HomeMy WebLinkAboutKane & Shuck Letter of Understanding Enterprise Fund -1985 07 30
GARY D. KANE
RONALD R. SHUCK
JANET LANE BERNER
MARIAN L. CARAWAY
JACQUELYN 1. HOEFER
SALLY S. HOOFMAN
NANCY F. KIMBRELL
BARBARA V. RENNARD
CHRISTINE M. THOMAS
KAne & SHUCK
CERTIFIED PUBLIC ACCOUNTANTS
July 30, 1985
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I'.UG 7 1965
City Commissioners and Mayor
City of Winter Springs
400 North Edgemon Avenue
Winter Springs, FL 32708
CITY of WINTH/ S?RiNGS
.CITY MANAGER
Dear Commissioners and Mayor:
This will confirm our understanding of the arrangements for
our examination of the financial statements of the utility operations
(Enterprise fund) of the City of Winter Springs for the fiscal
year ending September 30, 1985.
We will examine the City's Enterprise fund financial transactions,
accounts and reports as well as perform an evaluation on compliance
with applicable state and local laws and regulations and applicable
bond covenants. Our examination will be in accordance with
generally accepted auditing standards and will include such
audi ting procedures as we consider necessary to accomplish this
purpose.
These procedures will include tests by statistical sampling,
if feasible, of documentary evidence supporting the transactions
recorded in the account s . In addition, correspondence with
legal counsel and banks 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.
The report on the Enterprise fund will be incorporated into
the City's Financial Statements and the Annual Financial Report
of Units of Local Government.
MEMBER AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS. FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
400 N. NEW YORK AVENUE. WINTER PARK. FLORIDA 32789 . (305) 644-6066
City Commissioners and Mayor
City of Winter Springs
Page 2
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Our fee for this examination will be at our regular per diem
rates with the fee estimated at $3,000. Invoices will be rendered
periodically during the engagement and are payable upon presentation.
Based upon receiving the City's completed financial records
for the Enterprise fund by November 1, 1985, and the performance
of interim field work, we anticipate a December 1, 1985, completion
date.
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,
Ronald R. Shuck
Partner
KAnE & SHUCK
CERTIFIED PUBLIC ACCOUNTANTS
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CITY OF WINTER SPRINGS, FLORIDA
400 NORTH EDGEMON AVENUE
WINTER SPRINGS. FLORIDA 32708
Telephone (305) 327-1800
August 15, 1985
Mr. Ronald R. Shuck
Kane & Shuck, CPAs
400 N. New York Avenue
Winter Park, Florida 32789
Dear Mr. Shuck:
Enclosed please find an executed copy of the agreement for the
examination of the financial statements of the utility operations
(Enterprise fund) of the City of Winter Springs for the fiscal year
ending September 30, 1985.
If there is any further information you may need, please call
this office.
Yours very truly,
CITY OF WINTER SPRINGS
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Mary T. Norton,
City Clerk
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