O.W. Krohn & Assoc/CT
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AGREEMENT
CITY-OF CARMEL. INDIANA
WHEREAS, the Clerk Treasurer of the City of Carmel, Indiana desires to prepare a Comprehensive
Annual. Financial RepOlt (CAFR) in accordance with standards established by the Govemment
Finance Officers Association (GFOA):' and,
WHEREAS, the Clerk Treasurer desires to retain the services of a firm of Certified Public
Accountants to assist with the co-ordination and preparation of the CAFR: .and
WHEREAS, O. W. Krohn & Associates, LLPCertified Public Accolll1tants, (the "Accountants")
desires to provide said services for said City:,
NOW THEREFORE, the parties mutually agree to the following:
ARTICLE I, COMPREHENSIVE ANNUAL FINANCIAL REPORT
The Accountants will assist with the following:
(A) Work with the City Clerk Treasurer, other CiiyOfficials and the Indiana State Board
of Accounts (SBA) and coordinate the preparati9n offinancialstatements, schedules
and disclosures that will conform to the GFOA CAFR Special Review Committee
Checklist for Cities adoptingGASB No, 34,
(B) Assist in preparation of Introductory Section including comparative analysis of
summary financial.data, management discussion and analysis and relatedtables and
charts.
(C) Prepare other schedules of supplementary financial information that might be
appropriate,
(D) Assist in preparation of the Statistical Section including interpretation and
impJementatlon of all GASB 44 requirements.
(E) Update statistical information for the City's Enterprise Funds and other City
Departments.
(F) Attcnd meetings, as necessary, withrepresentatives of the City, the SBA and GFOA
representatives.
ARTICLE 2. GENERAL ACCOUNTING AND CONSULTING SERVICES
The accountant will provide services relative to general accounting and finanCial hlatt~rs;thatmight
arisc from timc to time incl uding, but not limited to, general accounting support .~ervites, financial
reporting, assistance with computer applications, assistance with economic development projects,
budgeting, feasibility studies, tax rates and other finaIlciahnatters that mightarisefrom time to time.
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ARTICLE 3 ATTESTATION SERVICES
The services to be rendered will not include audits, We willnotrender an opinion or any other form
of assurances on the financial statements. Our reports will indicate that we have "compiled" the
financial statements WitllOut audit and that the inforriwticincontained in the repotts represents the
assertions of manag'emenl.
ARTICLE 4. FEES
The fees for services to be rendered will be based upon hourly time charges and reimbursement of
out of pocket expenses. The hourly rates shall be one hundred atld:seventy-five dollars ($175) for
professional CPA time, one hundred and twenty-five dollars ($12.5) for consultant time and ninety
dollars ($90) for para-professional.time. The hourly rates may be revised fi'om time to time,
however, they shall not be revised prior to December -3.1, 2008, 'The City will be notified of any
change in billing rates, Actual fees will be based'upon hourly time charges at the rates described
above.
ARTICLE 5. TERMINATION
This agreement may be terminated for any reason by either party at any time subject to written
notification. The City agrees to compensate the Accountants for services rendered prior to
termination. This agreement shall continue from year to year, unless the agreement is terminated by
either party.
WITNESSETH
The City of Carmel, lndiana and O. W. Krohn & Associates, LLP Certified Public Accountants, do
hereby agree to the above noted scope of services and terms of this agreement and do, hereby, set
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their hands and seal on this day of . 2008.
9, w: k~: I.JssauGk- L
o. w. Krohn&'Associates, LLP
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City of Carmel, Indiana
ATTEST~~,
Office of Clerk Treasurer
Board of Public Works an~ Safety-:
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n-l3asurer