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Home My WebLink About8.c. 1988 Audit Proposal Approval -- � ,;,,,.: -� ` , , ��;�,a � � � � � �� ;--- ��. (7 . (tr�<',(:�'.A(�1 i�1� }ni� � t �:(��[ 1 -,[Nr�. . . ,xr�� . � �� . � � _,1`i..1,11! , � � . � � . . . � .. � . ` l.f�'J��Z/i }� * �� ' ' �� `��:�� . � � T 1"E�m ;��-�.. TO: P•2ayor Hoke Councilmemb�rs �xborau�h Walsh ' � Wippermann ,j' ,R�;�: Stephan Jilk, �1c��ninistrator/Clerk `' 1 �� , \ DA'PE: October_ 1 3 , 1988 / ��;; Audit Pro��sal for 1988 Please f ind att ached a proposal to co�npletQ the f.:inanc;i�l a�iclit for for the ye�r 1988. Also find �ttaciz�d Doil D�rl.i,ng' s c.i ty recc,rds �rd. mQmo.r.ar��zm in that reg . th Don' s appraisal and rpcomme�i��i=ion =�fn� r.��1te^i��`'��n I concur wi ��prc�val for this prop�sa.l and attthc�ri.zaf:iara f�.r ��l�al_� �f the city. srnj 111�.tachments � � � -. .. � _ � l3�ECJ�'C!�'V I�NN N�'INF..,�N!Sc 11�lYER C E R T I F I E D P U B t I G A C C O U N T A N T S September 19, 1988 . ,,�, Steven Jilks City Administrator � City of Rosemount . -" We are pleased � to �onfirm our ianderstanding of the services we are to provide for the City of Rosemount for the year ended December 31, 1988. We wi11 audit the general purpose financial statements of the City of Rosemount as of and for the year ended December 31, 1988. Our audit will be made in acet�rdance with generally accepted auditing standards and will include tests of the accounting records of the City ,of Rosemount and other procedures we consider necessary to enable us to expresS an unqualified apinion that the financial statements are �airZy presented in con€ormity with generally accepted �ccounting principles consistently applied. If our opinion is other th�n �tnqualified, we will fully da.scuss the reasons with you' in advancc�. Our procedures will include tests of documentary evidence sup- porting �he transactions recorded in the accounts, and may include tests of the physical existenc� of inv�ntories, and direct confirmation of receivables and certain other assets and liabilities by cor�respondence with selected individuals, credi- tors, and banks. We will request written representations from your attorneys as p��:t of the engagement, and they may bi].l you for responding to this ' inquiry� At the conclusion of aur exami- nation, we will also 'request certain written representations from ` you about the financial statements and related matters. An audit is based primarily on the seleetive testing of account- ing records and rel�ted data; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. Because we will not perform a detailed exam- ination of all transactions, there is a risk that material MtNNEAP041S.MN 7500 Ffying Ctoud Drive#740 &len Prairie,MN 55344 . 16I21994-5999 . w � , � • ' ' Steven Jilks City of Rosemount 5eptember 19, 1988 ` Page Two errors, irregulariti�s, or ill�gal acts, including fraud or defalcations, may exist and not be d�tected by us. We will advise you, however, ' of any matters of that nature that come to our attention. We understand that you will provide us with the basie information � required for our audit and that you are responsible for the accu- racy and completeness of that informatian. We will advise you about appropriate accounting principles and their application and will assist in the pr�paration of yaur financial statements, but the responsibility for the financial statements remains with � you. This responsib3.lity inciudes the maintenance of adequate records and related controls, the selection and application of accounting principles, `and the safeguarding of assets. We understand that �rour emplayees wi'11 locate any invoices selected by us for testing. Our audit is not specifically designed and cannot be relied on to disclose reportable conditi+�ns, that is, significant deficiencies in the design or operat�.on of the internal eontral structure. Hawever, during the audit, if we becozne aware of such regartable conditions or ways that we believe management practices can be improved, we will communicat� them to you in a separate letter. Our fees for these services ' will be based on the aetual time • spent at our standard ;hourly ra��s, plus travel and other out-of- pocket costs such �s report production, typing, pQstage, etc. Our standard hourly �ates v�ry according to the degree of respon- sibility involved �nd the experience level of the personnel : assigned to your audit. Our invoices for these fe�s will be rendered each month as wo�k progr�sses and are payable on presen- tation. Based on aur pre.titninary estimates, the fee will, not exceed $10, 500. This estimate is based on anticipated coopera- : tion from your personnel and the assumptian that unexpected circumstances will not be encountered during the audit. If ` significant additional time ' is necessary or if an extension af our services is required by another gavexnmentai entity, we will I discuss it with you and arrive at a new fee estimate befor� we incur the additional efl5ts. � � „ ,•� t ` 5teven Jilks � � City of Rosemount September 19, 1988 Page Three We appreciate the opportunity to be af service to the City of Rosemount and believe this letter accurately summarizes the sig- nificant terms of aur enqagem�nt.- If you have any questic�ns, please let us know. If yQu agree with the terms of our engage- ment as described in this latt�r, please sign tl�e enclosed copy and return it to Us. - Sincerely, _ Allen A. Heinen, C.P,A. . , �,.�1� �- � _...�....--- BOECKERMANN, HEINEN & MAY�R Certified Public Accountants Minneapolis, Minnesota RESPQNSE: This letter correctly sets forth the understanding of the City of Rosemount. BY: ' TITLE: . DATE: � �