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Prelim/nary <br /> Draft <br />To l~e returned to <br />Deloitte Haskins & Sells <br />and not to be reproduced <br />in any form <br />without their perm/ss/, <br /> <br />' REPORT <br /> <br />~'iNANCIAL ACTIVITIE~ <br />ATTACHMENT 1 <br /> <br /> We have examined the statements of Project Costs Claimed and <br /> Status of Grant Fund Payments f°'r Grant No. 06-51-02857. for <br /> the period from January 4, 1977 to December 13, 1979 and <br /> tested financial transactions, accounts, reports and related <br /> supporting documentation. Our examination was made in <br /> accordance with generally accepted auditing standards and <br /> the standards for audit of financial transactions, accounts, <br /> and reports, as set forth in the auditing standards for <br /> governmental activities published by the Comptroller General <br />.of the United States, and accordingly, included such tests <br /> of the accounting records and such other auditing procedures <br /> as we considered necessary in the circumstances, including <br /> those set forth in the Department of Commerce Audit Instructions <br /> for Local Public Works Grants Under Title T of the Public Works <br /> Employment Acts of 1976 and 1977. <br /> <br />The aforementioned statements are required to be prepared in <br />accordance with the Department of Commerce audit instructions <br />referred to above; therefore, they are not intendeR-to <br />present either the financial results of operations or financial <br />position of grant funds in--conformity..with :generally-accepted <br />accounting Principles ~ <br /> <br />The aforementioned statements set forth ~9,891 of auditor <br />questioned costs, as .well as the undetez~ined effect of a <br />contractor dispute described in Note C. The final deter- <br />mination as to whether questioned costs are allowable under <br />the tez~ns of the grant agreement will be made by EDA. <br /> <br />In our opinion, subject to the ultimate disposition of the <br />questioned costs and the effect, if any, of the matter <br />discussed in Note C, the aforementioned statements of grant <br />costs present fairly the budgeted costs and costs claimed, <br />and the status of grant funds for Grant No. 06-51-02857 for <br />the period from JanUary N, 1977 to December 13, 1979 in <br />confo~vnity with the Department of Commerce audit instructions <br />referred to above and the specific financial terms of the <br />grant agreement. <br /> <br />December 21, 1979 <br /> <br /> <br />