HomeMy WebLinkAbout951536.tiffRESOLUTION
RE: APPROVE AUDIT ENGAGEMENT AGREEMENT WITH ANDERSON & WHITNEY, P.C.,
AND AUTHORIZE CHAIRMAN TO SIGN
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 Chairman 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 2nd day of August, A.D., 1995.
Clerk to the Board
tuna
Deputy Clerthe Board
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLOIjADO
Dale K. Hall, Chairman
arbara J. Kirkmeyer; Rro-Tem
EXCHSFf1 DATF C)F SIC;NINC;
George E. Baxter
Constance L. Harbert
W. H. Webster
(AYF)
(1' ; Pi; /go; AA)
951536
FI0020
ANDERSON & WHITNEY, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
1001 North Avenue
Greeley. Colorado 80 631 4046
(303) 352-7990 FAX 13031 352-1855
Fort Collins Lino (3031 226-0525
Denver Line (3031 4-12-8988
Weld County, Colorado
915 Tenth Street
Greeley, Colorado 80631
ANdERSON
WhITNEy
July 25, 1995
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 will audit the general purpose financial statements of Weld County, Colorado as of
December 31, 1995 and for the year then ending.
Our audit will be a Single Audit conducted 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 of 1984; and the provisions of
OMB Circular A-128, Audits of State and Local Governments, and will include tests of the
accounting records of Weld County, Colorado, and other procedures we consider necessary to enable
us to express an unqualified opinion that the financial statements are fairly presented, in all material
respects, in conformity with generally accepted accounting principles and to report on the Schedule
of Federal Financial Assistance and on Weld County, Colorado's compliance with laws and
regulations and its internal controls as required for a Single Audit.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures
in the fmancial 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 financial statements are free of material misstatement.
However, 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, irregularities or illegal acts,
including fraud or defalcations, may exist and not be detected by us. We will advise you, however,
of any matters of that nature that come to our attention. Our responsibility as auditors is limited to
the period covered by our audit and does not extend to any losses that might be incurred during any
later periods for which we are not engaged as auditors.
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
financial statements, but the responsibility for the fmancial statements remains with you. This
responsibility includes the maintenance of adequate records and related internal control policies and
procedures, the selection and application of accounting principles, and the safeguarding of assets.
951536
ANDERSON & WHITNEY, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
Weld County, Colorado
Page 2
July 25, 1995
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 the internal control structure. 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.
Certain information returns (such as tax forms related to retirement plans, payments to outside
contractors, and interest and dividend payments) may be required for your entity. Also, most
businesses providing employee benefits, such as health insurance, should review their benefit plans
to insure compliance with applicable rules and regulations. We are available to assist you in ful-
filling these requirements at your request.
Whenever possible, we will use the personnel of the County as well as their schedules, reports
and correspondence.
Our fees for these services will be based on the estimated time required at our contracted
hourly rates. Our contracted 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. Our fee is expected to be $66,500 for the audit. Should
circumstances arise which would cause us to exceed our stated fee, we will discuss the circumstances
with you before proceeding further.
It is agreed that any unresolved disputes concerning the services provided by us will be
submitted to final and binding arbitration under the commercial arbitration rules of the American
Arbitration Association. 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.
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 that you have selected us as your independent certified public accountants and
look forward to a continuing pleasant relationship.
951.536
ANDERSON & WHITNEY, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
Weld County, Colorado
Page 3
July 25, 1995
Please indicate the agreement of the County with the arrangements discussed herein by signing
and returning the enclosed copy of this letter. A self-addressed, postage -paid envelope is enclosed
for your convenience.
Sincerely,
A&W:meh
Enclosure
This letter correctly sets forth the understanding of Weld County, Colorado.
Signature:
e a
Title: Chairman, Board of Commissioners
Date: 08/02/95
ClUENT't COPY
951536
ANDERSON & WHITNEY, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
1001 Ninth Avenue
Greeley, Colorado 80631-4046
(303) 352-7990 FAX (303) 352-1855
Fort Collins Line (303) 226-0525
Denver Line (303) 442-8988
Claud Hanes, Comptroller
Weld County
915 Tenth Street
Greeley, Colorado 80631
Dear Claud:
ANdERSON
WhITNEy
July 27, 1995
We have enjoyed working with you and the other County personnel on the past four
audits.
Our audit contract requires any fee changes for the third, fourth, and fifth years be
submitted by August 1 of each year. We are requesting a fee increase for the 1995 audit for
inflation.
We are proposing an increase for inflation of approximately four percent, or $2,500
(previous fee was $64,000). This results in the following hourly rates: Shareholder - $83,
Manager - $56, In -charges - $33, and Staff - $28.
This brings the proposed 1995 audit fee to $66,500. Please contact me with any questions
or to arrange any meetings or contract amendments necessary.
Sincerely,
Alan Holmberg, CPA
AH: mh
951536
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