Provisions of Engagement Administration, Timing, and Fees
During the course of the engagement, we may communicate with you or your personnel via fax
or e-mail, and you should be aware that communication in those mediums contains a risk of
misdirected or intercepted communications.
Edward J. Boyd, Jr, CPA is the engagement principal for the audit services specified in this letter,
Those responsibilities include supervising the City’s services performed as part of this
engagement and signing or authorizing another qualified firm representative to sign the audit
report.
Our fees are based on the amount of time required at various levels of responsibility, plus actual
out-of-pocket expenses. Invoices will be rendered monthly and are payable upon presentation.
Our fees for audit services for June 30, 2020 - 2021 will be $122,500 and $125,000, respectively.
We will notify you immediately of any circumstances we encounter that could significantly affect
this initial fee estimate. Whenever possible, we will attempt to use the City’s personnel to assist
in the preparation of schedules and analyses of accounts. This effort could substantially reduce
our time requirements and facilitate the timely conclusion of the audit. Further, we will be
available during the year to consult with you on financial management and accounting matters
of a routine nature.
You agree to inform us of facts that may affect the basic financial statements of which you may
become aware during the period from the date of the auditor’s report to the date the financial
statements are issued.
Other Services
We will assist in compiling the financial statements, including note disclosures, and preparing the
government-wide financial statements (by consolidating various funds into governmental activities,
and recording all long-term assets, long-term liabilities, and net position classifications from infor-
mation provided by the City}.
We will also assist in the compilation of the following information based on information gathered
during the audit process:
e Management’s Discussion and Analysis
e Data Collection Form
With respect to any nonattest services we perform, which may include assistance with the com-
pilation of financial statements, the City’s management is responsible for (a} making all
management decisions and performing all management functions; (b) assigning a competent
individual to oversee the services; (c) evaluating the adequacy of the services performed;
