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DEC 1 0 2001 <br />Gll Y Ur unoi^u <br />REQUEST FOR COUNCIL ACTION <br />DATE: December 10.2001 <br />ITEM NO: <br />DcpailMCOt Approval^ <br />Name Tom Kuehn <br />Title Finance Director <br />}^JL^ Admiiniitnitor Reviewed:Afeada Section: <br />City Administrator's <br />Report <br />Item Deaeription: <br />Appoint Auditor for Fiscal Year 2001 <br />We have requested a cost estimate from the audit firm of Malloy. Kamowski. Radosevich <br />A Company for performing the 2001 fiscal year audits. The estimated cost for the 2001 <br />fiscal year audits, including the Minnesota legal compliance audit, and assistance with the <br />Certificate of Achievement for Excellence in Financial Reporting Program, is $22,730 <br />excluding direct expenses. The total cost for the 2000 audit, related services, and direct <br />expenses was $22,290. <br />There are several activities the City is now involved in that we were not previously. The <br />City now has a Tax Increment District, which will require specialized record keeping and <br />reporting. The City is also using Community Block Grant Funds for affordable housing <br />grants and loans. Last, but certainly not least, the City is involved in a joint fire hall project <br />with the City of Long Lake. The audit of these activities will quite possibly require <br />substantial additional time and expense from the audit staff, and therefore could result in <br />significantly higher than estimated audit costs. <br />COUNCIL ACTION REQUESTED: <br />Council ^)pointment of the audit firm of Malloy, Kamowski, Radosevich A Co., P.A. to <br />perform the required audits for the 2001 fiscal year records at an estimated cost of <br />$22,730, excluding direct expenses.