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JUL-ii-1995 15:37 MMKR <br /> <br />&COP.A. <br /> <br />EXHIBIT <br /> <br />B <br /> <br />612 545 8569 P.02/03 <br /> <br />PRINCIPALS <br />KENNETH W. MALLOY, CPA <br />THOMAS M. MONTAGU;;, CPA <br />THOMAS A, KARNOWSKI, CPA <br />PAUL A. RADOSEVlCH, CPA <br /> <br />July 11, 1995 <br /> <br />Mr. Ryan R. Schroeder <br />City Administrator <br />City of Ramsey <br />15153 Nowthen Boulevard NW <br />Ramsey, MN 55024 <br /> <br />PRELIMINARY DRAFT <br /> ~ ~ ~d Di~cu~loo <br /> -- -- <br /> <br />Dear Mr, $chrocder: <br /> <br />This letter is to explain our understanding of the arrangements for the agreed-upon procedures we are to <br />perform for the City of Ramsey. We ask that you either confirm or amend that understanding. <br /> <br />You have requested that we review certain City records to evaluate if there are potential conflicts of <br />interest concerns involving the Mayor and his relationship with North East State Bank. The procedures would <br />include a review of certain records including cash related documents, Council minutes, and City resolutions. <br />The period covered by this review would be from Janumy 1, 1991 to the date the fieldwork would be performed. <br /> <br />We will provide a report to the City detailing the results of these procedures. <br /> <br />Our fees for these services will be based on the actual time required by the individuals assigned to the <br />engagement at our standard hourly rotes, plus tmveI and other out-of-pocket costs such as report production, <br />typing, postage, etc. Our standard hourly rates vary according to the degree of responsibility involved and <br />the experience level of the personnel assigned to your engagement. Our invoices for these fees will be <br />rendered each month as work progresses and are payable upon presentation. <br /> <br />We estimate our fees to complete this project will be at $75 an hour and should not exceed a total of $1,500, <br />plus travel and other out-of-pocket costs. This estimate includes only the procedures detailed above. If in <br />performing thesepmcedures, unanticipated complications or areas which may warrant performing additional <br />procedures outside the scope of this engagement arise, we will bring them to your attention and proceed only <br />with your approval. <br /> <br />I will be in charge of the work to be performed for you. I will call upon others in the Firm for help and <br />counsel, as necessary. <br /> <br />410 PARK NATIONAL ~,~N K BUILDING <br />5353 WAYZATA BOULEVARD <br />MINN F-..APOL ~, MINNESOTA 55416 <br />'I'ELEPHONI;: 612 -545-0424 <br />"rELEFAX; ~12.545,.0569 <br /> <br /> <br />