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REVIEW PI~OPOSED ENGAGEMENT LETTERS FOR 1994 <br /> CITY AND FIRE RELIEF ASSOCIATION <br /> By: Jessie L. Hart, Finance Officer <br /> <br />CASE # <br /> <br />AUDIT WORK - <br /> <br />Background: <br /> <br />State Statutes req[uire an annual audit by an independent auditor. The firm of Malloy, Montague, <br />Karnowski, RadO~sevich & Company PA have performed the audit for the City of Ramsey and <br />Ramsey Fire Fighter's Relief Association for a number of years. Attached are their proposals to <br />perform the 1994 iaudit. <br /> <br />The fees for both ~audits have remained substantially the same as compared to the prior year. This <br />is due to their sta[fs familiarity with the City and its operations as well as the fact that City Staff <br />now prepares the ivast majority of the working papers and the reports. The proposed fees for the <br />1994 audit are submitted as not-to-exceed prices and will be reduced if the work City staff does <br />reduces the work ~'equired on the auditors part. The fees are proposed at $13,625 for the City audit <br />and $1,200 for th~ Relief Association. <br /> <br />It is necessary to $ddress this issue at this time so that the firm and the City have adequate time to <br />plan and prepare for the actual audit. <br /> <br />Staff Recommendation: <br /> <br /> ; <br />Staff recommend~ approval of the attached engagement letters for 1994 auditing services. <br /> <br />Committee Act!on: /. <br /> <br />Recommend to C~uncll the approval of Resolunon Authorizing 1994 Audmng Services and direct <br />the Finance Offic~er to sign and forward the engagement letter to the auditing firm of Malloy, <br />Montague, Karno~vski, Radosevich & Company PA. <br /> <br />Review Checklist: <br /> <br />City Administrator <br />Finance Officer <br /> <br />FC: 10/25/94 <br /> <br /> <br />