25D - AGMT - FINANCIAL AUDIT SRVS

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indications of illegal acts to the City's staff and City Council. Also, professional standards require that we communicate other information specifically related to the audit engagement. We will ensure that our communications to the City Council meet these requirements. We are proud of our record of being well-informed with regard to the government sector and the changes in auditing standards that may occur throughout the course of providing audit services to our clients. MGO's professionals continue to have a presence in both State and federal levels of government, as well as at the regional level. We will acquire prompt and pertinent responses to inquiries that may arise from a technical or procedural standpoint, over the development of our engagement with the City. Our liaison relationship with GASB, the AICPA, GFOA and ASB will allow us to obtain precise, relevant information necessary to provide exceptional communication and audit services to you. • State Controller Reports: We will prepare and submit the State Controller's Report for the City and, if required by the State Controller's Office, for the former RDA for fiscal year June 30, 2012 by the annual required submission date of the State Controller's Office. If required, MGO is prepared to also prepared to submit State Controller Reports of the former RDA for the three succeeding years. • Property Based Improvement District/Orange County Fire Authority. Upon request by the City, we will review operations of the Property Based Improvement District (PBID) and Orange County Fire Authority, according to the agreement between the City and and each of the entities specified in the agreements. • Bond Disclosures Attestation: We will prepare and shall review and attest to the bonds continuing disclosure requirements. We will perform various procedures agreed to by the City Council and the City Management solely to assist the City in determining whether the City is in compliance with the required continuing disclosures. The agreed-upon procedures will be performed in accordance with attestation standards established by the American Institute of Certified Public Accountants. • City's Operational Audits: We understand the constraints of available City resources and the need to maintain segregation of key duties and responsibilities. We will work closely with Finance and Management Services Department, in addition to the regular annual audit, to determine procedures in testing internal controls over the following areas as outlined in the Request for Proposal: • Accounts payables (including Public • Work construction progress payments and relocation disbursements) • Payroll • Treasury investments • Utility billing and accounting functions • Purchasing • Workers compensation claims • Attendance at City Council and Other Meetings: MGO's representatives shall attend meetings of City Council, or its committees, primarily meetings of the Audit and Ethics Committee, whenever requested by City. • Availability: Throughout the year you and your staff should feel comfortable calling us for advice. We should be viewed as another resource available to you in carrying out your financial and administrative duties. We will contact City staff throughout the year to discuss how current accounting pronouncements may affect your accounting or financial reporting. We believe our ability to quickly respond to your needs and to keep you informed should be a significant consideration in selecting us as your auditors. Please verify our level of service and the availability of MGO with the references provided below. Our staff is, of course, available to provide accounting, auditing or consulting services throughout the year. Workpapers: All workpapers will be retained by MGO for at least seven (7) years from the date the audits are finalized and such workpapers will be made available for review during normal business hours to representatives of the City, and applicable Federal and State agencies. • Additional Assistance: We will also perform the following tasks: • Provide up to 20 additional consulting hours on accounting and technical matters throughout the years including in-house training on newly adopted GASB pronouncements. • Provide assistance to the City in continuing to meet the requirements of the GFOA of the United States and Canada Certificate of Achievement for Excellence in Financial Reporting program. • Keep the City advised of new and national developments affecting municipal finance, reporting and trends. • Be available year-round to advise the City on various financial issues. • Invite representatives of the City to MGO's annual client technical updates and trainings. • If the City requests, we are available to perform a "consent review" and issue a "consent and citation of expertise". We have provided such services for numerous other clients, including the Alameda County Water District, Contra Costa Water District, and County of Orange County. eroaaso$sortnme,?ac 25 25D-15