CCP 10-30-2006 (2) - Laserfiche WebLink

Home Browse Search

Mr. Murtuza Siddiqui Page 2 July 19,2006 \Ve will also provide a management report to communicate comments and recommendations as a result of . the audit. Our managemcnt report will includc the Ilmnal communications to the City's audit/financt: committee or its equivalent as required by Statement on Auditing Standards No. 61, "Communication With Audit Committecs." We understand that you will prO\-ide us \vith the hasic infonnation requircd t(l1- our audit and that you are responsible for the accuracy and completencss of that inf(mnation. We \vill advise you about appropriate accounting principles and their application and will assist in the preparation of your financial statements, but the n:sponsibility t(lr thc financial statements remains with Y(llI. This responsibility includes the maintcnance of adequate records and related internal control policies, the sekction and application of accounting principles. and the sakguarding of assets. The assistance to be supplied hy your personncl, including the prcparation of schedules and analysis of accounts, typing all cash or other conlirmations wc requcst. and locating any invoices selected by us l()r testing, will be discussed and cllordinated with you. We understand that we will bc responsihle for preparing the initial drat! of the financial statements, notes, and supporting schedules. We understand that \\'l: will also be responsible for typing, fonnatting, printing, and binding the linam:ial statements. Prior to issuance of the linal audit report, we shall review the rep0l1 draft, management rep0l1, in!l;mal control letters, and any other required state or fCderal compliance reports v.:ith the City's management. Unless unf()reseen circumstances occur (such as tUlllover of key city finance personnel), we anticipate no difficulty in meeting the time rcquircments tl..lr compktion of the work described ahove as set forth in the City's Request for Proposal !(lr Pn)/Cssional Auditing Services. . We believe we are best qualified to perl()fJlI the engagement for the l()lIowing reasons: CD Fxperience in 1\-'linm:soia city auditing and consulting . Experience with and expert kllll\vledge of the financial rep0l1ing model described in GASH Statement No. 34 . Experience with Minnesota city public tinanee and various municipal enterprise operations. including a variety of utility OTk~rations. gol I' courses, and otheropcrations . Expericnce with growing mdropolitan municipalities, ineluding those with signilicant economic development . Experience with tax increment financing within l'vlinnesota cities . Abilitv to communicatt: and work with vou . -. The current environment has placed incredible strains on city linances in Minnesota. In such times, you need more than an anllual audit of past financial transactions. Obtaining good advice from a reliable consultant throughout the year can be an eflicient use of funds. Our history of 50+ years of service to Minnesota cities is indicated in this proposal. This proposal presents our qualiticatillns, but we ask that you contact anyone of our n:!Crcnces herein to . provide you with the most convincing evidencc_ It is our bcliefthat every addition to our city c1icnt group is a result of existing clientele who are more than satisfied with our services.