected issuance of airport revenue bonds,
• Identify items related to pension and OPEC accounting that may require additional detail for
presentation purposes in support of the expected airport revenue bonds,
• Prepare of list of items that may require clarification,
• Participate in calls and meetings with County and Airport staff to evaluate open items and
potential clarifications, and
• Review drafts of potential alternative presentation of airport financial information.
Days to Complete 210 Lump Sum Fee 45000
Payment for Services shall be in their entirety as per PSO.
Witness: Consultant:
a
s
Name: Marvin Sun Name: Ken Cushine
Date: May 13,2021 Date: Mav 13,2021
Accepted by: Approved by:
Di ector 4 Airports AsstJCounty Administrator
Date: 05/13/2021 Date: May 14, 2021
A R OEE COUNTY AT Q FINEY
HOVE `FTC, .
P, o a.
ASSISTA UNTY ATTORNEY
Date 1 5/14/21