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Home My WebLink About20002258 RESOLUTION RE: APPROVE AUDIT ENGAGEMENT AGREEMENT AND AUTHORIZE CHAIR TO SIGN- ANDERSON & WHITNEY, P.C. WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS,the Board has been presented with an Audit Engagement Agreement between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Anderson & Whitney, P.C., with terms and conditions being as stated in said agreement, and WHEREAS, after review, the Board deems it advisable to approve said agreement, a copy of which is attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Audit Engagement Agreement between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Anderson & Whitney, P.C., be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign said agreement. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 20th day of September, A.D., 2000. BOARD OF COUNTY COMMISSIONERS W LD COUNTY, COLO ADO ATTEST: Barbara irkmeye , Chair Weld County Clerk to r 8P3%IVi� 7BY: �r� 1669 �� c P 4n , 1 M. J. eile, Pro-Tem Deputy Clerk to the N4 1 r �� r d E.Baxter /APPROVED A T Dale K. Hall County-Attar ey EXCUSED DATE OF SIGNING (AYE) Glenn Vaad 2000-2258 FI0031 1001 Ninin Avenue 3ree ley,G lorado 80631-4046 ANdERSON 9701352-7090 • FAX(970)352-1855 V Fort Aniline Line (970)226-052') © ITNE I [Jenne' Line (303)442-8988 rr E-mail Add•eec cpa(v?awhitney ocm September 5. 2000 Board of County Commissioners Weld County, Colorado Greeley, Colorado 80631 Ladies and Gentlemen: This letter will confirm our understanding of the terms and objectives of our engagement and the nature and limitations of the services we will provide. We shall be pleased to discuss this letter with you at any time. AUDIT SERVICE We will audit the general purpose financial statements of Weld County, Colorado, including the Weld County Fair, Weld County Retirement Plan, and Weld County Treasurer's Office as of December 31, 2000 and for the year then ending. Our audit will be made in accordance with generally accepted auditing standards; the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; the Single Audit Act Amendments of 1996; and the provisions of OMB Circular A-133, Audits of States, Local Governments, and Non- Profit Organizations. As such, the audit will include tests of your accounting records and other procedures we consider necessary to enable us to express an opinion that your financial statements are fairly presented, in all material respects, in conformity with generally accepted accounting principles and to report on the Schedule of Expenditures of Federal Awards and on Weld County, Colorado's compliance with laws and regulations and its internal controls as required for a single audit. If our opinion is other than unqualified, we will discuss the reasons with you in advance. Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, tests of physical existence of assets, and direct confirmation with selected customers, creditors, legal counsel and banks. Whenever possible, we will use the personnel of your firm as well as their schedules, reports and correspondence. At the conclusion of our audit, we will request certain written representations from you about the financial statements and related matters. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. Also, we will plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. As required by the Single Audit Act Amendments of 1996, our audit will include tests of transactions related to federal award programs for compliance with applicable laws and regulations. Because of the concept of reasonable assurance and because we will not perform a detailed examination of all transactions, there is a risk that material errors, fraud or other illegal acts may exist and not be detected by us. We will inform you of all matters of fraud and material errors, and all illegal acts, unless they are clearly inconsequential, that come to our attention. We will include such matters in the reports required for a single audit. Our responsibility as auditors is limited to the period covered by our audit and does not extend to any later periods for which we are not engaged as auditors. 2000-2258 ANDERSON & WHITNEY. PC. ♦ CERTIFIED PUELIC ACCOUNTANTS AND BUSINESS AUVISOHS Board of County Commissioners Weld County, Colorado Page 2 September 5, 2000 We understand that you will provide us with the basic information required for our audit and that you are responsible for the accuracy and completeness of that information. We will advise you about appropriate accounting principles and their application and will assist in the preparation of your general purpose financial statements, but the responsibility for the general purpose financial statements remains with you. This responsibility includes the establishment and maintenance of adequate records and related internal controls, the selection and application of accounting principles, arid the safeguarding of assets. Management is also responsible for identifying and ensuring that the entity complies with applicable laws and regulations. Our audit is not specifically designed and cannot be relied on to disclose reportable conditions, that is, significant deficiencies in the design or operation of internal control. However, during the audit, if we become aware of such reportable conditions or ways that we believe management practices can be improved, we will communicate them to you in a separate letter. GENERAL TERMS If you intend to publish or otherwise reproduce the general purpose financial statements and make reference to our firm, you agree to provide us with printers' proofs or masters for our review and approval before printing. You also agree to provide us with a copy of the final reproduced material for our approval before it is distributed. Our fees for these services will be based on the actual time spent at our standard hourly rates, plus out-of-pocket costs. Our standard hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned. Invoices will be rendered each month as work progresses and are payable on presentation. A finance charge is added on balances unpaid from prior months at the rate of 1.5% per month (18% per annum). Based on our proposal our fee should be $66,000 for the audits. Should circumstances arise which would cause us to exceed our estimate, we will discuss the circumstances with you before proceeding further. The working papers for this engagement are the property of Anderson & Whitney, P.C. and constitute confidential information. However, as required by law, regulation, or the terms of the audit contract, we are required to make certain work papers available to State and Federal agencies upon request for their regulatory oversight purposes. Access to the requested work papers will be provided to these agencies under the supervision of Anderson&Whitney, P.C. audit personnel and at a location designated by our firm. It is agreed that any unresolved disputes concerning the quality or timeliness of our services will be submitted to final and binding arbitration conducted under the rules of the American Arbitration Association which pertain to the resolution of claims against accountants. There shall be a single arbitrator, who shall be a member of the Colorado Society of Certified Public Accountants, with a minimum of ten years in practice. The arbitrator shall have authority to award compensatory damages, but only for such damages as found to have been directly and solely caused by acts, errors, or omissions committed in violation of our professional duties. ANDERSON & WHITNEY. P.C. • CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS At vISc RS Board of County Commissioners Weld County, Colorado Page 3 September 5, 2000 Our firm has joined the Private Companies Practice Section and the SEC Practice Section of the Division for CPA Firms sponsored by the American Institute of Certified Public Accountants. This requires that our firm submit itself to a peer review by independent, outside personnel, approved by the AICPA, once every three years. The review team will not be from Colorado and will not disclose any of the information obtained in the review process. The client files selected for review will be on a random basis and will be chosen by the review team. It is our mutual understanding that the review team has permission to examine your files should they be selected for review. We are pleased to serve as your independent certified public accountants and look forward to a continuing pleasant relationship. Please indicate the agreement of the County with the arrangements discussed herein by signing and returning the enclosed copy of this letter using the enclosed envelope. Sincerely, P . C, A&W:meh Enclosure ,. .,. y. .;. .;. This letter correctly sets forth the understanding of Weld County, Colorado. Signature: Date: Title: ANDERSON & WHITNEY, P.C. • CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS ADVISORS Hello