Documents › Board of Education, 2026-07-16

bid 11 pages

Also attached to this agenda item: Re-inventory Services (CBIZ Valuation Group, LLC)

JULY 8, 2026 Proposal for Fixed Asset Reporting and Property Insurance Updating Services to: Croton Harmon UFSD Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 2 PERSONAL AND CONFIDENTIAL July 8, 2026 Mr. Barry Gamzon District Treasurer Croton Harmon UFSD 10 Gerstein Street Croton-on-Hudson, NY 10520 Re: Fixed Asset Reporting and Property Insurance Valuation Updating Services Dear Mr. Gamzon: CBIZ Valuation Group, LLC (“CVG”) is pleased to submit our recommendations to provide fixed asset and property insurance reporting services to Croton Harmon UFSD (“the District”). These services are offered to NYSIR Subscribers at preferred rates to update your records in the years between your District’s NYSIR Funded Valuation. This proposal has been prepared based on our understanding of your needs and our experience providing these services to NYSIR Subscribers. Included herein is a summary of the anticipated scope of services to be provided, approaches and methodologies to be employed, the anticipated project schedule and work product, the District’s responsibilities and an estimate of professional fees. We appreciate the opportunity to submit this proposal and look forward to working with you on this engagement. Should you have any questions, please call Olga Chavez at (845) 987-8896 or via email at ochavez@cbiz.com. Respectfully submitted, CBIZ VALUATION GROUP, LLC R.F. Acebal Senior Client Executive – Tangible Asset Practice Phone: 609.896.0300 Email: racebal@cbiz.com Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 3 Scope of Services The scope of this engagement is to provide professional fixed asset reporting and insurance valuation updating services to the District. Our services are specifically designed to address: • Fixed Asset Reporting: Prepare reports that can be utilized by the District in its effort to assist with meeting GASB-34 and GAAP reporting requirements. • Property Insurance Reporting: Prepare reports to be utilized by the District to assist in establishing insurable values, insurance placement and proof of loss documentation as they relate to the property insurance reporting requirements set forth by NYSIR. Updating Services The following updating options are available and are priced accordingly in the fee section of this proposal: New NYSIR-Approved, GASB-34 Processing Change: Going forward, we will no longer be reporting on Construction in Progress (CIP) (Asset Class 350). CIP will only incorporate our financial reporting report once the project has been completed and depreciation can be calculated. Completed projects must be reported by asset class consistent with your fixed asset policy. The accounting and insurance threshold will be the same threshold. We will no longer need the District to report on items below this threshold. Also, all items below the District’s threshold will be treated as current year disposal and should be processed on the District’s financial reports for the current year. Option #1 - Electronic Annual Updating Service (AVS): CVG will provide a preformatted Excel template that will allow you to record all current year fixed asset activity including additions, disposals and transfers that align with board-approved fixed asset policy of $10,000. CVG will use our final reports balance from 6/30/2026 as an opening balance of our reports. When preparing annual updating data for submission, please review your accounting ledger equipment codes (example 200 for equipment) for additions that are to be added to the AVS template. We also encourage the District to review the additions entered into the template with your auditor prior to sending the data to CVG. This will help to ensure the update data coincides with the changes to the fixed asset account group your auditor is expecting in the reports CVG issues. After this year’s changes have been entered in the spreadsheet, the updated file should be emailed directly to CVG for review and processing. Upon receipt of the file, CVG will conduct a high-level quality control and consistency review to ensure that the data provided in the file appears to be reasonable. In the event that the data does not pass our quality control and consistency review, CVG will contact you to review our findings and determine an appropriate solution. Once we are in receipt of the District’s acceptable file, CVG will process the changes, update depreciation, trend all insurable values and produce reports. Option #2 - Limited Onsite Reconciliation - Purchase Reconciliation & Inventory: CVG will visit the District to record and reconcile current year additions consistent with the District’s board-approved fixed asset policy. CVG’s reconciliation will include: • Reviewing current year purchase orders, cost records and other information provided by the District. • When feasible, current year equipment purchases will be barcode tagged. All equipment will need to be removed from original packaging. • CVG will also record and process current year disposals based on information provided by the District. Disposals will not be verified by physical inspection. Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 4 • After the onsite portion of the project is completed and we are in receipt of the District’s file, CVG will process the changes, update depreciation, trend all insurable values and produce draft reports. • Barcode tags provided to CVG by the District will be uniformly applied to non-tagged assets, as applicable. If tags are needed, we can provide the information and order form for our preferred vendor at discounted rates. We recommend ordering tags two weeks prior to the onsite visit. Timeline and Deliverables Before CVG can begin to develop reports, all District-supplied files should be provided. We will provide one set of final reports within 30 days. Reports will be forwarded electronically for review and revision. After delivery of final reports, the District will have 30 days to review, make changes, or provide any comments. If necessary, CVG will provide one set of revised final reports once they are reviewed by your auditor. Revised, finalized reports can take 15 business days to complete. We will provide the following deliverables: • Transmittal Letter • Account Summary • Accounting Summary • Year-To-Date Depreciation Summary • Current Year Additions Detail • Current Year Disposals Detail • Accounting Detail – By Location & Organization • Insurance Summary • Insurance Detail* *will be provided to NYSIR directly Standard of Value & Depreciation Methodology CVG will utilize various costing methodologies to develop valuation conclusions. The sources may include the use of proprietary and third-party software, proprietary databases, technical pricing subscriptions, various publications, and the District-supplied information (purchase orders, capital project costs, financial statements, etc.). The standards of value for this engagement will include the following: • Original/Acquisition Cost: The amount of money originally paid to acquire an asset. It generally includes costs such as transportation, set-up charges, taxes, engineering and architectural fees. • Book Value: The amount of money originally paid to acquire an asset. It generally includes costs such as transportation, set- up charges, taxes, engineering, and architectural fees minus the accumulated depreciation. Depreciation methodology for this engagement will be Straight-Line Method / First-of-the-Month (Full Month) Convention. • Replacement Cost New (RCN): As applicable to insurance valuations, it is the cost required to produce a property of like kind and materials at one time in accordance with current market prices for materials, labor and manufactured equipment, contractors’ overhead, profit and fees, but without provisions for overtime or bonuses for labor and premiums for materials. Our replacement cost new conclusions will include deductions for standard insurance exclusions (i.e., underground piping, foundations, footings, excavation, grading, etc.). We will not take into consideration compliance with state or local ordinances or costs associated with demolition of property or the removal of debris. Partial losses may result in higher replacement costs as partial losses often require a substantial amount of repair in conjunction with the replacement process. Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 5 • Depreciation Straight-Line Method: The method of calculating deprecation by dividing the cost, less salvage, by the number of fiscal periods of useful life. • Depreciation First-of-the-Month (Full Month) Convention: Assets are treated as being placed into service on the first day of the month they are acquired, even if they were actually purchased after the first of the month. For additions, depreciation is calculated for a full month in the month the asset was acquired. For disposals, no depreciation is calculated in the month of disposition; rather, it is calculated through the last day of the month prior to disposal. Different depreciation methods or conventions are subject to an additional charge. Engagement Exclusions Any additional work needed on the service exclusions outlined below will be billed separately at our standard hourly rates of $240 to $330 and in accordance with CVG’s standard expense practices, which include: • Opening Balance Reconciliation - If your auditors used different amounts than those on our reports additional work effort will be necessary to correct. Adjustments to opening balance will require the District to provide CVG with detailed information (description, cost, acquisition date and useful life) to adjust previous year totals. • Data Entry Services - include any information the District wants added to the reports that is not provided in the AVS updating template. • Incomplete Submission - the District has the ability to review final reports and make one additional set of changes at no cost. Subsequent revisions after issuance of final reports will be considered additional services. Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 6 Engagement Fees & Client Acceptance The fees for the professional services outlined in this proposal are provided below and are inclusive of travel and out-of-pocket expenses unless otherwise noted. You may indicate the acceptance of our proposed services and related fees by initialing the desired service executing the signature block and returning a copy of the agreement via email to linda.meyer@cbiz.com. Please initial the services to be included in the contract. Fees for Services Fee Initial to Confirm Option 1: Electronic Annual Update Service 2026/2027 Fiscal Year $2,750 Option 2: Limited Onsite Update Service 2026/2027 Fiscal Year $5,150 Please note that all change requests made after the issuance of final reports are subject to CVG’s standard labor rates of $240 to $330 per hour. The fees for the professional services outlined within this agreement shall remain in effect for a period not greater than 90 days from the date of this proposal. As a publicly traded company, CVG retains client records and work files for a period of seven (7) years. If conditions beyond our control are encountered, or if the scope of the engagement is expanded beyond its original requirements such that we will require additional time and fees not presently estimated in our work plan, we will notify you before proceeding to arrange a mutually acceptable revision in our fees. If a decision is made by you to discontinue work on an engagement, our fees will be based upon the actual consultant hours and expenses incurred as of that date. Any subsequent meetings/conversations or other service requests, including activities and expenses outside the scope of our technical proposal, will be billed separately at our standard hourly rates and in accordance with CVG’s standard expense practices. Services requested after the issuance of our reports, such as meetings, planning, testimony and other services, will be billed separately at our normal hourly rates and in accordance with our normal expense practices. Fees for valuation report updates will be based upon our standard hourly rates plus expenses incurred. We will bill 100% of the fee upon delivery of reports. Our invoices are payable within 30 days of presentation. Invoices not paid within 45 days shall be considered delinquent. Delinquent invoices shall be subject to a late charge equal to the lesser of one-and-one-half percent (1.5%) per month, or the maximum amount allowed by state law. Disputes pertaining to billing matters must be put in writing within 20 days upon receipt of the invoice. CBIZ Valuation Group, LLC reserves the right to suspend or terminate this engagement for the District’s failure to make timely payment. Should any invoice remain unpaid beyond 60 days, professional activity will cease until payment is received. Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 7 Client Acceptance I have read the terms of this agreement and hereby authorize this assignment ACCEPTED this ______ day of ____________, 20___ Client: Croton Harmon UFSD By: Written Name Printed Name Title: The fees for the professional services outlined within this agreement shall remain in effect for a period not greater than 90 days from the date of this proposal. Client Authorization We authorize CVG to distribute electronic copies of the District reports to our independent auditor. ____ (please initial) Auditor Name: __________________________Phone: _______________ Email: _________________________ Please follow these steps: 1. Sign and date the document and specify the report recipient’s name and email address 2. Return signed engagement to: Email to: linda.meyer@cbiz.com Or mail to: CBIZ Valuation Group, LLC Attn: Linda Meyer W227 N16867 Tillie Lake Court, Suite 201, Jackson, WI 53037 Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 8 Appendix A: Terms & Conditions The terms and conditions of this engagement with CBIZ Valuation Group, LLC (“CVG”) are subject to and governed by the following Terms and Conditions and other terms, assumptions and conditions contained in the Engagement Letter. Indemnification The School District shall indemnify and hold harmless CVG and its personnel from and against any causes of action, damages (whether compensatory, consequential, special, indirect, incidental, punitive, exemplary, or of any other type or nature), costs and expenses (including, without limitation, reasonable attorneys’ fees and the reasonable time and expenses of CVG’s personnel involved) brought against or involving CVG at any time and in any way arising out of or relating to CVG’s services under this engagement, except to the extent judicially determined to have resulted from the bad faith, negligence, or willful or intentional misconduct of CVG’s personnel. This provision shall survive the termination of this agreement for any reason, and shall apply to the fullest extent of the law, whether in contract, tort, or otherwise. CVG shall indemnify and hold harmless the School District, involved in Property Insurance Reporting by CVG and their respective representatives from and against any causes of action, damages (whether compensatory, consequential, special, indirect, incidental, punitive, exemplary, or of any other type or nature), costs and expenses (including, without limitation, reasonable attorneys’ fees and the reasonable time and expenses of their personnel involved) brought against or involving the School District at any time and in any way arising out of or relating to CVG’s services under this engagement, due to alleged bad faith, negligence, or willful or intentional misconduct of CVG or its personnel. This provision shall survive the termination of this agreement for any reason, and shall apply to the fullest extent of the law, whether in contract, tort, or otherwise. To the fullest extent permitted by law, CVG shall indemnify, defend and hold harmless the Subscriber (School District), its employees, agents and representatives, from any and all liability, losses, costs, damages, and expenses (including but not limited to reasonable attorney's fees and disbursements) from any claims, disputes, or causes of action arising out of operations performed or services provided under the contract.. To the fullest extent permitted by law, the (School District) shall indemnify, defend and hold harmless CVG, its employees, agents, and representatives from any and all liability, losses, costs, damages, and expenses (including but not limited to reasonable attorney's fees and disbursements) from any claims, disputes, or causes of action arising out of operations performed or services provided under the contract. Indemnification Procedures If any action or proceeding (any of the foregoing being a “Claim”) is threatened or commenced by any third party against CVG that School District is obligated to defend or indemnify under this Agreement, then written notice thereof shall be given to School District as promptly as practicable. After such notice and only so long as CVG’s and the School District’s interests with respect to the claim remain consistent, no conflict exists, and, in controlling the defense, CVG’s insurance is not voided or otherwise compromised in any way, School District shall be entitled, if it so elects in writing within ten days after receipt of such notice, to take control of the defense and investigation of such Claim and to employ and engage attorneys to handle and defend the same, at School District’s sole cost and expense, with the approval of CVG, which approval shall not be unreasonably withheld. CVG shall cooperate in all reasonable respects with School District and its attorneys in the investigation, trial and defense of such Claim and any appeal arising therefrom; provided, however, that CVG may, at its own cost and expense, participate, through its attorneys or otherwise, in such investigation, trial and defense of such Claim and any appeal arising therefrom. School District shall enter into no settlement of a Claim that involves a remedy other than the payment of money by School District without the prior consent of CVG. Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 9 After notice by School District to CVG of its election to assume full control of the defense of any such Claim, and CVG’s approval of selected counsel, School District shall not be liable to CVG for any legal expenses incurred thereafter by CVG in connection with the defense of that Claim. If School District does not assume full control over the defense of a Claim, then School District may participate in such defense, at its sole cost and expense, and CVG shall have the right to defend the Claim in such manner as it may deem appropriate, at the cost and expense of School District. If any action or proceeding (any of the foregoing being a “Claim”) is threatened or commenced by any third party against NYSIR or any of its CVG Involved Subscribers that CVG is obligated to defend or indemnify under this Agreement, then written notice thereof shall be given to CVG as promptly as practicable. After such notice and only so long as NYSIR or any of its CVG Involved Subscribers and CVG’s interests with respect to the claim remain consistent, no conflict exists, and, in controlling the defense, NYSIR’s or any of its CVG Involved Subscribers insurance is not voided or otherwise compromised in any way, CVG shall be entitled, if it so elects in writing within ten days after receipt of such notice, to take control of the defense and investigation of such Claim and to employ and engage attorneys to handle and defend the same, at CVG’s sole cost and expense, with the approval of NYSIR and its CVG Involved Subscriber, which approval shall not be unreasonably withheld. NYSIR and its CVG Involved Subscriber shall cooperate in all reasonable respects with CVG and its attorneys in the investigation, trial and defense of such Claim and any appeal arising therefrom; provided, however, that NYSIR or its CVG Involved Subscriber may, at their own respective cost and expense, participate, through its attorneys or otherwise, in such investigation, trial and defense of such Claim and any appeal arising therefrom. CVG shall enter into no settlement of a Claim that involves a remedy other than the payment of money by CVG without the prior consent of NYSIR or its CVG Involved Subscriber. After notice by CVG to NYSIR or its CVG Involved Subscriber of its election to assume full control of the defense of any such Claim, and NYSIR’s or its CVG Involved Subscriber approval of selected counsel, CVG shall not be liable to NYSIR or its CVG Involved Subscriber for any legal expenses incurred thereafter by NYSIR or its CVG Involved Subscriber in connection with the defense of that Claim. If CVG does not assume full control over the defense of a Claim, then CVG may participate in such defense, at its sole cost and expense, and NYSIR or its CVG Involved Subscriber shall have the right to defend the Claim in such manner as it may deem appropriate, at the cost and expense of CVG. Limitation on Damages The School District agrees that CVG and its personnel shall not be liable to the School District for any claims, liabilities, causes of action, losses, damages (whether compensatory, consequential, special, indirect, incidental, punitive, exemplary, or of any other type or nature), costs and expenses (including, but not limited to attorneys’ fees) in any way arising out of this engagement in any amount greater than the total amount of fees paid by the School District to CVG, except to the extent finally and judicially determined to have been the result of bad faith, negligence, or intentional or willful misconduct of CVG. This provision shall survive the termination of this agreement for any reason, and shall apply to the fullest extent of the law, whether in contract, statute, tort, or otherwise. CVG agrees that NYSIR, its CVG Involved Subscribers, and their representatives shall not be liable to the CVG for any claims, liabilities, causes of action, losses, damages (whether compensatory, consequential, special, indirect, incidental, punitive, exemplary, or of any other type or nature), costs and expenses (including, but not limited to attorneys’ fees) in any way arising out of this engagement in any amount greater than the total amount of fees paid by the School District to CVG, except to the extent finally and judicially determined to have been the result of bad faith, negligence, or intentional or willful misconduct of NYSIR or its CVG Involved Subscribers. This provision shall survive the termination of this agreement for any reason, and shall apply to the fullest extent of the law, whether in contract, statute, tort, or otherwise. Limitation on Distribution and Use The report, the final estimate of value, and the prospective financial analyses included therein are intended solely for the information of the person or persons to whom they are addressed or directed by CVG and solely for the purposes stated; they should not be relied upon for any other purpose, and no party other than the School District or its CVG Involved Subscribers may rely on them for any purpose whatsoever. Neither the valuation report, its contents, nor any reference to the appraiser or CVG may be referred to or Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 10 quoted in any registration statement, prospectus, offering memorandum, sales brochure, other appraisal, loan or other agreement or document given to third parties without the advance written consent of CVG. In addition, except as set forth in the report, our analysis and report are not intended for general circulation or publication, nor are they to be reproduced or distributed to third parties without the advance written consent of CVG. Notwithstanding the foregoing, in the event that the analysis and/or report are required to be disclosed pursuant to a lawful subpoena or a FOIL request, CVG will not charge a fee for such release of the analysis and/or report. Not A Fairness Opinion Neither our opinion nor our report are to be construed as an opinion of the fairness of an actual or proposed transaction, a solvency opinion, or an investment recommendation, but, instead, are the expression of our determination of the fair value between a hypothetical willing buyer and a hypothetical willing seller in an assumed transaction on an assumed valuation date where both the buyer and the seller have reasonable knowledge of the relevant facts. Operational Assumptions Unless stated otherwise, our analysis (i) assumes that, as of the valuation date, the NYSIR Subscriber and its assets will continue to operate as configured as a going concern, (ii) is based on the past, present and future projected financial condition of the NYSIR Subscriber and its assets as of the valuation date, and (iii) assumes that the NYSIR Subscriber has no undisclosed real or contingent assets or liabilities, other than in the ordinary course of business, that would have a material effect on our analysis. Competent Management Assumed It should be specifically noted that the valuation assumes the property will be competently managed and maintained over the expected period of ownership. This appraisal engagement does not entail an evaluation of management’s effectiveness, nor are we responsible for future marketing efforts and other management or ownership actions upon which actual results will depend. No Obligation to Provide Services After Completion Valuation assignments are accepted with the understanding that there is no obligation to furnish services after completion of the original assignment. If the need for subsequent services related to a valuation assignment paid by NYSIR pursuant to this Agreement occurs, including updates, conferences, testimony, preparation for testimony, document production, interrogatory response preparation, or reprint and copy services whether by request of the School District or by subpoena or other legal process initiated by a party other than the School District in regard to the School District, NYSIR agrees to compensate CVG for its time at its standard hourly rates then in effect, plus all expenses incurred in the performance of said services. CVG reserves the right to make adjustments to the analysis, opinion and conclusion set forth in the report as we deem necessary by consideration of additional or more reliable data that may become available. No Opinion is Rendered as to Legal Fee or Property Title No opinion is rendered as to legal fee or property title. No opinion is intended in matters that require legal, engineering or other professional advice that has been or will be obtained from professional sources. Liens and Encumbrances We will give no consideration to liens or encumbrances except as specifically stated. We will assume that all required licenses and permits are in full force and effect, and we make no independent on-site tests to identify the presence of any potential environmental risks. We assume no responsibility for the acceptability of the valuation approaches used in our report as legal evidence in any particular court or jurisdiction. Information Provided by Others Information furnished by others is presumed to be reliable; no responsibility, whether legal or otherwise, is assumed for its accuracy and cannot be guaranteed as being certain. All financial data, operating histories and other data relating to income and expenses attributed to the business have been provided by management or its representatives and have been accepted without further verification, except as specifically stated in the report. Croton Harmon UFSD Proposal for Services | July 8, 2026 CBIZ.COM 11 Prospective Financial Information Valuation reports may contain prospective financial information, estimates or opinions that represent reasonable expectations at a particular point in time, but such information, estimates or opinions are not offered as forecasts, prospective financial statements or opinions, predictions or as assurances that a particular level of income or profit will be achieved, that events will occur or that a particular price will be offered or accepted. Actual results achieved during the period covered by our prospective financial analysis will vary from those described in our report, and the variations may be material. Any use of management’s projections or forecasts in our analysis will not constitute an examination, review or compilation of prospective financial statements in accordance with standards established by the American Institute of Certified Public Accountants (AICPA). We will not express an opinion or any other form of assurance on the reasonableness of the underlying assumptions or whether any of the prospective financial statements, if used, are presented in conformity with AICPA presentation guidelines. Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of law principles. The parties hereby irrevocably submit to the jurisdiction of the federal or state courts in the State of New York, specifically and exclusively in the State or the Federal District Court located in the County of Nassau in the State of New York, over any dispute or proceeding arising out of this Agreement and agree that all claims in respect of such dispute or proceeding shall be heard and determined in such court. The parties to this Agreement hereby irrevocably waive, to the fullest extent permitted by applicable law, any objection that they may have to the venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. T&CRev4.27.17