Agenda - Council - 07/14/1992 - Laserfiche WebLink

Home

I I I I ! I I I I I I i i I '1 I I City Council and ReSidents May 14, 1992 Page 3 o RepOrt all special assessments that are outstanding, including those certified but not yet levied. o Evaluate the cost of future oversizing of water and sewer lines in the Sewer and Water Enterprise Fund and adjust the designated fund balance accordingly. Required Communications Statement on Auditing Standards Number 61, "Communication With Audit Committees," requires the auditor to ensure that certain matters related to the conduct of an audit are communicated to those who have' responsibility for oversight of the financial reporting process. This letter constitutes Our communication of such matters. 1, The Auditor's Responsibility Under Generally Accepted Auditing Standards Generally accepted auditing standards require auditors to plan and perform audits to obtain reasonable, but not absolute, assurance about whether the financial statements are free of material misstatement. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. 2. Significant Accounting Policies There were no changes in significant accounting policies or their application during the year audited.~ 3. Disagreements With Management We hav,e no disagreements with management concerning the application of accounting principles, accounting estimates, the scope of the audit, disclosures in the financial statements, wording of the auditor's report, or any other matter significant to the City's general purpose financial statements. Difficulties Encountered in Performing the Audit We encountered no difficulties in dealing with management relating to the performance of the audit.