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City of Paris <br />August 6, 2002 <br />Page 6 <br />Audit Administration, Fees, and Other (Continued) <br />have extensive experience. Attachmente liet current clients for which we provide <br />similar audit services and provide the education and experience of professional <br />audit personnel most likely to be assigned to the audit. <br />Based on our understanding o£ the audit work required and our evaluation of your <br />books and records, we would estimate that the fee for the engagement would not <br />exceed $36,000 plus out-of-pocket expenses (such as report reproduction costs, <br />postage, etc). As competitive bidding by licensed certified public accountants <br />is not permitted by state law, this is considered a fee estimate and as such, we <br />will not be bound to provide the proposed services for the estimated amount. Our <br />estimated fee for these services is based on the following rates and estimated <br />hours of professional time. It should be noted that this fee is an estimate and <br />the actual £ee billed will be based on our standard billing rates and the number <br />of hours necessary to complete the required scope of work. <br />Position <br />Rate <br />Hours <br />Officer <br />$ <br />120 <br />30 <br />In-Charge <br />$ <br />100 <br />150 <br />Staff <br />$ <br />48 - 72 <br />450 <br />Clerical <br />$ <br />32 <br />170 <br />Total <br />600 <br />If the City requests additional work or services not within the general scope of <br />this proposal, that work would be billed at our normal rates. Requests for <br />additional work or services beyond the general scope of this proposal must be <br />made in writing before the beginning of field work, and appropriate rates would <br />be negotiated. <br />If engaged, we would expect our preliminary work to begin prior to year end and <br />our final field work to begin shortly after your records are closed out for the <br />year. We would expect to deliver our report within ninety days after September <br />30, 2002, and would bill for the entire engagement after the report is delivered. <br />We would provide as many copies of the report as needed. <br />Government Auditing Standards require that we provide you with a copy of our most <br />recent quality control review report. Our 2000 peer review report accompanies <br />this letter. <br />Should you want additional information or should you want us to appear before the <br />City Council, please let us know. If you agree with the terms of the engagement <br />as described in this proposal, please sign the second copy and return it to us. <br />CG,,.,..G.,.... a..,a ~ti, PLC-c. <br />McClanahan and Holmes, PLLC <br />Certified Public Accountants <br />MCCLANAMAN AND HOLMES,PLLC <br />