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MMKk <br />CERTIFIED PUBLIC <br />ACCOUNTANTS <br />April 6, 2018 <br />Mr. Mark Beer <br />City of Mounds View <br />2401 Mounds View Blvd <br />Mounds View, MN 55112-1499 <br />Dear Mr. Beer: <br />PRINCIPALS <br />Thomas A. Karnowski, CPA <br />Paul A. Radosevich, CPA <br />William J. Lauer, CPA <br />James H. Eichten, CPA <br />Aaron J. Nielsen, CPA <br />Victoria L. Holinka, CPA/CMA <br />In response to your request of our estimate of audit fees for the City of Mounds View (the City) for the <br />next three years, I provide you with the following: <br />Audit for the year ending December 31, 2018 $34,065 <br />Audit for the year ending December 31, 2019 $34,745 <br />Audit for the year ending December 31, 2020 $35,440 <br />In addition to audit fees, we will bill you for direct expenses incurred for your audit, including third party <br />confirmation charges, printing costs, supplies, and mileage charges. Because the City has produced its <br />own financial statements for several years, those direct expenses have been minimal. Please keep in mind <br />that if the audit takes less time than our estimate, we will only bill the City for the fees incurred. <br />Occasionally, additional audit or accounting work is requested or required due to unusual circumstances, <br />such as major development projects, new debt or refunding debt issues, accounting issues, or indications <br />of potential fraud. Also, new accounting and auditing requirements may impact costs to city audits. If it <br />should become necessary for the City to request the auditor to render any additional service to <br />1) supplement the services requested or perform additional work as a result of the specific <br />recommendations included in any report issued on this engagement, or 2) as a result of new accounting <br />and auditing standards, then such additional work shall be performed only if set forth in an addendum to <br />the contract between the City and the firm. <br />Enclosed are two copies of an engagement letter, which explains and confirms the basic services we <br />expect to perform in conjunction with your upcoming audit. <br />Also enclosed is a copy of our most recent peer review report. <br />Assuming the letter adequately describes those services you desire, please sign both copies, return one <br />copy to our office, and keep the other copy for your files. <br />Malloy, Montague, Karnowski, Radosevich & Co., P.A. <br />5353 Wayzata Boulevard • Suite 410 • Minneapolis, MN 55416 • Phone: 952-545-0424 • Fax: 952-545-0569 - www.mmkr.com <br />