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Defects in accounting policies and procedures that make accounting <br />and /or auditing time consuming and /or inefficient. <br />Any failure of the accounting department to prepare and distribute <br />financial reports required or needed for administrative purpose. <br />Any other information deemed appropriate of City Council <br />consideration. <br />3. <br />The 1979 Annual Financial Report of the City shall be prepared in accordance <br />with generally accepted accounting principles and the "Minimum Reporting Requirements <br />City Financial Reporting" prepared and issued by the Office of the Minnesota State <br />Auditor. Should the City require assistance in preparing and compiling its financial <br />data and records to meet these requirements, the Auditors agree to assist the City <br />as required and as determined jointly by the Auditors and City Administration. Fees <br />for such services (if required) shall be billed on the basis of the hourly rates <br />contained herein, but shall be billed separate from audit fees. <br />4. <br />If any circumstances disclosed by the audit and examination call for a more <br />detailed investigation than would be necessary under ordinary circumstances, such <br />circumstances will be called to the attention of the City authorities before pro- <br />ceeding further with such investigation. <br />If authorized to proceed further with an <br />investigation in this area, compensation for these additional services shall be at <br />the regular rates designated later in this agreement. <br />