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<br />~ <br />, <br /> <br />1 <br /> <br /> <br />STAFF REPORT <br />CENTERVILLE CITY COUNCIL <br /> <br />Date: December 23, 2003 <br /> <br />To: Honorable Mayor and City CounclI Memben <br />Ms. Kim Moore-Sykes, City Administrator <br /> <br />From: <br /> <br />EDen PauIseth, Finance Director <br /> <br />~ <br /> <br />Re: Audit engagement contract <br /> <br />............................................................................ <br /> <br />Attached please find the 2003 engagement letter from Abdo, Hick: & Myers for the 2003 <br />audit. <br /> <br />As noted, additional fees are included to implement the new audit requirements of SAS <br />99 and GASB 34. SAS 99 relates to fraud detection and involves new procedures which <br />will take extra time. GASB 34 requirements relate to the new accounting standards <br />statement. The GASB 34 fee has been reduced because we have agreed to implement the <br />statement a year earlier than required. <br /> <br />Council should authorize the Mayor or City Administrator to sign the engagement letter. <br />