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Page 1 of 2 <br />Dallas Larson <br />From: Steve Mcdonaid [smcdonald@aemcpas.com] <br />Sent: Wednesday, January 28, 2009 2:57 PM <br />To: dlarson@centervillemn.com <br />Subject: acct prep engagement <br />Dallas, Here is the proposed content of the letter I will have Emily send over. I have listed all the <br />schedules we expected John to do. We estimate it will take 40 hours to complete. At that point <br />you will have goad numbers for reporting to council. Please let me know if you have any <br />questions. <br />The purpose of this letter is to set forth the understanding of our engagement to provide <br />assistance with the preparation of schedules supporting the year end balances for the City of <br />Centerville for the year end December 31, 2008. <br />We will prepare the following schedules: <br />• Investments - adjustment to market value <br />• Cash and investments -footnote disclosure support <br />• Taxes -Schedule of tax se#tiements <br />• Taxes -reconciliation of delinquent balances <br />• Accounts receivable- governmental -Schedule of balances <br />e Accounts receivable -enterprise _ schedule of balances <br />• Accounts receivable -schedule of billing and collections <br />• Special assessments -reconciliation of delinquent balances <br />• Special assessments -reconciliation of deferred balances <br />+ Interfund balances -schedule of duelto other funds and transfers <br />• Inventories -reconciliation of balances <br />+ Capital assets -Work in process schedule <br />• Capital assets -list of additions and deletions <br />• Escrow accounts -schedule of balances <br />• Salaries payable -schedule of accrued balances and compensated absences <br />• Deferred revenue -schedule of balances <br />• Debt -schedule of future payments and reconciliation of activity <br />You agree ta: <br />• Devote uninterrupted time to working with us as needed <br />• Make candid representations about your plans and expectations <br />o Be responsible for making all management decisions and performing all management <br />functions; <br />o Be responsible for designating an individual (Dallas Larson} with suitable skill, knowledge, <br />or experience to oversee our work paper preparation services <br />• Be responsible far evaluating the adequacy and results of those services and accepting <br />1/2$f2009 <br />