25F - FINANCIAL AUDIT SERVICES - Laserfiche WebLink

Home Browse Search

Ms. Pamela Arends-King Assistant Director of Finance and Management Services City of Santa Ana Apri121, 2008 Page 7 oversight agency for audits. At the conclusion of the engagement, we will provide information to management as to where the reporting packages should be submitted and the number to submit. The audit documentation for this engagement is the property of Macias Gini & O'Connell LLP. and constitutes confidential information. However, pursuant to authority given by law or regulation, we may be requested to make certain audit documentation available to Federal Oversight Agencies or its designee, a federal agency providing direct or indirect funding, or the U.S. Government Accountability Office for purposes of a quality review of the audit, to resolve audit findings, or to cazry out oversight responsibilities. We will notify you of any such request. If requested, access to such audit documentation will be provided under the supervision of Macias Gini & O'Connell, LLP. personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies. The audit documentation for this engagement will be retained for a minimum of seven years after the report release date or for any additional period requested by the Granting Agency or required by law or regulation. If we are awaze that a federal awazding agency, pass-through entity, or auditee is contesting an audit finding, we will contact the party(ies) contesting the audit finding for guidance prior to destroying the audit documentation. The City and Agency State Controller's Reports will be prepared by us and provided to the City prior to their applicable due dates. Our fees for these services will be at the hourly rates listed below plus out-of-pocket costs (such as word processing, postage, travel, etc.) except that we estimate that our gross fee, including expenses, will not exceed $132,625 for the fiscal year ending June 30, 2008. This includes $94,100 as noted in our original contract agreement dated May 5, 2006. -The fee increase from the original contract is due the implementation of new auditing standazds (SAS 104-111) that require additional consideration and documentation by the auditors plus an additional $15,000 for us to assist in the prepazation of the trial balance working spreadsheets and prepaze the City CAFR. Our hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to your audit. Our invoices for these fees will be rendered each month as work progresses and are payable on presentation. The above fees are based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered during the audit. If significant additional time is necessary, we will discuss it with you and arrive at a new fee estimate before we incur the additional costs. 25F-13