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Mr. .Thomas D. Burt City of St. Anthony December 7, 1989 Page Two I will report to you any material internal control weaknesses noted during the audit. I also will submit any significant ideas or observations I believe will help achieve objectives of the City or improve efficiency in operations. I will be pleased to respond to inquiries you might have about accounting, financial or other business matters. I wish to assure you that the report on the audit of the financial statements of the City of St. Anthony will be submitted on a timely basis, sufficiently in advance of required deadlines so that an opportunity for review, analysis and discussion will exist. Assistance to be provided by City personnel , including the preparation of schedules and analyses of accounts, will be discussed and coordinated with you. Completion of this work will facilitate completion of the audit in a timely manner. Fees are based on the time required to complete the engagement, plus out-of- pocket expenses. Professional rates vary according to the degree of responsi- bility and the level of expertise and training of individuals assigned to the audit. The estimate of fees is based upon the assumption that circumstances which would cause a material extension of required audit procedures would not be encountered. If such were the case, the City would be consulted with before performing such additional procedures. 40 Assuming adequate cooperation and assistance from City personnel , I estimate that fees for the audit of the City for the year ending December 31 , 1989 will not exceed $9,950. This estimate does not include costs of performing an audit in accordance with provisions of the Single Audit Act of 1984 con- cerning Federal financial assistance programs. If such work or other special work beyond the audit is required, I will discuss the fees and timing of such work with you before commencing the work. I believe this letter summarizes the significant terms of our agreement, if you have any questions please contact me. If these arrangements are in accordance with your understanding, please sign the original letter in the space provided below and return it i.n the enclosed envelope. I appreciate the opportunity to be of service to you again. Sincerely, Stuart J. Bonniwell , C.P.A. Accepted: This letter correctly sets forth the under- standing of the City of St. Anthony, Minnesota. By: • Title: