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HomeMy WebLinkAbout2023 engagement letter Tara Dunford, CPA Certified Public Accountant taradunfordcpa@yahoo.com (253) 273-4379 December 14, 2022 Brian Carlson Kittitas County 205 W 5th Ave, Suite 105 Ellensburg, WA 98826 Dear Brian, Thank you for requesting my assistance with your accounting needs. The purpose of this letter is to outline the services to be provided and give you an estimate of the time it will take. You have requested that I assist with preparation of the financial statements for Kittitas County, which comprise the balance sheet as of December 31, 2022, and the related statements of income and cash flows for the year then ended and the related notes to the financial statements; and that I provide other technical accounting assistance as requested. My Responsibilities The objective of the engagement is to apply accounting and financial reporting expertise to assist you in the pre paration of financial statements in accordance with accounting principles generally accepted in the United States of America based on information provided by you. I will conduct the engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA and comply with the AICPA’s Code of Professional Conduct, including the ethical principles of integrity, objectivity, professional competence and due care. I am not required to, and will not, verify the accuracy or completeness of the information you provide for the engagement or otherwise gather evidence for the purpose of expressing an opinion or a conclusion. Accordingly, I will not express an opinion or a conclusion nor provide any assurance on the financial statements. The engagement cannot be relied upon to identify or disclose any financial statement misstatements, i ncluding those caused by fraud or error, or to identify or disclose any wrongdoing within the county or noncompliance with laws or regulations. However, I will inform you of any material errors or evidence of fraud that come to my attention during the financial statement preparation process. In addition, I will inform you of any evidence or information that comes to my attention during the preparation process regarding any wrongdoing within the county or noncompliance with laws and regulations that may have occurred, unless they are clearly inconsequential. I have no responsibility to identify and communicate deficiencies or mate rial weakness in your internal control as part of this engagement. Your Responsibilities The engagement to be performed is conducted on the basis that you acknowledge and understand that my responsibility is to assist you in the preparation of the financial statements in accordance with accounting principles generally ac cepted in the United States of America. You have the following overall responsibilities that are fundamental to my undertaking the engagement in accordance with Statements on Standards for Accounting and Review Services: 1. The selection of accounting principles generally accepted in the United States of America as the financial reporting framework to be applied in the preparation of the financial statements. 2. The prevention and detection of fraud. 3. To ensure that the county complies with the laws and regulations applicable to its activities. 4. The accuracy and completeness of the records, documents, explanations, and other information, including significant judgements, you provide to me for the engagement. 5. To provide me with – a. Documentation and other related information that is relevant to the preparation and presentation of the financial statements. b. Additional information that I may request for the purpose of preparing the financial statements. The financial statements will not be accompanied by a report. Howev er, you agree that the financial statements will clearly indicate that no assurance is provided on them. Other Relevant Information I am solely responsible for performing the engagement. Work will be performed primarily from my home office, with visits to your office as needed. Fees for these services will be based on the actual time spent at an hourly rate of $1 75/hour, not to exceed 360 hours or $63,000. There shall be an additional flat fee of $200 per day for any required on -site work. I will not bill you for any additional travel or incidental costs. The fee estimate is based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered during the work performed. If significant addi tional time is necessary, I will discuss it with you and arrive at a new fee estimate before additional costs are incurred. Invoices for these fees will be rendered each month as work progresses and are payable within 30 days. The term of this agreement shall be January 1, 2023 through December 31, 2023. I appreciate the opportunity to be of service to you and believe this letter accurately summarizes the significant terms of the engagement. If you have any questions, please let me know. If you acknowledge and agree with the terms of the engagement as described in this letter, please sign and attach it as an addendum to the contract covering this engagement. Sincerely, Tara Dunford Tara Dunford, CPA Acknowledged: Kittitas County Brian Carlson, Budget and Finance Director Date