HomeMy WebLinkAbout1991-024 Audit Contract-CoopersCONTRACT FOR AUDIT SERVICES
THIS CONTRACT, made this 7th day of May, 1991, ..............
with the requirements of Oregon Revised Statutes 297.405 through
297.555 between Coopers & Lybrand, Certified Public Accountants
of Portland, Oregon, and the City of Ashland, Oregon including
Ashland Parks and Recreation Commission and Ashland Community
Hospital, herein referred to as the City, provides as follows:
SECTION 1. It hereby is agreed that Coopers & Lybrand shall
conduct an audit of the accounts and fiscal affairs of City of
Ashland, Oregon, as of and for the years ending June 30,
1991,1992, and 1993. The audit will be made in accordance with
the Minimum Standards for Audits of Municipal Corporations as
prescribed by law. The audit shall be undertaken in order to
express an unqualified opinion that the financial statements of
the City are fairly presented in conformity with generally
accepted accounting principals consistently applied, and to
determine if the City has complied substantially with appropriate
legal provisions. If Coopers and Lybrand's opinion is other than
unqualified, they will fully discuss the reasons with the City in
advance.
SECTION 2. Coopers & Lybrand agrees that the services they
contracted to perform under this contract shall be rendered by
them or under their personal supervision and that the work will
be faithfully performed with care and diligence.
SECTION 3. It is understood and agreed that, should unusual
conditions arise or be encountered during the course of the audit
whereby the services of Coopers & Lybrand are necessary beyond
the extent of the work contemplated, written notification of such
unusual conditions shall be delivered to the City, who shall
instruct in writing Coopers & Lybrand concerning such additional
services, and that a signed copy of each such notification and
instruction shall be delivered immediately to the Secretary of
State by the Party issuing the same.
SECTION 4. The audit shall be started as soon after this
contract is executed as is agreeable to the Parties hereto and
shall be completed and written reports thereon delivered within a
reasonable time, but not later than two months, after the close
of the audit period covered by this contract for Ashland
Community Hospital report and five months for the city of Ashland
report and Ashland Parks and Recreation Commission reports.
Thirty five copies of the Hospital Audit report, 50 copies of the
city report and 12 copies of the Parks and Recreation report
shall be delivered to the City, and its form and content shall
be in accordance with and not less than that required by the
Minimum Standards for Audits of Oregon Municipal Corporations.
SECTION 5. It is understood and agreed that the city , is
responsible for such financial statements as may be necessary to
fully disclose and fairly present the results of operations for
the period under audit and the financial condition at the end of
that period. Although it is managements responsibility, it is
understood that the reports are to be drafted and prepared by
Coopers & Lybrand. The cost of preparing such financial
statements shall be included in the fee for conducting the audit
as set forth in Paragraph 7 below.
SECTION 6.
may cancel this
Party at least
It is understood and agreed that either Party
contract by giving notice in writing to the other
(ninety days) prior to July 1 of any year.
SECTION 7.
the conditions,
City of Ashland,
In consideration of the faithful performance of
covenants, and undertakings herein set forth, the
Ashland Community Hospital and Ashland Parks and
Recreation Commission agrees to pay Coopers & Lybrand for the
1990-91 audit the sum of $27,100, $15,600 and $3,500
respectively, and the city of Ashland, Oregon, hereby affirms
that proper provision for the payment of such fee has been or
will be duly made and that funds for the payment thereof are or
will be made legally available. The fee for the remaining two
years will be adjusted by the Portland cost of Living Index.
Mayor
City Redorder
CITY OF ASHLAND