HomeMy WebLinkAboutKane & Shuck Letter of Understanding City Financial Statements -1986 08 07
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GA.RY D. KANE
R~ALD R. SHUCK
MARIAN L. CARAWAY
JACQUELYN L. HOEFER
SALLY S. HOOFMAN
NANCY E KIMBRELL
BARBARA V RENNARD
CHRISTINE M. THOMAS
KAnE & SHUCK
CERTIFIED PUBLIC ACCOUNTANTS
August 7, 1986
City Commissioners and Mayor
City of Winter Springs
400 North Edgemon Avenue
Winter Springs, FL 32708
Dear Commissioners and Mayor:
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, 1986.
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 accordance with generally accepted auditing
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 exsist. 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, and adusting
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 fiancial
operating policies.
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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
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August 7, 1986
City Commissioners and Mayor
City of Winter Springs
Page 2
Our fee for this examination and the preparation of the Annual
Financial Reports of Units of Local Government and Uniform Trans-
portation Program is estimated at $13,000 - $14,250 which is
approximately 73% 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, 1986 and the performance of interim field work,
we anticipate a December 5, 1986, completion date. A personal
presentation to the City Commission is anticipated for the January
12, 1987, meeting.
We are pleased to have this opportunity to serve you.
I f this letter correctly expresses your understanding, please
sign the enclosed copy where indicated and return it to us.
Sincerely yours,
Si9u;e
Date . '(eu( ~
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KAnE & SHUCK
CERTIFIED PUBLIC ACCOUNTANTS
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CITY OF WINTER SPRINGS, FLORIDA
1126 STATE ROAD 434
WINTER SPRINGS, FLORIDA 32708
Telephone (305) 327-1800
August 27, 1986
Kane & Shuck
Certified Public Accountants
400 N. New York Ave.
Winter Park, FL 32789
Dear Sirs:
Enclosed please find the executed copy of the Agreement for your examina-
tion of the financial statements of the City of Winter Springs for the
fiscal year ending September 30, 1986.
If I may be of any further assistance, please call this office.
Yours very truly,
CITY OF WINTER SPRINGS
Mary T. Norton,
City Clerk
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