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City of Centerville <br />August 17, 2010 <br />C` Page 2 <br />X & A - <br />We will perform the auditing services discussed above for the calendar years 2010, 2011 and 2012. If at any time during this <br />period the Council is dissatisfied with our services for any reason whatsoever, our services may be terminated by so informing us. <br />Our Firm, however, shall be obligated at your continuing discretion to perform the audit services for the three -year period at the <br />following fees: <br />Year <br />City Audit <br />2010 <br />$ 25,000 <br />2011 <br />25,500 <br />2012 <br />26,000 <br />• Our fee includes the City audit, the Management Advisory Letter, and general consulting related to the audit. <br />The above fees are based on anticipated cooperation from your personnel and the assumption that unexpected <br />circumstances will not be encountered during the audit. If significant additional time is necessary, we will discuss it with <br />you and arrive at a new fee estimate before we incur the additional costs. Other factors that may affect the above fees <br />would be if a Single Audit were required. The estimated cost, including preparation of the required Data Collection <br />Form, would be approximately $2,000 - $3,000. <br />It is the policy of our Firm to issue a Management Advisory Letter. As independent auditors, we are in a position to acquire a <br />detailed knowledge of client financial and administrative procedures; the Management Advisory Letter serves to summarize our <br />recommendations toward improving the accounting and administrative controls, strengthening financial structure and developing <br />a more efficient business operation. <br />Abdo, Eick & Meyers, LLP recognizes that its most important product is prompt and effective service of the highest quality. We <br />will serve the City to its complete satisfaction and will apply the highest level of skills available in our firm to that end. <br />Sincerely, <br />ABDO, EICK & MEYERS, LLP <br />Certified Public Accountants & Consultants <br />- — i <br />Steven R. McDonald, CPA <br />Managing Partner <br />RESPONSE: <br />This letter correctly sets forth the understanding of the City of Centerville. <br />Signature: <br />Signature <br />Mayor <br />City Administrator <br />952.835.9090 • Fax 952.835.3261 <br />www.aemepas.com <br />