Agenda Packets - 1989/08/28 - Laserfiche WebLink

Home Browse Search

Don Brager, Finance Director City of Mounds View Page 2 A compilation of financial projections is limited in the form of projected financial schedules, assumptions and estimates that are the representation of the City. We have not reviewed the accompanying projected balance sheets nor the projections of revenue and expenses and changes in retained earnings and changes in financial position and accordingly, we do not express an opinion or any other form of assurance on them. Furthermore, we express no opinion on the projections or how closely they will coaespond with actual results. This report is intended for the use in connection with the City's analysis of water and sewer utility rates and operations and should not be used for any other purpose. We have no responsibility to update this report for events and circumstances occurring after the date of this report. Our fee for this engagement is estimated at $8,500 based on the following schedule: Partner 40 Hours @ $74.00 $ 2,960 Manager 50 Hours @ $55.00 2,750 Other Professional Staff (average) 50 Hours @ $40.00 2,000 Statistical Typists and Report Processors 40 Hours @ $19.00 760 Total $ 8.470 The above estimate has been prepared based upon our knowledge of the City and past experience :n preparing such reports. Should our actual hours be less than the estimated hours, you will be billed the lesser amount, based upon actual hours. We agree to limit our fee to an amount not to exceed the above estimate of $8,500. We would be available to prepare the utility rate study in fall of 1989. We will require various information from the City as follows: 1) Copies of resolutions Ahich authorize current water and sewer utility rate charges. 2) Copies of resolutions which authorize prior utility rate charges (we may have most of these resolutions contained in audit files; however, we may require research by City staff to provide copies of such resolutions). 3) With regard to proposed rate changes, a definition provided by City staff of objectives in evaluating possible changes to the utility rate structure (i.e., description, of concerns regarding the current system and possible changes for and improved rate structure). 4) Information from City staff and/or the City's consulting engineer regarding system capacity and possible/probable additions to the core system which will be required for the ensuing five year period. If this data is not available, we could Prepare projections under less refined estimates of future additions. Please advise ® us accordingly.