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HomeMy WebLinkAboutCity of Tamarac Resolution R-87-2401 2 3 4 5 8 9 10 11 22 13 14 15 16 17 20 21 22 23 24 25 26 27 28 29 30 ,I[ 32 33 34 35 36 Introduced by: A/�%Temp. Reso. 44704 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-87- ­2- A RESOLUTION APPROVING AND AUTHORIZING THE AP- PROPRIATE CITY OFFICIALS TO EXECUTE A LETTER OF ENGAGEMENT WITH TOUCHE ROSS & CO. PERTAINING TO AUDITING SERVICES FOR FISCAL YEAR 1986/87 AND PROVIDING_ AN_ EFFECTIVE DATE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: That the City Council of the City of Tamarac hereby approves a Letter of Engagement between the City of Tamarac and Touch Ross & Co., pertaining to auditing services for fiscal year 1986/87 attached hereto and made a part hereof as Exhibit "A"; , SECTION 2: That the appropriate City Officials are hereby authorized to execute said Letter of Engagement. SECTION 3: This Resolution shall become effective immediately upon adoption. PASSED, ADOPTED AND APPROVED this o2day of , 1987. ATTEST: a�� 9 _ A CAROL E. BARBUTO CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. RI9WO�1EY MAYOR: HART DIST. 1: C/M ROHR DIST. 2: C/M STEIZER DIST. 3: C/M HOFFMAN DIST, 4: V/M STEIN I-1 I —A 0- Touche Ross & Co. Certified Public Accountants 600 Corporate Drive Suite 510 Fort Lauderdale, FL 33334-3637 Telephone: 305 462-2003 June 19, 1987 The Mayor and Members of the City Council City of Tamarac 5811 N.W. 88 Avenue Tamarac, Florida 33321 Dear Mayor and Council Members: t� e5o. O Touche Ross We are pleased to continue to serve as independent accountants for the City of Tamarac, Florida for the year ended September 30, 1987. Mr. I. Stanley Brooks will be the partner in charge of all work we perform for you. Mr. Mark Wolfson, an audit supervisor, will continue to be assigned to your work. Examining and reporting on your annual financial statements is to be our recurring basic assignment. We would like also to be helpful to you on current problems as they arise throughout the year. Hence, we hope you will call Mr. Brooks or Mr. Wolfson whenever you feel they can be of assistance. It will be the responsibility of Mr. Brooks and Mr. Wolfson to make sure that your management receives good service. They will, as desirable, call upon other individuals with specialized knowledge, either in this office or elsewhere in our firm. The purpose of our engagement is to examine the City's general purpose financial statements for the fiscal year ended September 30, 1987, and evaluate the fairness of presentation of the statements in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding period. Our examination will be conducted in accordance with generally accepted auditing standards, and the rules of the Auditor General, State of Florida, and will include a review of the system of internal control and tests of transactions to the extent we believe necessary. Accordingly, it will not include a detailed audit of transactions to the extent which would be required if intended to disclose defalcations or other irregularities, although their discovery may result. Touche Ross International Lk 0'a4-D k�. oo, 4 Touche Ross The Mayor and Members of the City Council June 19, 1987 Page 2 We direct your attention to the fact that management has the responsibility for the proper recording of transactions in the books of account, for the safeguarding of assets, and for the substantial accuracy of the financial statements. Such statements are the representations of management. The objective of our examination is the expression of an opinion on the City's general purpose financial statements. Our ability to express that opinion and the wording of our opinion will, of course, be dependent on the facts and circumstances at the date of our report. If our opinion will be other than unqualified, the reasons therefor will be fully disclosed. We will prepare, as a normal part of our examination, a letter of recommendations including comments on deficiencies we have observed in internal controls and possible ways to improve the efficiency of your operations. It is also our practice to discuss our comments on such matters with the appropriate level of management. In order for us to complete the audit work and audit report by December 31, 1987, the City's books and records should be closed for the year ended September 30, 1987, with substantially all necessary journal entries being made to the books by the finance department by November 17, 1987. We expect to begin interim work during July or August and will continue intermittently up to the time the City's books and records are closed. Our year-end procedures will take approximately three to five weeks. We will then expect to have a draft within one week thereafter. Assistance is to be supplied by your personnel, including the preparation of schedules and analyses of accounts. Timely completion of this work will facilitate the conclusion of our examination. Our fees are based on the amount of time required at various levels of responsibility, plus actual out-of-pocket expenses (travel, typing, telephone, etc.), payable upon presentation of our invoices. Total fees for this engagement will be $28,800. OTouche Ross The Mayor and Members of the City Council June 19, 1987 Page 3 If the foregoing is in accordance with your understanding, please sign and return to us one of the copies of this letter. We appreciate. this opportunity to serve you and trust that our association will be a long and pleasant one. Very truly yours, /;�� ee*-� Y-- �;'. Certified Public Accountants Accepted: CITY Of—TAMARAC th