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HomeMy WebLinkAboutKane & Associates (3) -1987 08 07 " KAnE & ASSOCIATES CERTIFIED PUBLIC ACCOUNTANTS GARY D. KANE CHRISTINE T. HENNS JACQUELYN L. HOEFER NANCY F. KIMBRELL BARBARA V. RENNARD SALLY A. SCALA August 7, 1987 City Commissioners, Mayor and City Manager City of Winter Springs 1126 E. State Road 434 Winter Springs, FL 32708 Dear Commissioners, Mayor and City Manager: This will confirm our understanding of the arrangements for our examination of the financial statements of the City of Winter Springs for the fiscal year ending September 30, 1987. We will examine the City's financial transactions, accounts and reports as well as perform an evaluation of the City's compliance with applicable state and local laws and regulations. Our exami- nation will be in accordane'e with generally accepted audi ting standards and will include such auditing procedures as we consider necessary to accomplish this purpose. These procedures will include tests by statistical sampling, where feasible, of documentary evidence supporting the transactions recorded in the accounts. In addition, confirmations with legal counsel, banks, customers and tax and fee collectors will be part of the audit engagement. Although defalcations and similar irregularities may occasionally be disclosed by this type of examination, it is not designed for this purpose and should not be relied on to disclose fraud, should any exist. However, if anything appears to us during our examination to be unusual or abnormal, we will report it to you immediately. We will issue a management letter at the conc 1 usion of our audit which is intended to assist the City 's officers and administration in the efficient and economical performance of their duties. Further, we will prepare the Annual Financial Report of Units of Local Government including a management letter, the Annual Financial Report - Uniform Transportation Program, the Annual Financial Report required for State Grant 767-040 (Step 2 & 3 Grant), and adjusting journal entries for general ledger posting. We will also be available during the year to consult with you on the effects of any proposed transactions or contemplated changes in financial operating policies. _ n MfMB~R M~~RJc;(I_~J!!...~!2TUTE OF CERTIFIED ACCOUNTANTS. FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS ')?') ,^,r::C::T ,...rtkA~Tr\""'V ^"I':'I\.IIIr-... ("".,T'" "'''n.. ,,,,.toIT.-,", """"",, .-. --.-. ........-....- .-...-. -.. ---- ,1.. ~ August 7~ 1986 City Commissioners, Mayor and City Manager City of Winter Springs Page 2 Our fee for this engagement is estimated at $15,750 which is approximately 85% of our standard per diem rates. Invoices will be rendered semi-monthly during the engagement and are payable upon presentation. Based upon receiving the City's completed financial records by November 1, 1987, and the performance of interim field work, we anticipate a December 5, 1987, completion date. A personal presentation to the City Commission is anticipated for the January 11, 1988, meeting. We are pleased to have this opportunity to serve you. If this letter correctly expresses your understanding, please sign the enclosed copy where indicated and return it to us. Sincerely yours, JLH/tpw En ~ AP Signature ~ft1/;f J S' {I C;,y 7 Date I KAnE & ASSOCIATES CERTIFIED PUBLIC ACCOUNTANTS