2004-12-20 CC Packet - Laserfiche WebLink

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December 1,2004- Page TJn:ee Audit AdmiDistratiOD, Fees and Oftler We understand that your employees will prepare all cash or o1her cnnfinnmons we request and will locate any invoices selected ~m~~ . We wm prepare a genemlledger trial balance for me during the audit. Oar prepamtion of the trial balance will be limited to fonn~ information in the genem1ledger into a working trial balance. As part of the audit we will prepare a draft of your financial slateroents and related notes. You will be required to review and approve those financial statements prior to their issuance and have a responsibility to be in a position in met and appe8rance to make an inf011I1OO jrntgment on those financial ll~tQllleilts. . Further you are required to desigoate a qualified.management-1eve1 ~dual to be responsible and accountable for ovelsccing our services. . Our ~ fortb.ese services will be at our standard homly rates plus olIt-9f-pocket costs (socb. as report ~on, typing, postage, flavel, copies, telephone, etc.). We estimate that om gross fee, including expenses will be approximately $19,000. Oar standard hourly rates vary according to the degree of responsibility ~olved and the experience level of the personnei assigned to yom audit. Oar invoices for these fees will be rendered each month as work progresses and are payable on presentation. In accordance with our firm policies, work may be suspende4 if yom acCount becomes 90 days or more overdue and may not be resumed mrtil yom account is paid in full. U"we el~ to ~Tnate om services for nonpayment, om engagement will be deemed to have been completed upon written notification oftP.rminRtion, even jfwe have not completed om report. You will be obligated to compensate us for all time expended and to reimburse us for all out-of-pocket costs 1fIrough the date oftenninmon. The above fee is based on anticipated coopemtion ftoin yom personnel and the assumption that unexpected circumstances will not be encountered during the audit. If significant additional time is necessarY, we will discuss it with you and arrive at anew fee estimate before we incur the additional costs. We appreciate the opportunity to be of service to the City and believe this letter accurately RlI1111TIm'i7.e8 the Rigrtifica;nt terms of om engagement. If you have any questions, please 1etus know. If you agree with the terms of om engagement as described in this letter, please sign the enclosed copy and retom it to us. Sincerely, ABOO, EICK. & MEYERS, LLP Certified Public Accountmds ~ !VJ~ Steven R. McDonald, CPA 952.835.9090 · Fwl9li2.835.3261 wWwM.nll'pIl8.conl