HomeMy WebLinkAboutRevenue Sharing Special Audit Letter DE L.AM U N.T VOTO & CO LTD.,
C ERTIFIED PUBLIC ACCOUNTANTS
WHITE BEAR LAKE. MINNESOTA 58110
PHONE 426 -3263 i
P. O. BOX 8678
January 30, 1974
Mr. Ken Heuer, Clerk
City of Oak Park Heights
Route #1
Stillwater, Minnesota 55082
Re: Revenue Sharing Special Audit
Dear Mr. Heuer: _
In October or November of 1973, you received a booklet ( "Audit Guide and
Statement for Revenue Sharing Recipient "). In that booklet, the Office
of Revenue Sharing explains the special requirements of a Revenue Sharing
Special Audit. They also indicate that they would prefer that you have
an audit performed by your regular auditors rather than use Federal
Auditors.
The following are exerpts from that booklet and the letter of transmital:
"It is the intention of the Secretary to rely to the maximum
extent possible on audit of recipient governments by State`
and local government auditors and independent public accoun-
tants."
"We think there are two reasons you may want to have your
auditors follow the Audit Guide when they make an audit.
First, it shouldn't cost much to add (have) a revenue sharing
audit made when your normal auditing is being done, and this
would let you know If your government is doing a good job in
handling its revenue sharing responsibilities.. Second, if
you have your auditors follow the Audit Guide we expect to
accept their audit and not send our own auditors to go through
your records again."
We have reviewed the "Audit Guide and Standards for Revenue Sharing
Recipients" and we are able to perform a Revenue Sharing Special Audit
that should be accepted by the Office of Revenue Sharing in leiu of an
audit by Federal Auditors. This audit will be made in accordance with
the special requirements of the "Audit'Guide and Standards for Revenue
Sharing Recipients ". This Revenue Sharing Special Audit will be in
addition to your regular annual audit and we will issue a separate
audit report and a separate set of financial statements which you may
send to the Office of Revenue Sharing in compliance.,with the Revenue
Sharing regulations.:. We will be able to perform th`f `Revenue Sharing
Special Audit at the same time we perform your regular audit and there-
by minimize the additional time and cost.
a
MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
.i�il
January 30, 1974
Page 2
We recommend that you have performed at the time of your annual audit a
Revenue Sharing Special Audit for the following reasons:
(1) Compliance with the suggestions of the Office of Revenue Sharing.
? (2) Minimize audit costs by having this audit performed in conjunction
with your regular annual audit.
(3) Verification that your City has complied fully (in all material
respects) with the requirements of the Revenue Sharing Law and
Regulations.
(4) Have the audit performed by -your auditors rather than by Federal
Auditors.
Because the Revenue Sharing Program is new and we have not had an opportunity
to fully investigate your Revenue Sharing records, we are not in a position
to know exactly what the cost of this audit will be. However, we estimate
that the cost of this audit will be approximately $100.00 to $300.00. Our
fee for this special audit will be billed in accordance with the same fee
schedule as your annual audit. This cost is an allowable expenditure for
Revenue Sharing purposes subject to the normal Revenue Sharing Rules and
Regulations.
If you should decide to have a Revenue Sharing Special Audit, please obtain
an appropriate resolution from your Council and return a copy of this letter
signed by your Mayor and other appropriate City Official.
If you have any questions or would like to review this matter further, please
do not hesitate to call.
Kindest personal regards,
DE LA HUNT VOTO s CO., LTD.
Robert J. Voto, CPA
DE LA HUNT VOTO & CO., LTD.
You are hereby requested and authorized to perform a Revenue Sharing Special
Audit in accordance with the "Audit Guide and Standards for Revenue Sharing
Recipients" and under the terms described above.
BY Z OIC
(May
Clerk
Dater