HomeMy WebLinkAboutContract 370950
CITY SECRETARY ` MAR � � 70U8
Delonitte. �QNTRP: � y NO. b��
Deloitte &Touche LLP
JPMorgan Chase Tower
2200 Ross Avenue, Suite 1600
Dallas, TX 75201-6778
March 17, 2008 USA
Tel: +1 214 840 7000
www.deloitte.com
Karen Montgomery
Assistant City Manager and Chief Financial Officer
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Dear Ms. Montgomery:
Deloitte &Touche LLP ("D&T") is pleased to continue to serve as independent auditors for the
City of Fort Worth (the "City"). We continue to press forward aggressively to complete the audit
for the year ended September 30, 2006. We understand the importance of swift completion and
we continue to work with City staff to complete the audit. However, at the same time, we must
also work for a quality audit. As described in our management letter for the year ended
September 30, 2005, there are a number of deficiencies in the City's internal control, which we
must consider in our audit procedures. We experienced a certain amount of inefficiency
throughout the summer and early fall as the City worked to supplement its staffmg. In addition,
we have continued to experience errors in data in the schedules received from the City, which
has caused delays and increases in hours. However, we know the City is striving to improve
these situations and will work toward a completed audit as soon as possible.
These inefficiencies and delays have lengthened the time of our audit and our estimated total
hours. Therefore, we are revising our total estimated fee as follows:
Hours 6,700
Rate per Hour $155
Audit Fees $1,038,500
Expenses (primarily MWBE payments) $165,000
Total estimated fee
This fee estimate includes the following elements:
City financial audit and single audit
Pension plan financial audit
Death Benefit Fund Agreed Upon Procedures
TCEQ Landfill Agreed Upon Procedures
tal estimated fee
'
�E�f.
�
,1
$1203500
$1,149,500
45,000
6,000
3,000
$1,203,500
Member of
Deloitte Touche Tohmatsu
These revised fees will be billed at the rate per hour stated in our engagement letter dated April
301 2007. This revised fee estimate is greater than our original estimate. If we continue to
encounter errors in the data or other unresolved matters, our fee estimate may require further
revision.
This letter amends only the fee section of our engagement letter dated Apri1303 2007 and our fee
revision letter of October 30, 2007. If the above terms are acceptable and are in accordance with
your understanding, please sign the copy of this letter in the space provided and return it to us.
Yours truly,
and agreed to by management of City of Fort Worth:
Karen L. Montgome�
Title: Assistant City Manager/CFO
Date:
A�teste�i B�:
Marty Hen
-�Et;ract Authorizatiol