Agenda - Council - 09/24/1996 - Laserfiche WebLink

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Bo Co REQUEST FOR PROFESSIONAL AUDIT SERVICES CITY OF RAMSEY, MINNESOTA The auditor will express a written opinion on the combined financial statements, combining individual funds and account groups. The auditor will perform a financial and compliance review/audit of the Ramsey Fire Fighter's Relief Association necessary to meet State of Minnesota requirements. The audit examination shall result in financial statements prepared in conformity with generally accepted accounting principles for local governments as determined by the GASB, the AICPA Industry Audit Guide for State and Local Governments. The audit shall also meet the minimum audit procedures prescribed by the Minnesota State Auditor pursuant to the provisions of MSA Chapter Six, the Single Audit Act of 1984 and OMB Circular a-I28. Timetable A joint planning meeting between city staff and the auditor will be held prior to November 30 of each year to establish target dates and work schedules for completion of the financial audit. The final audit report must be rendered no later than may 15, or within six weeks following completion of the City's work papers and account analysis. Reports 1. The year-end report must include: - Comprehensive Annual Financial Report [CAFR] - Management Report or Letter The Comprehensive Annual Financial Report format w/il be based upon the guidelines established for the Government Finance Officers Association [GFOA] Certificate of Achievement Program. 3, The City will be responsible for the final printing of ali financial reports. The CPA firm will meet with the Finance Officer for the purpose of reviewing its audit findings and recommendations prior to the issuance of the CAFR and management report or letter. I I I I I' I I I I I I I I I I