HomeMy WebLinkAbout44-87 RESOLUTIONT •
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RESOLUTION NO. 44-87
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE A MODIFICATION TO THE CITY'S
AUDIT CONTRACT WITH ARTHUR YOUNG & COMPANY TO
INCREASE FEES FOR ADDITIONAL WORK.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
That :the Mayor and City Clerk are hereby authorized and
directed to execute a modification to the City's audit contract
with Arthur Young & Company to increase fees for additional work.
A copy of the modification authorized for execution hereby is
attached hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 2 day of June , 1987.
APPROVED
By: noktieer) 9A4t4Aa-/
Mayor
MODIFICATION OF CONTRACT
This MODIFICATION OF CONTRACT executed as of the 2nd day
of June, 1987, between the City of Fayetteville, Arkansas, herein-
after referred to as the "City", and Arthur Young & Company,
• Certified Public Accountants, hereinafter referred to as the
"Auditpr".
WHEREAS, the City and the Auditor have entered into a
financial audit contract dated November 20, 1984; and.
WHEREAS, the City and the Auditor desire to modify said
contract,
NOW, THEREFORE, the City and the Auditor hereby mutually
agree that the aforesaid financial audit contract shall be
modified as follows:
1. Section VI of said contract is hereby modified by adding
paragraph 4 to read as follows:
4. For the audit periods ending December 31,
1986, and December 31, 1987, the City shall pay the
Auditor according to billing rates shown in Schedule B
for services rendered in auditing the accounts specified
in Exhibit "A" attached hereto and made a part hereof;
provided, the total fee for auditing said funds shall
not exceed $161160.00 per audit period.
IN WITNESS WHEREOF, this Modification of Contract has been
executed as of the date aforementioned.
ATTEST
By:
ATT
.epBy ittEd
Clerk
Title.
CITY OF FAYETTEVILLE, ARKANSAS
By:
Mayet.LT-IL) 9a414.44LIS
ARTHU YOU & C
'By:
411
fre I'm .1
•
Fund/Area
CITY OF FAYETTEVILLE, ARKANSAS
SCHEDULE OF FEES FOR ADDITIONAL WORK
DECEMBER 31, 1986 AUDIT PERIOD
Nature of
Work to be
Performed Reason Fee
Northwest Arkansas Audit of current year New fund
Resource Recovery balances sines
contract
Municipal Court
(4 "funds")
Review of compliance
w ith bond indentures
Audit of current year New fund
balances since
contract
• Sales Tax Sewer Bond Audit of current year
balances
City Maintenance
Arts
•
Review of compliance
w ith bond indentures
Review and analysis
o f "reporting"
e ntity
Audit of current year
balances
New fund
since
contract
New fund
since
contract
Center - Project Review of "reporting" New fund
e ntity since
contract
Arts Center - Bond
Arkansas Statute 15
of 1985
Audit of current year
balances
Review of "reporting" New fund
e ntity since
contract
Audit of current year
balances
Review of compliance
w ith bond indentures
Review and comments
On compliance with
✓ equirements of
statutes (requires
an additional report)
$ 2,780
1,605
1,125
1,189
(*) 424
1,674
New report 2,799
•
1
•
;••
Fund/Area
CITY OF FAYETTEVILLE, ARKANSAS
SCHEDULE OF FEES FOR ADDITIONAL WORK
DECEMBER 31, 1986 AUDIT PERIOD
Internal Control
Review on
Administration of
Federal Financial
Assistance Programs
Review of LOPFI
reports to be filed
with State
Report on Schedule of
Federal Financial
Assistance Programs
Subtotal
Nature of
Work to be
Performed
Review and
documentation of
controls (requires
an additional
✓ eport)
Preparation of
special accountant's
✓ eports (requires
2 additional
✓ eports)
Preparation of
Schedule and report
Additional copies of CAFR (50)
as proposed by Arthur Young & Co.
Reason
Single
Audit Act
requirements
New state
statute
Single
Audit Act
requirements
Total
Total with additional copies in present •format
(*) Construction had not commenced at December 31, 1986.
Fee
$ 1,386
1,807
621
15,410
250
$15,660
$16,160
10.10
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