2009 01-20 CCP - Laserfiche WebLink

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MEMORANDUM Date: January. 20, 2009 To: City Council From: Jessie Hart, Treasurer Re: Audit Services for the Year Ended December 31, 2008 Larson Allen submitted a proposal in 2007 for the audit of the City financial records for the years 2007.— 2011 which provided all-inclusive maximum prices for each of the years. The proposal to perform the audit of the City's financial statements for the year ending December 31, 2008.is $9,500, which is $3,000.00 less than last year. The reduction was because the 2007 audit was done on an accrual basis for the first time which required re -stating and auditing of beginning 2007 balance sheet numbers. Past audit services has cost the City as follows: Audit Year Cost 2008 $ 9,500 2007 12,500. The finance staff, as in the past, will provide all possible information and schedules so that the audit costs will be minimized where possible. Staff was comfortable with the audit services the. City received last year and has had a long relationship with the audit firm through White Bear Township. l recommend accepting their proposal to perform audit services of the City's financial statements for the period ending December 31, 2008 at an all-inclusive price of $9,500.00 and authorize the Mayor to sign the audit engagement letter.