2023 24 RESOLUTION - Laserfiche WebLink

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Village of Mayfield March 8, 2023 Page 6 • the identification and disclosure to the auditor of all laws, regulations, and provisions of contracts and grant agreements directly and materially affecting the determination of financial statement amounts; and • the absence of fraud involving management or employees with significant roles in internal control. Additionally, we will request representations, as applicable, regarding: • the inclusion of all components, and the disclosure of all joint ventures and other related organizations; • the proper classification of funds and fund balances; • the proper approval of reserves of fund equity; • compliance with laws, regulations, and provisions of contracts and grant agreements, including budget laws or ordinances; compliance with any tax or debt limits, and any debt covenants; • the identification of all federal assistance programs, and compliance with grant requirements; and • events occurring subsequent to the fiscal year end requiring adjustment to or disclosure in the financial statements. Management is responsible for adjusting the financial statements to correct misstatements we may detect during our audit and for affirming to us in the representation letter that the effects of any uncorrected misstatements we aggregate during our engagement and pertaining to the latest period the statements present are immaterial, both individually and in the aggregate, to the opinion units (Financial statements include the related disclosures and required and other supplemental information). TERMS AND CONDITIONS SUPPORTING FEE As a result of our planning process, the Village and the Auditor of State have agreed to an approach designed to meet the Village's objectives for an agreed-upon fee, subject to the following conditions. Our Auditor Resoonsibilibes In providing our services, we will consult with the Village regarding matters of accounting, financial reporting or other significant business issues. Accordingly, our fee includes estimated time necessary for this consultation. Circumstances may require the Auditor of State to confirm balances with your financial institution resulting in additional nominal charges which will not require an amendment to this agreement. However, should a matter require research, consultation or audit work beyond this estimate, the Auditor of State and the Village will agree to an appropriate revision in services and fee. These revisions will also be set forth in the form of the attached Amendment to Engagement Letter. Your Management Responsibilities The Village will provide in a timely manner all financial records and related information to us, an initial list of which has been furnished to you, including timely communication of all significant accounting and financial reporting matters, as well as working space and clerical assistance as mutually agreed upon and as is normal and reasonable in the circumstances. When and if for any reason the Village is unable to provide these schedules, information and assistance, the Auditor of State and the Village will mutually revise the fee to reflect additional services, if any, we require to achieve these objectives. These revisions will be set forth in the form of the attached Amendment to Engagement Letter. Confidential Information You should make every attempt to minimize or eliminate the transmission of personal information to the Auditor of State (AOS). All documents you provide to the AOS in connection with our services including financial records and reports, payroll records, employee rosters, health and medical records, tax records, etc. should be redacted of any personal information. Personal information includes social security numbers, date of birth, drivers' license numbers or financial institution account numbers associated with an individual. The public office should redact all personal information from electronic records before they are transmitted to the AOS. This information should be fully blacked out in all paper documents prior to sending to the AOS. If personal information cannot be redacted from any records or documents; the public office must identify these records to the AOS.