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Engagement Letter <br /> We have provided an engagement letter that confirms both management and auditor responsibilities, and other <br /> engagement terms and limitations. Additionally the letter identifies the cost of the audit, estimated timeline for <br /> completion and expected communications. <br /> Levels of Reporting <br /> Findings <br /> Findings formally address issues in an audit report. Findings report significant deficiencies and material <br /> weaknesses in internal controls; misappropriation; and material abuse or non-compliance with laws, regulations <br /> or policies. You will be given the opportunity to respond to a finding and this response will be published in the <br /> audit report. <br /> Management Letters <br /> Management letters communicate control deficiencies, non-compliance or abuse with a less-than-material effect <br /> on the financial statements or other issues with significance to the audit objectives. Management letters are <br /> referenced, but not included, in the audit report. <br /> Exit Items <br /> Exit items address control deficiencies or non-compliance with laws or regulations that have an insignificant <br /> effect on the audit objectives. These issues are informally communicated to management. <br /> Important Information <br /> Confidential Information <br /> Our Office is committed to protecting your confidential or sensitive information. Please notify us when you <br /> give us any documents, records, files, or data containing information that is covered by confidentiality or <br /> privacy laws. <br /> Audit Costs <br /> The cost of the audit is estimated to be approximately $68,092, plus estimated charges for travel time of$1,902, <br /> travel costs, and other expenses, if any. <br /> Expected Communications <br /> During the course of the audit, we will communicate with Judy Pless, Budget & Finance Manager on the audit <br /> status, any significant changes in our planned audit scope or schedule and preliminary results or <br /> recommendations as they are developed. <br /> Please let us know if, during the audit, any events or concerns come to your attention of which we should be <br /> aware. We will expect Judy to keep us informed of any such matters. <br /> Audit Dispute Process <br /> Please contact the Audit Manager or Assistant Director to discuss any unresolved disagreements or concerns <br /> you have during the performance of our audit. At the conclusion of the audit, we will summarize the results at <br />