HomeMy WebLinkAboutAuditing Services Agreement 1980 AGREEMEI ^=0R AUDI TI NG /ACCOUNTING SERVI C/�11
This agreement by and between the CITY OF OAK PARK HEIGHTS, MINNESOTA,
hereafter referred to as the "City ", and the accounting firm of DE LA HUNT VOTO &
CO., LTD., hereinafter referred to as the "Auditors ", WITNESSETH:
In consideration of their mutual covenants and agreements as hereinafter
set forth, the parties hereto contract and agree as follows:
1.
The Auditors agree to perform an audit of the financial statements and
transactions of the City for the year ended December 31, 1980. Such audit and
examination shall be made in accorance with generally accepted auditing standards
and the minimum audit procedures prescribed by the Minnesota State Auditor pur-
suant to the provisions of M.S.A., Chapter 6. Such audit and examination will
include tests of the accounting records and such other audit procedures as are
considered necessary to enable the Auditors to render an opinion on the fairness
of the City's financial statements. It is not contemplated that the audit will be
a detailed examination of all transactions nor that the audit will necessarily
discover misconduct, should any exist. The Auditors will, however, promptly inform
the City of any findings which appear unusual or abnormal.
2.
The Auditor's report and management comments shall be addressed to the
City Council. Such management comments shall contain specific disclosure and
recommendations with regard to the following:
(a) Non - conformity with policy and procedures prescribed by Council
Action, State Statutes, and /or Federal Rules and Regulations.
(b) Nonconformity to generally accepted governmental accounting
principles.
(c) Defects in accounting policies and procedures that make accounting
and /or auditing time consuming and /or inefficient.
(d) Any failure of the accounting department to prepare and distribute
financial reports required or needed for administrative purpose.
(e) Any other information deemed appropriate of City Council
consideration.
3.
The 1980 Annual Financial Report of the City shall be prepared in accordance
with generally accepted accounting principles and the "Minimum Reporting Requirements -
City Financial Reporting" prepared and issued by the Office of the Minnesota State
Auditor. Should the City require assistance in preparing and compiling its financial
data and records to meet these requirements, the Auditors agree to assist the City
as required and as determined jointly by the Auditors and City Administration.
Fees for such services (if required) shall be billed on the basis of the hourly
rates contained herein, but shall be billed separate from audit fees.
4.
The City herewith engages the Auditors for the work hereinbefore specified
and agrees to pay the Auditors on the basis of:
Partner $50.00 Hour
Audit Supervisor /Manager $38.00 Hour
Staff Auditors:
Senior $28.00 Hour
Semi - Senior $22.00 P Hour
Junior $18.00 @ Hour
Intern $16.00 @ Hour
Statistical Typists and
Report Processors $13.00 @ Hour
Charge per Copy of
Financial Statements $12.00 @ Copy
5 .
The Auditors shall provide the City with detailed statements as to the
classifications and hours worked. Payment of the Auditor's fees shall be made by
the City within thirty days after submittal of an itemized claim correctly showing
the amount due the Auditors.
Claims for payment will be submitted for payment upon completion of the
interim audit; upon completion of the final field work; and upon completion of
the entire audit and submittal of the Annual Financial Report and the Auditor's
Management Comments and Recommendations thereon.
6.
if any circumstances disclosed by the audit and examination call for a more
detailed investigation than would be necessary under ordinary circumstances, such
circumstances will be called to the attention of the City authorities before pro-
ceeding further with such investigation. If authorized to proceed further with an
investigation in this area, compensation for these additional services shall be at
the regular rates designated in this agreement.
IN WITNESS WHEREOF, the City and the Auditors have executed this agreement
the day and year written below.
DE LA HUNT VOTO & CO., LTD. CITY OF 0 K PAR G OF MIN SOTA
Certified Public Accountants
�� A B
By *,�� , v� � � y M'a yo r
Robert J. Iroto, Vice-President R / / 0
Date:
Date:
v
Clerk
Date: