Agenda - Council - 12/12/1995 - Laserfiche WebLink

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I '1 I I I I I I I I I I I I I I I I I CASE REVIEW PRO.pOSED ENGAGEMENT LETTERS FOR 1995 AUDIT WORK - CITY AND FIRE RELIEF ASSOCIATION By: Jessie L. Hart, Finance Officer Background: State Statutes requ~'re an annual audit by an independent auditor. The firm of Malloy, Montague, Kamowski, Rados~ :vich & Company PA have performed the audit for the City of Ramsey and Ramsey Fire Fight, ',r's Relief Association for a number of years. Attached are their proposals to perform the 1995 a~ dit. The fees for both ~udits have remained substantially the same as compared to the prior year. This is due to thei~ Staffs familiarity with the City and its operations as well as the fact that City Staff now preparesi the vast majority of the working papers and the reports. The proposed fees for the 1995 audit ge submitted as not-to-exceed prices and will be reduced if the work City staff does reduces the ~ork required on the auditors part. The fees are proposed at $13,850 for the City audit (compared to $13,625 for 1994) and $1,250 (compared to $1,200 for 1994) for the Relief Association. It is necessary to atitdress this issue at this time so that the fn-m and the City have adequate time to plan and prepare!for the actual audit. ; Staff RecommendStion: Staff recommends a~pproval of the attached engagement letters for i 995 auditing services. Council Action: Motion to adopt Resolution Authorizing 1995 Auditing Services and direct the Finance Officer to sign and forwar4 the engagement letter to the auditing firm of Malloy, Montague, Kamowski, Radosevich & Corr/.j~any PA. Review Checklist: City Administrator Finance Officer CC: 12/12/95