08- Deliberate and accept the proposal from McClanahan and Holmes, L.L.P. to perform and independent outside audit on the City's 2009-10 financial records

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MCCLANAHAN AND HOLMES, LLP CERTIFIED PUBLIC ACCOUNTANTS R. FRANK RAY, CPA ZZg SIXTH STREET, S.E. R. E. BOSTWICK, CPA PARIS, TEXAS 75460 STEVEN W. MOHUNDRO, CPA 903-784-4316 GEORGE H. STRUVE, CPA FAX 903-784-4310 ANDREW B. REICH, CPA - RUSSELL P. WOOD, CPA 304 WEST CHESTNUT DENISON, TEXAS 75020 903-465-6070 FAX 903-465-6093 1400 WEST RUSSELL BONHAM, TEXAS 75418 903-583-5574 FAX 903-583-9453 Paris, Texas August 3, 2010 Honorable Mayor and Members of the City Council City of Paris Paris, Texas In response to your request for a proposal for the audit of the financial statements of the City of Paris, Texas (the City), for the year ending September 30, 2010, we shall appreciate your consideration of McClanahan and Holmes, LLP, for the performance of the engagement. This proposal is based on a report format in accordance with the financial reporting described in the GASB Statement No. 34 and information for a Comprehensive Annual Financial Report. If engaged, we will audit the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fiuid information, which collectively comprise the financial statements of the City as of and for the year ended September 30, 2010. Also, the document we submit to you will include the following additional information that will be subjected to the auditing procedures applied in our audit of the financial statements: combining and individual fund and account group financial statements and schedules; supplemental data; and the schedule of expenditures of federal awards. Accounting standards generally accepted in the United States of America provide for certain required supplementary information (RSI), such as management's discussion and analysis, to accompany the City's basic fmancial statements. If engaged, we will apply certain limited procedures to the City's RSI. These limited procedures will consist principally of inquiries of management regarding the methods of measurement and presentation, which management will be responsible for affirming to us in its representation letter. Unless we encounter problems with the presentation of the RSI or with procedures relating to it, we will disclaim an opinion on it. The following RSI is required by generally accepted accounting principles and will be subjected to certain limited procedures, but will not be audited: management's discussion and analysis. The document will also include statistical data that will not be subject to the auditing procedures applied in our audit of the fmancial statements and for which our auditors' report will disclaim an opinion. AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS 59