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42 Peat Marwick Certified Public Accountants Peat Marwick Main & Co. 1300 One Capitol Square Telephone 512 478 7476 Telecopier 512 320 5100 300 West 15th Street Austin. TX 78701 June 6, 1990 PRIVATE Mr. Larry D. Gilley, City Manager City of San Marcos, Texas 630 East Hopkins San Marcos, Texas 78666 Dear Larry: We are pleased to submi t this letter related to our audits of the general purpose financial statements of the City of San Marcos, Texas (the City) for the yeal"@lo ending September 30, 1990 -4&£ 1991 and to the estimates of our fees. Our audits will be made in accordance with generally accepted auditing standards and accordingly will include such tests of the accounting records and such other auditing procedures as we consider necessary in the circum- stances for the purpose of expressing an opinion on the aforementioned general purpose financial statements. Generally accepted auditing standards are based on tests of the accounting records and accordingly do not include a check of all the day-to-day transactions, as this would be economically impractical. Therefore, it will be appreciated that the audits will not necessarily disclose all errors or irregularities, should any exist. Our professional fees for audits are based on the amount of time required to perform the agreed scope of work, plus reimbursement for expenses (report reproduction, postage, stationery, travel, overhead charges, computer usage, etc.). These estimates are based on the assumption that workpapers and other support requested by us will be provided on a timely basis by your personnel as they have in prior years. For the estimate, the only increase from the prior year fee arises from an adjustment made for increase in the consumer price index which approximated 5.23% (rounded) from March 1989 to March 1990. We estimate our audit fees will be as follows: Audit fee $ 42,100 Expenses 6.300 All inclusive fee $ 48.400 ~ààiti9n~~~¥, the fesa feF t¡~",1Eii1> fer tke ya~r enEiing gø~teæÐcr 30, 1991 I't."ill Bet inerease cJ[ee~t fer changcs in thc eenoUfl!.cr price iB.àex, eased eft the assYmptions beleu. Our estimates contemplate that no additional work will be required to satisfy ourselves on significant accounting problems that may unexpectedly arise during the' course of our audits. Additionally, our estimates assume that the scope of services proyided. by the City and operations of the City will not change significantly. Should such a situa- tion arise, we would discuss it with you before undertaking any additional work. Naturally, any additional time incurred for unexpected situations or special work will be billed in addition to the fee estimated above at a rate of $55 per hour. We plan on billing you as the audit work progresses and ex- pect payments two weeks thereafter. Member Firm of Klynveld Peat Marwick Goerdeler