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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City of Paris August 3, 2010 Page 5 agreements, including gant agreements. However, the objective of those procedures will not be to provide an opinion on overall compliance and we will not express such an opinion in our report on compliance issued pursuant to Government Auditing Standards. OMB Circular A-133 requires that we also plan and perform the audit to obtain reasonable assurance about whether the City has complied with applicable laws and regulations and the provisions of contracts and grant agreements applicable to major programs. Our procedures will consist of the applicable procedures described in the OMB Circular A-133 Compliance Supplement for the types of compliance requirements that could have a direct and material effect on each of the City's major programs. The purpose of those procedures will be to express an opinion on the City's compliance with requirements applicable to each of its major programs in our report on compliance issued pursuant to OMB Circular A- 133. Audit Administration, Fees, and Other We encourage our clients to adopt the procedure of having their personnel prepare working papers and analyses for use during the audit in order to minimize the clerical activities of our professional staff and resulting added cost. If engaged, a list of workpapers will be furnished which can be prepared by your personnel prior to the final field work. At the conclusion of the engagement, we will complete the appropriate sections of and sign the Data Collection Form that suminarizes our audit findings. We will provide copies of our reports to the City; however, it is management's responsi- bility to submit the reporting package (including fmancial statements, schedule of expenditures of federal awards, summary schedule of prior audit findings, auditors' reports, and a corrective action plan) along with the Data Collection Form to the designated federal clearinghouse and, if appropriate, to pass-through entities. The Data Collection Form and the reporting package must be submitted within the earlier of 30 days after receipt of the auditors' reports or nine months after the end of the audit period, unless a longer period is agreed to in advance by the cognizant or oversight agency for audit. At the conclusion of the engagement, we will provide information to management as to where the reporting packages should be submitted and the number to submit. The audit documentation for this engagement will be the properly of McClanahan and Holmes, LLP, and will constitute confidential information. However, pursuant to authority given by law or regulation, we may be requested to make certain workpapers available to a federal or state agency providing direct or indirect funding, or the United States General Accounting Office for purposes of a quality review of the audit, to resolve audit findings, or to carry out oversight responsibilities. We will notify you of any such requests. If requested, access to such workpapers will be provided under the supervision of McClanahan and Holmes, LLP personnel. Furthermore, upon request, we may provide photocopies of selected workpapers to the aforementioned parties. These parties may intend, or decide, to distribute the photocopies or information contained therein to others, including other governmental agencies. The audit documentation far this engagement will be retained for a minimum of five years after the report release or for any additional period requested by the cognizant or oversight agency for audit or pass-through entity. If we are aware that a federal awarding agency, pass-through entity, or auditee is contesting an audit fmd'mg, we will contact the party(ies) contesting the audit finding for guidance prior to destroying the audit documentation. 63