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Home My WebLink About30924 / 80-20Septe*rber 4, 1980 # 20 RFSOLUi'ION P(RZPCSE: -F�"�]T FOR SE1N2C^c.�i WSTH AKPIIUR ANDEPSON & QJ. I1�TITIATED BY: D��1KCT�1T OF ADis�IISTRATIO�i BE IT RFSOLVID by the Co�n Caimcil oE the City of Oshkcsh that the proper City ofiicials are hereby authorized and directec'. to enter intA an appropriate a�nt with �rthur Anderson & Co., 777 East Wisconsin Avenue, Milwaukee, WI 53201, for the e�cnination of the £inancial stat�ments of the �hkash Transit System, for $2,500.00; and for assistance to the City in developing its fi�d asset records, for $2,500.00; all pursuant t�o their proposal dated August 14, 1980. BE IT FUfSi�F,R RESOLVED that m�ney for this ptu.pose is hereby anpropriated as follaas: Accoimt No. 728-521, Bus Utility-Professional Services, $2,500.00; and Account No. 014-560, A�riit-Professional Services, $2,500.00. BE IT FUKCHER RESOLVED that the proper City oEficials are hereby authorized ar.d directed to trar.sfer ttze sum of $2,500.00 from Account No. 310-550, Ger.eral Fluk3 E_,-vity to Accotmt No. 014-560, Audit-Professional Services_ „!E`:; "i � �:� BY _.;'Y�:. J"1'1 - 20 - , � .. li � I ARTHUR ANDERSEN 8c CO. 777 EAST H�ISCONSTN AVENUP. J'. O. BoX 12J5 .�'lILWAUICEE, WISCOVSIN 53201 (414) 271-5100 August 14, 1980 �ir.j Richar;; Jansen Director of P_dministration City of Oshhkosh 215 Church Avenue Post Office Box 1130 Oshkosh, [disconsin 54901 Dear Mr. Jansen: This will confirm our understanding of the arrantiements made with you covering the examination of tne financial statements of the City of Oshkosh for the year ending December 31, 1980. As in prior years, our work is to consist of an examination of the balaace sheets at Decemoer 31, 19II0, of the general city, parkin� utility, se�aerage utility, and water utility and of the related statements of revenues and expenditures and changes in fund balances for the year then ending in accordance with generally accepted auditing standards, iacluding such tests of the accounting records and such other auditing procedures as we consider necessary to enable us to e�cpress our opinion on the financial statements. Our examination is to include a review and evaluation of the existing system of interaal accounting co.:_rol to provide a basis for reliance thereon in determining the nature, timing and extent of selective audit tests to be applied to recorded transactions and data for certain periods of the year. Primary reliance for the prevention and de�.ection of errors or irregularities must be placed on such system of internal accounting control because it is in constant operation and covers all periods and transactions. Such a system cannot eliminate, however, the possiUility that errors or irregul.arities may occur. W'hile there can be no guarantee that such er.rors or irregularities coill be detected by us, cae will plan our exami::stion to search for errors or irregnlarities that would have a material effect on the financia_1 statements. Any irregularities conino to our attention would, of course, be reported to you. � . � �� AR'I'HUR ANllY:}t5EN Sc CO. Mr. Richard �ansen -2- August 14, 1980 We uaderstand you may also engage us to perf.orm the examination of the finaacial statements of the Ciry's Transit System for the year endino Decenuer 31, 1980. This letter constitutes our formal proposal to perform this examination. Our work would consist of an examination in accordance with generally accepted auditing standards, including such tests o•`_ *_`�= 3ccounting records and such other auditing procedures as we consider r.ecessary to enable us to express our opinion on the financial statemrn�s. tde would perform a revieca and evaluation of internal accountiao coatrols as discussed in the preceding paragraph. As set forth in onr proposal dated September 8, 1978, cae are to perform, for e:ich of the years 1978, 1974 and 1980, an examination of an additional area designated by the City. As arranged, there is no charge for �ais additional examination. For 1980, the City has designated the examination of the consolidated financial statements of the City for the year ending December 31, 1980. lie :aill also provide assistance to the City in the development of accounting records for its general fixed assets. Mr. Jansen caill have overall responsibility for this project. Our charges far the examination of the financial statements, excluding the Transit System, will be $16,000. Our proposed fee far the exam�nation �f the financial statements of the Transit System is $2,500. Our charges £or assistance to the City in developing its fixed asset recorc� caill be based on actual hours incurred at a"loaned staff" rate. The Ciry,'_s appropriation of $2,500 would provide approximately 100 hours o� our staff time plus out-of-pocket expenses. We are pleased to have this opportunity to be of continued service to you. Copies to: :Ir. W. Frueh pqr, D. Kutchera Very truly yours, ARTiIUR ANDERSEN & C0. �� /�� _% sy G�`� `�z` C,�t -! `�`�� Gearge�ti. Kaiser � J �� AATHUR ANDERSEN 8c CO- 777 EASi WISCO:ISIN A�'EVUE F'. �. BOX 1215 �ILWAUKEE,�VISCOrSIF 53201 (414) 277-5100 August 14, 1980 iir.l Bichar:: Jansen Director of �dministration City of Os:�kosh 215 Church Avenue Post Office Box 1130 Oshkosh, SJisconsin 54901 Dear Mr. Jansen: This will confirm our understanding of the arran�ements made �aith you covering the eaamination of tne financial statements of the City of Oshkosh for the year ending December 31, 1980, As in prior years, our work is to consist of an examination of the balance sheets at December 31, 19II0, of the general city, parking utility, se�oerage utility, and water utility and of the related statements of revenues and exnenditures and changes in fund balances for the year than ending in accordance with generaZly accepted auditing standards, including such tests of the accounting records and such other auditing procedures as we consider necessary to enable us to express our opinion on the financial statements. Our examination is to include a review and evaluation of the existing system of internal accountin�, co.:-ro1 to provide.a basis for reliance t�ereon in determining the nature, timing and extent of selective audit tests to be applied to recorded transactions and data for certain periods of the year. Primary reliance for the prevention and d:��ection of errors or irregularities must be placed on such system of internal accouatino control because it is in constant operation and covers all periods and transactions. Such a systen cannot eliminate, however, the possibility that errors or irregularities may occur. Svliile there can be no guarantee that such errors or irregularities coill be detected by us, we wiil plan our exami_�ation to search for errors or irregularities that would have a material effect on the fiaancial statements. Any irregularities co;aino to our attention caould, of course, be reported to you. ARTHUR ANDERSEN & CO- rir. Richard „ensen -2- August 14, I980 wz understand you may also engage us to perform the examination of the fina:cial statements of the Cicy's Transit System for the year ending Dec�s:czr 31, 1980. This letter constitutes our formal proposal to perform *_nis examination. Our v�ork would consist of an examination in accordsa�e with generally accepted auditing standards, including such tests o� *_`�= accounting records and such other auditing procedures as eae consider r.e-e�sary to enable us to express our opinion on the financial statem2n�s. i�e would perform a review and evaluation of internal � accountino ccatrols as discussed in the preceding paragraph. As set forth in our proposal dated September 8, 1978, coe are to perform, for e.icU of the years 197&, 1979 and 1980, an examination af an additional area designated by the City. As arranged, there is no charge fo: �:;is additional examination. For 1980, the City has designated the examination of the consolidated financial statements of the City for the year ending December 31, 1980. :ee :aill also provide assistance to the City in the development of accounting _ecords for its general fixed assets. Mr. Jansen tuill have overall responsibility for this project. Our charges for the examination of the financial statements, excluding the Transit System, will be $16,000. Our proposed fee for the examinatio^. _` the financial statements of the Transit System is $2,500. Qu= charges for assistance to the Ci[y in developing its fixed asset recor�s will be based on actual hours incurred at a"loaned staff" rate. The City's_ appropriation of,_$2,500 would provide approximately 100 hours o� our staff time plus out-of-pocket expenses. We are pleased to have [his opportunity to be of continued service to you. Very truly yours, ARTiIUR AIv'DERSEN & C0. G�� r� By �, , ,'G;:u{x� �lf(c.G�, George�C. Kaiser ! V Copies to: :ir. [d. Frueh ifr. D. 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