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<br /> <br />SMITH Tammy D <br />From:CUTSOGEORGE Sue L <br />Sent:Thursday, May 26, 2011 3:44 PM <br />To:TINTLE Robert D; LAUDERBACH Douglas K; MILLER Twylla J <br />Cc:SMITH Tammy D <br />Subject:Re: Questions around the outside auditor work re compliance with the bond resolution <br />Doug - please see the string of notes below. You (and others!) were probably not aware of the limitation on use <br />of street bond proceeds. Can you please prepare a JE to move the costs of the auditor to 131 as Robert sets out <br />below. Thanks. Sue <br /> <br />Sent from my iPhone <br /> <br />On May 26, 2011, at 2:25 PM, "TINTLE Robert D" <Robert.D.Tintle@ci.eugene.or.us> wrote: <br />Sue – Sorry for the confusion on the posting of the street bond “audit” costs. <br /> <br />PW originally posted the FY10 audit costs to 343-9911-61800, but a correcting JE was prepared <br />during the year-end process and Financial Reporting AJE’d the expense to 343-9911-89914, as <br />detailed below: <br />Doug Lauderbach created the JE on 08/13/2010. <br />Scott Fuchise approved the JE on 08/13/2010. <br />JE#0000071674 (period 998) was created with the description: “Correct account code for debt <br />issuance costs - DKL.” <br /> <br />LineFundOrgAccountProjectGrantAmountJournal Line Description <br /> <br />3 343 9911 61800 -4,000.00 Professional Services <br />4 343 9911 89914 4,000.00 Bond Issuance Costs <br /> <br /> <br />For this year’s audit cost, Tammy Smith was aware that CS Financial Reporting corrected where <br />the expense was posted last year and posted it to #89914 once again. So, there have actually <br />been two years worth of audit costs ($9,000) posted to bond issuance costs. I don’t know why <br />the AJE was prepared at the end of FY10. <br /> <br />If CS Finance/Financial Reporting agrees that it should be coded outside of fund 343, you can <br />post these costs to 131-8910-61800. Would you like us to prepare an adjusting entry for the two <br />years or would Financial Reporting like to JE the expenses? Also, I want to make sure Financial <br />Reporting is aware of the limitation as well so that at the end of FY11 there isn’t another <br />correcting JE. <br /> <br />Let me know how you would like us to proceed. Thanks for the copy of the email below from <br />the attorney. I appreciate it. I also found it humorous that Becky’s original guesstimate was <br />$2,000 for the agreed upon procedures. You know how I cringe at their $4,000 and $5,000 <br />costs! <br /> <br />Thanks again, <br /> <br />Robert <br />1 <br /> <br />