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.. Harris, Cotherman, .. ~:~~:~~co~n~ssociates Management is responsible for making all financial records and related information available to us. We understand that you will provide us with such information required for our audit and that you are responsible for the accuracy and completeness of that information. We will advise you about appropriate accounting principles and their application and will assist in the preparation of your financial statements, but the responsibility for the financial statements remains with you. That responsibility includes the establishment and maintenance of adequate records and effective internal control over financial reporting, the selection and application of accounting principles, and the safeguarding of assets. The City of Casselberry will prepare the list of approved schedules as requested. In addition, we understand that the City of Casselberry will render other assistance such as copying agreements, pulling invoices and providing additional schedules or documentation as reasonable and necessary to reduce time and promote operational efficiency. This will allow us to issue our reports on the financial statements on schedule. The workpapers for this engagement are the property of the Harris, Cotherman, O'Keefe & Associates and constitute confidential information. However, we may be requested to make certain workpapers available to the City of Casselberry pursuant to authority given to it by law or regulation. If requested, access to such workpapers will be provided under the supervision of the City of Casselberry's personnel. Furthermore, upon request, we may provide photocopies of selected workpapers to the City of Casselberry or applicable grantor agencies. The City of Casselberry or applicable grantor agencies may intend, or decide, to distribute the photocopies or information contained therein to others, including other governmental agencies. Our fee for these services will be at our standard hourly rates plus out-of-pocket costs (such as report reproduction, typing, postage, travel, copies, telephone, etc.) except that we agree that our gross fee, including expenses, will not exceed $37,500 for the fiscal year ended September 30, 2003 (includes $7,500 for GASB 34 consulting); $33,500 for the fiscal year ended September 30, 2004 (includes $2,500 for GASB 34 consulting); and $31,000 for the fiscal year ended September 30, 2005. We will prepare the Financial and Compliance sections of the Comprehensive Annual Financial Report (CAFR). We will provide management with guidance to prepare the introductory, management discussion and analysis, and statistical sections. We will assemble the photo-ready CAFR and the City will be responsible for reproducing it. Our standard hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to your audit. Our invoices for these fees will be rendered each month as work progresses and are payable on presentation. In accordance with our firm policies, work may be suspended if your account becomes 30 days or more overdue and may not be resumed until your account is paid in full. If we elect to terminate our services for nonpayment, you will be obligated to compensate us for all time expended and to reimburse us for all out-of-pocket costs through the date of termination. The above fee is based on anticipated cooperation from you personnel and the assumption that unexpected circumstances will not be encountered during the audit. If significant additional time is necessary, we will discuss it with you and arrive at a new fee estimate before we incur the additional costs. 4