May 13, 2024
To the Honorable City Council
City of Murrieta, California
We greatly appreciate your continued partnership with RAMS. Through our first year of our audit contract with the City, we have strived to provide you with exceptional service and support.
As you are aware, the costs of living and wages have been steadily increasing, impacting our operational expenses. Regrettably, these rising costs were not anticipated at the time of our initial proposal. In order to maintain the high quality of service you have come to expect from us, we find it necessary to adjust our fees accordingly.
Therefore, effective with the fiscal year 2024 audit, there will be an annual increase of 5%. This adjustment is essential to ensure that we can continue to meet your needs and deliver the level of service you deserve. Attachment A shows the change for each fiscal year.
We understand that any increase in fees may present challenges, and we want to assure you that we remain committed to providing you with the best value for your investment. We believe that the quality and reliability of our services justify this adjustment.
Please feel free to reach out to us if you have any questions or concerns regarding this fee increase. We value your feedback and are dedicated to addressing any issues you may have.
Thank you for your understanding and continued support. We look forward to continuing our successful partnership.
Respectfully,
Attachment A
Contract price 2024 2025 2026 2027
City audit 31,000 $ 32,000$ 32,000$ 33,000$ Appropriations Limit AUP 800 830 830 850 Single audit ($4,000/addtl program) 5,000 5,200 5,200 5,400 ACFR preparation 6,000 6,200 6,200 6,300 State Controller's Report 4,500 4,760 4,760 5,020 Total not‐to‐exceed (previously contracted) 47,300 48,990 48,990 50,570 Adjusted fee with 5% increase 49,670 $ 51,440$ 51,440$ 53,100$