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August 9,2021 <br /> City of Decatur <br /> Page 13 <br /> you against us must be commenced within twenty-four(24) months("Limitation Period")after the date when <br /> we deliver our final audit report under this agreement to you, regardless of whether we do other services for <br /> you relating to the audit report,or you shall be forever barred from commencing a lawsuit or obtaining any legal <br /> or equitable relief or recovery. <br /> The Limitation Period applies and begins to run even if you have not suffered any damage or loss,or have not <br /> become aware of the existence or possible existence of a Dispute. <br /> Fees <br /> Our professional fees will be billed based on the time involved and the degree of responsibility and skills <br /> required.We will also bill for expenses(including internal and administrative charges) plus a technology and <br /> client support fee of five percent(5%)of all professional fees billed.The base professional fees will be$75,600 <br /> and the technology fee will be$3,780. These fees include up to two major programs in the single audit.These <br /> estimates are based on anticipated cooperation from your personnel and their assistance with preparing <br /> confirmations and requested schedules. If the requested items are not available on the dates required or are not <br /> accurate,the fees and expenses will likely be higher. If unexpected circumstances require significant additional <br /> time,we will advise you before undertaking work that would require a substantial increase in the fee and <br /> expense estimate. <br /> Unanticipated services <br /> We do not anticipate encountering the need to perform additional services beyond those described in this <br /> letter. Below are listings of services considered to be outside the scope of our engagement. If any such service <br /> needs to be completed before the audit can proceed in an efficient manner,we will determine whether we can <br /> provide the service and maintain our independence.If appropriate,we will notify you and provide a fair and <br /> reasonable price for providing the service.We will bill you for the service at periodic dates after the additional <br /> service has been performed. <br /> Bookkeeping services <br /> Bookkeeping services are not audit services.Bookkeeping services include the following activities: <br /> • Preparation of a trial balance <br /> • Account reconciliations <br /> • Bank statement reconciliations <br /> • Capital asset accounting(e.g.,calculating depreciation, identify capital assets for additions and <br /> deletions) <br /> • Calculating accruals <br /> • Analyzing transactions for proper recording <br /> • Converting cash basis accounting records to accrual basis <br />