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13 <br />City of St. Anthony, Minnesota <br />Proposal to Provide Audit Services <br />September 22, 2005 <br />Page 4 <br />Financial Statement Preparation <br />The preparation of the Comprehensive Annual Financial Report (CAPR) is included <br />in our proposal. CAPR's are lengthy documents which require complex reconciliations <br />and footnote disclosures. Many of the cities we audit request assistance from us with <br />drafting financial statentents and related notes. This is a common practice and an <br />allowable nonaudit service under the AICPA Ethics Interpretation 101-3. The City has <br />the option of preparing the CAFR in-house or with the assistance of another third party, <br />however using the auditor for CARR preparation should result in the most cost-effective <br />service. <br />Proposed Fee <br />We propose to complete the services described above as follows: <br />One year proposal: <br />Thice year proposal: <br />2008 2009 2010 <br />Audit services 1137.500 $38.6.50 .9139,825 <br />Nonaudit services: <br />CAIT preparuion 0000 7200 7,400 <br />'Ibtal y;44500 $4,),850 $47,225 <br />2008 <br />Audit services <br />137,500 <br />Nonaudit services. <br />CAPR preparation <br />7.000 <br />Total <br />$44.500 <br />Thice year proposal: <br />2008 2009 2010 <br />Audit services 1137.500 $38.6.50 .9139,825 <br />Nonaudit services: <br />CAIT preparuion 0000 7200 7,400 <br />'Ibtal y;44500 $4,),850 $47,225 <br />