CCP 10-30-2006 - Laserfiche WebLink

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Mr. Murtuza Siddiqui Paue 2 c- July 19,2006 We will also provide a management report to communicate comments and recommendations as a result of . the audit. Our management report will include the formal cOlllmunications to the City's audit/finance committee or its equivalent as required by Statcml:nt on Auditing Standards No. 61, "Communication With Audit Committces." \Ve ul1tkrstand that you will provide us with the basic infl.mnation required fl)r our audit and that you arc responsible fl.)r the accuracy and eomplctelll:ss of that inl(mnation. We \vill advise you about appropriate accounting principles and their application and will assist in the pn:paration of your financial statements. but the responsibility for the tinaneial statements remains with Yl)ll. This responsibility includes the maintenance of adequate records and related internal control policies, the selection and application of aCl:ounting principles. and the safeguarding: of assets. The assistance to be supplied hy your personnel. including the pn:paration of schcdules and analysis of accounts, typing all cash or other confirmations we request. and locating any invoices selected by us 1\x testing, will be discussed and coon.linated with you. We undcrstand that we will be responsible tl)r preparing the initial drali of the tinancial stakments, notes, and supporting schedules. We understand that we will also he responsible fl.>r typing, fl.mnatLing. printing, and binding the financial statements. Prior to issuance of the final audit report. we shall revie\v the replH1 draft. management report, internal control lettcrs. and any other required state or tixkral e()mplian~e reports with the City.s management. Unless unll.m:seen circull1stances occur (such as turnover of key city finance personnel), we anticipate no di tTiculty in meeting the time requirements li)r compktion of the work described above as set f()rth in the City's Requcst tl.)r Proposal fix ProtCssional Auditing Services. . We helieve we arc best quali1~ed to perl(lrnJ the engagemcnt felr the t(lllowing reasons: = Experience in IVfinnesola city auditing and cO\1suliing . Experience with and expert knowledge of the financial reporting model described in GASH Statement No. 34 . Experience \vith Minnl:sota city public finance and various municipal enterprise operations, including a variety of utility operations. !!-nl I' courses. and other operations . Expelience with growing metropolitan municipalitics, including those with sigIli1~cant economic development . Experience with tax increment t~naJlcing within l'vlinnesota cities . Ability to communicate and work with you The current environment has placed incredible strains on city finances in Minnesota. In such times, you need 1I10re than an allnual audit of past linancial transactions. Obtaining good advice from a reliable consultant throughout the year ean be an efficient use of funds. Our history of SOot years of service to Minnesota cities is indicated in this proposal. This proposal presents our qualitieatil>lls, but we ask that you contact anyone of our re/l;rcnces herein to . providc you with the most convincing cvidencc. It is our belief that every addition to our city client group is a result of existing clientele who arc more than satislied with our services.