12-09-1992 Council Agenda - Laserfiche WebLink

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II. The Auditor's report and management comments shall be addressed to the City Council. Such management comments shall contain specific disclosure and recommendations with regard to the following: (a) Non - conformity with policy and procedures prescribed by Council Action, State Statutes, and/or Federal Rules and Regulations. (b) Non - conformity to generally accepted governmental accounting principles. (c) Defects in accounting policies and procedures that make accounting and/or auditing time consuming and/or inefficient. (d) Any failure of the accounting department to prepare and distribute financial reports required or needed for administrative purpose. (e) Any other information deemed appropriate of City Council consideration. III. The 1992 Annual Financial Report of the City shall be prepared in accordance with generally accepted accounting principles and the "Minimum Reporting Requirements - City Financial Reporting" prepared and issued by the Office of the Minnesota State Auditor. Should the City require assistance in preparing and compiling its financial data and records to meet these requirements, the Auditors agree to assist the City as required and as determined jointly by the Auditors and City Administration. Fees for such services (if required) shall be billed on the basis of the hourly rates contained herein, and shall be billed separate from audit fees. IV. The City herewith engages the Auditors for the work hereinbefore specified and agrees to pay the Auditors on the basis of: Partner $88.00 per hour Supervisor $67.00 per hour Senior $55.00 per hour Semi - Senior $45.00 per hour Junior $37.00 per hour Statistical Typists and Report Processors $23.00 per hour Charge per Copy of Financial Statements $18.00 per copy Page 62