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Audit Proposal <br />Page 2 <br />2. The proposed fee schedule (for the next five years) is reasonable and does not exceed the fees incurred by <br />other cities of our size. <br />3. A full-blown RFP process is time intensive and there are no guarantees that the lowest bidder will not exceed <br />the fees quoted by Smith Schafer & Associates. <br />4. Smith Schafer & Associates regularly rotates the personnel involved in the fieldwork, review, and final <br />preparation of the Comprehensive Annual Financial Reports. This ensures that each audit is unique and not of a <br />routine nature. <br />5. Appointing anew audit firm will double the amount of time the Finance Department spends on the audit <br />process. The staff would rather concentrate on capital planning and other areas of municipal finance rather <br />than re -inventing the wheel with another auditing firm. <br />Please place this item on the consent agenda for the August 21, 2017 City Council meeting. <br />ATTAC H M E NTS <br />Proposal Submitted by Smith Schafer & Associates <br />