Authorizing the expenditure of $5,000 by the Department of Human Resources for an audit fo the Community Development Block Program

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P. M.M.& CO. Proposal and Contract Between Community Development Program of the City of South Bend and Peat, Marwick, Mitchell & Co. for Audit Services JAN 19 1977 This Agreement, entered into as of the 24th day of January, 1977, by and between the Cummunity Development Program of the City of South Bend (hereinafter called the Local Public Agency), and Peat, Marwick, Mitchell & Co., (Independent Public Accounting firm) of 345 Park Avenue, New York, with offices at 202 South Michigan Street, South Bend, Indiana, (hereinafter called the "Contractor "), WITNESSETH: WHEREAS the Local Public Agency entered into a contract (contracts) with the United States of America ( "Government ") acting by and through the Secretary of Housing and Urban Development ( "Secretary ") for financial assistance under The Housing and Community Development Act of 1974; and WHEREAS pursuant to said contract(s), the Secretary and Comptroller General of the United States or his duly authorized representatives have the right to audit the books and records of the Local Public Agency pertinent to its operations with respect to such financial assistance; and WHEREAS the Secretary has authorized the Local Public Agency to procure an audit by an Independent Public Accountant in lieu of such audit by the Secretary, subject to his prior approval of the specific contract for audit entered into between the Local Public Agency and the Independent Public Accountant; and WHEREAS the Local Public Agency desires the Contractor to conduct and perform such an audit; NOW, THEREFORE, Local Public Agency and the Contractor do mutually agree as follows: 1. The Contractor shall audit the accounts and records of the Local Public Agency for the 24 month period from January 1, 1975 to December 31, 1976, in accordance with generally accepted auditing standards and the auditing and reporting provisions of HUD Handbook IG 6505.2, Audit Guide and Standards for Community Development Block Grant Recipients for Use by Independent Public Accountants, or such other applicable requirements as the Secretary may here- after establish for said Program, herein called the Audit Guide. The audit performed shall be sufficient in scope to enable the Contractor to express an opinion in the audit report on the financial statements of the Local Public Agency.