08231993 Regular Meeting - Laserfiche WebLink

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I 37 I 5ll ERNST & YOUNG . Frost Bank Tower - Phone: 5 ¡ 2 228 9696 Suite 1900 Fax: 5125540252 100 West Houston Street San\ntonío, Texas 78205 ¡"ail Address: Post Office Box 2938 San\ntonio, Texas 78299 July 6, 1993 , i Mr. Larry D. Gilley, City Manager City of San Marcos 630 East Hopkins San Marcos, Texas 78666 Dear Mr. Gilley: This letter is presented in accordance with paragraph 11.1 of the agreement between the City and Ernst & Young dated July 14, 1992, covering auditing services in connection with the City's annual audit requirements for the years ending September 30, 1992 through September 30, 1996. This letter provides for the changes required regarding the charges for our services and complies with paragraph 10.1 which provides that the agreement may be amênded only by written instrument signed by both the City and Ernst & Young (Auditor). The conditions of the agreement should remain the same except for the following provisions: In paragraph 11.1, the fiscal year to which this letter applies is the year ending September 30, 1993. Other paragraphs that refer to the fiscal year ending September 30, 1992 are also changed to read September 30, 1993. In paragraph 11.1 the basic fee is changed from $44,000 to $50,000. In paragraph 11.2.1, the hourly rates for 1993 shall be as follows: Partner $160.00 per hour Senior Manager $115.00 per hour Manger $ 85.00 per hour Audit Senior $ 48.00 per hour Audit Staff $ 34.00 per hour Making precise time estimates for Additional Services as deEned in paragraph 1.6 can be very diftïcult, due to the high degree of professional judgment required to resolve certain matters that come to the Auditor's attention. Therefore, the last sentence of paragraph 11.2.1 is restated to require that the Auditor infonn the City Manager and the Director of Finance, as representatives of the City, of matters requiring Additional Services, and they shall work with the Auditor to