HomeMy WebLinkAbout2008-7-7436ORDINANCE NO. 2008-7-7436
AN ORDINANCE ACCEPTING AND APPROVING A FEE ADJUSTMENT
IN THE AMOUNT OF $20,000 FOR THE COMPREHENSIVE ANNUAL FINANCIAL
REPORT FOR FISCAL YEAR ENDING JUNE 30, 2008, AND AUTHORIZING THE MAYOR
TO EXECUTE A REVISED LETTER OF UNDERSTANDING
WHEREAS, the City adopted Ordinance No. 2005-3-6396 accepting the
proposal of Kemper CPA Group, LLP for preparation of the Comprehensive Annual Financial
Reports for Fiscal Years ending June 30, 2005, 2006, 2007 and 2008 for a total sum not to exceed
$167,600.00; and
WHEREAS, the proposal included language, "Our fee proposal also is prepared
based on current professional standards with the understanding the future professional standards
`significantly' affecting the required scope of our services are beyond our control and if such
items did arise during the proposal period we would work with you to reach a mutually agreeable
solution at that time," and
WHEREAS, due to increased audit regulations it has become necessary for
Kemper to adjust its fee from $43,900 to $63,900 and a revised letter of understanding is
required.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City of Paducah hereby accepts and approves the fee
adjustment in the amount of $20,000 for the comprehensive annual financial report for fiscal year
ending June 30,.2008 to be prepared by Kemper CPA Group, LLP.
SECTION 2. That the Mayor is hereby authorized to execute a revised Letter of
Understanding with Kemper CPA Group, LLP for the preparation of the comprehensive annual
financial report for FY2008.
SECTION 3. That the City hereby authorizes the expenditure approved in
Section 1 above in the amount of $20,000 be appropriated from the General Fund's fund balance.
SECTION 4. This ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS Chanter 424.
ATTEST:
1110M ' � &-ock
Tammara S. Brock, City Clerk
Introduced by the Board of Commissioners June 24, 2008
Adopted by the Board of Commissioners July 8, 2008
Recorded by Tammara S. Brock, City Clerk, July 8, 2008
Published by The Paducah Sun, July 15, 2008
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