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M City of Pequot Lakes - lu l Flu 0] 74W 11i� To: Pequot Lakes City Council From: Nancy Malecha, Finance Administrator/Deputy City Clerk Date: May 27, 2011 Subject: Audit Proposals In April, the City Council requested that we seek audit proposals for audit services beginning with the 2011 audit period. The following table summarizes information received from several audit firms. (The detailed audit proposals are also included for your convenience.) 2011 -2013 AUDIT PROPOSALS (3 YEAR COMMITMENT) The City has contracted with LarsonAllen for audit services since 2004 and I have experienced nothing but excellent service and a great working relationship with them. However, I have no objections working with any of the above firms. Thank you. 2011 2012 2013 TOTAL AUDIT FIRM COST COST COST COST HOURS NOTES Abdo, Eick & $21,735 $22,184 $22,633 $66,552 190 Includes GASB 54 Meyers LLP implementation. Annual OSA reporting would be an additional $550 per ear. Eide Bailly LLP $18,500 $18,900 $19,300 $56,700 220 Includes annual OSA reporting & GASB 54 implementation. Kern, DeWenter, $18,000 $18,600 $19,200 $55,800 200 Includes annual OSA Viere Ltd (KDV) reporting & GASB 54 implementation. LarsonAllen LLP $19,900 $19,900 $19,900 $59,700 200 Includes annual OSA reporting & GASB 54 implementation. Westberg $18,875 $19,125 $19,375 $57,375 173 Includes annual OSA Eischens PLLP reporting. GASB 54 implementation assistance would incur additional fees. The City has contracted with LarsonAllen for audit services since 2004 and I have experienced nothing but excellent service and a great working relationship with them. However, I have no objections working with any of the above firms. Thank you.