O-2001-2521 - Laserfiche WebLink

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e e Honorable Mayor and City Council, Audit Committee and Management City of La Porte, Texas October 1,2001 Page 6 may intend, or decide, to distribute the photocopies or infomlation contained therein to others, including other governmental agencies. The workpapers for this engagement will be retained for a minimum of three years aHer the date the auditors' reports are issued or for any additional period requested by the an appropriate governmental regulatory agency. If we are aware that a federal awarding agency, pass-through entity, or the City is contesting an audit finding, we will contact the party(ies) contesting the audit finding for guidance prior to destroying the workpapers, We expect to begin our audits and to issue our reports in accordance with time frames acceptable to the City's management as determined at the outset of our work. Our estimated annual fees for these services will be at our standard hourly rates plus out-of-pocket costs (such as postage, travel, copies, telephone, etc.) as more fully described in our proposal document dated July 31, 200 I arc as follows: Services to be Provided Financial statement audit La Porte Area Water Authority audit and reporting Federal Single Audit procedures and reporting Fees Not to Exceed $ 28,750 5,000 6,000 Our standard hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to your audits. Our invoices for these fees will be rendered each month as work progresses and are payable on presentation. The above estimated fees are based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered during the audits. If significant additional time is necessary, we will discuss it with you and arrive at a new fee estimate before we incur the additional costs, Government Auditing Standards require that we provide you with a copy of our most recent quality control review report. Our 1998 peer review report has been provided for your review.