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~ It AGREEMENT FOR AUDITING/ACCOUNTING SERVICES This agreement by and between the CITY OF NEW BRIGHTON , MINNESOTA, hereinafter referred to as the "City''. and the accounting firm of VOTO, T AUTGES, REDP A TII & CO., LID., hereinafter referred to as the "Auditors", WITNESSE1H: In consideration of their mutual covenants and agreements as hereinafter set forth, the parties hereto contract and agree as follows: I. The Auditors agree to perform an audit of the financial statements and transactions of the City for the year ended December 31, 1988. Such audit and examination shall be made in accordance with generally accepted auditing standards and the minimum audit procedures prescribed by the Minnesota State Auditor pursuant to the provisions of MSA, Chapter 6. Such audit and examination will include tests of the accounting records and such other audit procedures as are considered necessary to enable the Auditors to render an opinion on the fairness of the City's financial statements. It is not contemplated that the audit will be a detailed examination of all transactions nor that the audit will necessarily discover mis-conduct, should any exist. The Auditors will, however, promptly inform the City of any findings which appear unusual or abnormal. II. The Auditor's report and management comments shall be addressed to the City Council. Such management comments shall contain specific disclosure and recommendations with regard to the following: (a) Non-conformity with policy and procedures prescribed by Council Action, State Statutes, and/or Federal Rules and Regulations. (b) Non-conformity to generally accepted governmental accounting principles. (c) Defects in accounting policies and procedures that make accounting and/or auditing time consuming and/or inefficient. (d) Any failure of the accounting department to prepare and distribute fmancial reports required or needed for administrative purpose. (e) Any other information deemed appropriate of City Council consideration.