2024.04.15 CC Packet - Laserfiche WebLink

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SCOPE APPENDIX to Engagement Letter dated: January 25, 2024 Between the City of Hugo, Minnesota and Baker Tilly US, LLP (Scopev20230309) Page SA - 16 | 18 4. Compensation for continuing disclosure services Fees for continuing disclosure services include the following: a) Full Disclosure - An annual report is required to be prepared by BTMA: (i) A fee of $1,300.00 will be applied to each separate type of debt report required (i.e., general obligation, revenue, etc.); plus (ii) A fee of $200.00 per debt obligation. b) Full Disclosure – The Client’s audited financial statements contain some or all of the required financial and operating data: (i) A fee of $600.00; plus (ii) A fee of $200.00 per debt obligation. c) Full Disclosure – A Final Official Statement previously filed on EMMA can be referenced as containing all the required financial and operating data: (i) A fee of $200.00 per debt obligation. d) Limited Disclosure (i) A fee of $600.00; plus (ii) A fee of $200.00 per debt obligation. In addition to the above, Client shall be responsible for any county auditor certificate fees incurred for the preparation of an annual report. 5. Expenses and Hourly Fees Amounts due BTMA for expenses and services charged at hourly rates shall not be contingent. BILLING PROCEDURES Normally, you will receive a monthly statement showing fees and costs incurred in the prior month. Occasionally, we may bill on a less frequent basis if the time involved in the prior month was minimal or if arrangements are made for the payment of fees from bond proceeds. The account balance is due and payable on receipt of the statement. Nonattest Services As part of this engagement, we will perform certain nonattest services. For purposes of the Engagement Letter and this Scope Appendix, nonattest services include services that the Government Auditing Standards refers to as nonaudit services. We will not perform any management functions or make management decisions on your behalf with respect to any nonattest services we provide. In connection with our performance of any nonattest services, you agree that you will: > Continue to make all management decisions and perform all management functions, including approving all journal entries and general ledger classifications when they are submitted to you. > Designate an employee with suitable skill, knowledge, and/or experience, preferably within senior management, to oversee the services we perform. > Evaluate the adequacy and results of the nonattest services we perform. > Accept responsibility for the results of our nonattest services. > Establish and maintain internal controls, including monitoring ongoing activities related to the nonattest function.