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5 Minutes <br /> <br />Background: <br /> <br />On November 28, 1986, the City sent out a request for proposal (RFP) on audit <br />servioes. The RFT inclu~] bo-~ a single year option and a three year option <br />for engagement of the auditor. By Deoember 12, 1986, seven proposals had been <br />received by the City. The seven proposals were reviewed consistent with the <br />RFP requirements. The first y~r fee for audit services ranged fr~m $8,300 to <br />$12,500. After reviewing the abilities of the firms, the personnel to be <br />assigned to the audit, and the proposed fee schedule, it appeared that three of <br />the firms should be oontacted [or indepth interviews. <br /> <br />At the December 1.6, 1986 City '~ouncil meeting, Council authorized the Finance <br />Officer to interview each of the three firms and to select a firm for performing <br />the 1986 audit. <br /> <br />A two hour interview was ~held '~ith each of the three firm's representatives. <br />On Deoember 23, ]986 the firm ~ Pannell Kerr Forster was notified that they <br />had been chosen as the indepen-~ent auditor for the City. Deloitte, ~askins and <br />Sells, the City's former auditor, was also notified of the change. The <br />following table ¢~mpares 1985 total audit fees with the fees in Pannell Kerr <br />Forster' s propose3: <br /> <br />Deloitte~ Haskins and Sel[s~ 1985: <br /> <br />$11,250 <br /> <br />Pannell Kerr Forster~ 198~ <br /> <br />9,800 <br /> <br />Pannell Kerr Forster~ 198~ <br /> <br />10,300 <br /> <br />Pannell Kerr Forster~ 19~8~ <br /> <br />10,800 <br /> <br />The fees for PKF may be adjm;ted if audit scope is broadened by statutory <br />requirements or if the City si~Jficantly expands financial operations. <br /> <br />On December 29, 3.986 the FinaDoe Officer signed the engagement letter with PKF. <br />PKF has already f~en to the Ciby for field audit work during December 1986. <br /> <br />Mr. Ken Malloy, Partner with Pannell Kerr Forster, will be present at the <br />meeting to represent the firm. <br /> <br />Enclosed for your information is a letter dated December 23, 1986 from Pannell <br />Kerr Forster and a letter da~.ed December 31, 1986 from myself to Deloitte <br />~kins and Sells. <br /> <br />Motion to: <br />Confin~ the selection of PaD~_I Kerr Forster as the independent auditor <br />for the City of Ramsey. <br /> <br />Administrator _~_ Chief of Police <br />Attorney ~_ Finance Officer <br />Engineer _~ Public Works Superintendent <br />C~ty Develotmm_nt Director _-~ Other <br /> <br /> <br />