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3 Miss Alma Lee Loy Auditor Selection Committee Indian River County April 14, 1980 per diem rates would amount to $59,780, or an average of $26,45 per man hour. This estimate contemplates a normal level of participation by your personnel. It appears, however, that certain of the accounting personnel are highly competent to render substantial assistance which could result in a reduction of the estimated number of hours required by our staff. We have not attempted to quantify the value of such assistance or the extent to which such assistance would be available. We would agree to this estimate as a maximum charge to the County with the under- standing that if our fee computed at our regular per diem rates for the acco•:ntants assigned to the work to satisfactorily perform the job amounts to less than $59,780, we would bill you for the lesser amount. Our estimate of the fee for performing the audit work is also based on the fact that no out-of-pocket expenses would be chargeable to Indian River County. These expenses would be absorbed by our firm. Specific personnel who will be participating in the engagement (and for whom we have previously provided background data) are as follows: Keith H. Morgan, Jr. - Partner in charge Michael W. Smith - Audit Manager John R. Ki :h, Jr. - Audit Senior John David Smith - Audit Senior K. Ward Saxon - Audit Senior 'Additional trained professionals shall be permanently assigned to the examination to complete the work in a timely and efficient manner. We understand that if we are engaged to perform the examination of the September 30, 1979 financial statements it is in the best interests of the County to also accept the contract for the -1980 and 1981 financial statements. Accordingly, we would expect to perform certain preliminary audit procedures with respect to fiscal 1980 transactions in connection with the 1979 examination. Fees in for such work would be separately - accumulated and billed. We understand that fees for the 1980 examination will be separately negotiated. We shall also be available for such additional services, nol a part of the examination, as required by the County including consultation and assistance in connection with the North County Water and Sewer and South County Water operations. We would discuss with you in advance the nature and scope of such services, including estimated fees, whi'_!i would be billed at our regular per diem rates. aoa . 43 FaGf 41U65'1-