2003-12-23 CC Packet - Laserfiche WebLink

Home Browse Search

,,..' ...... ~. " November 20, 2003 Gnndview Square 5201 Eden Avmme Suite 370 Edina, MN 55436 Honorable Mayor and City Council City of Centerville 1880 Main Street Centervi11e, Minnesota 55Q38 Dear Honorable Mayor and City Council: We are pleased to confirm our understanding of the services we are to provide the City of Centerville for the year ended December 31, 2003. We will audit the financial statements of the City as of and for the year ended DeceDtber 31, 2003. We understand that the financial statements will be presented in accordance with the financial reporting model described in GASB Statement No. 34. Also, the document we submit to you will htclude the following additional infonnation that will be subjected to the auditing procedures applied in our audit of the financial statements: 1. Combining and Individual Fund Financial Statements Audit Objective The objective of our audit is the expression of an opinion as to whether your financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States of America and to report on the fairness of the additional information referred to in the first paragraph when considered in relation to the financial statements taken as a whole. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America and will htclude tests of the accounting records and other procedures we consider necessary to enable us to express such an opinion. If om opinion on the financial statements is other than unqualified, we will fully discuss the reasons with you in advance. It; for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or to issue a report as a result of this engagement Management Responsibilities Management is responsible for making all financial records and related information available to us. We understand that you will provide us with such information required for our audit and that you are responsible for the accuracy and completeness of that information. We will advise you about appropriate accounting principles and their application and will assist in the preparation of your financial statements, but the responsibility for the financial statements remains with you. That responsibility htcludes the establishment and maintenance of adequate records and effective internal control over financial reporting, the selection and application of acCounting principles, and the safeguarding of assets. Management is responsible for adjusting the financial staten1ents to correct material misstatements and for confirming to us in the representation letter that the effects of any uncorrected misstatements aggregated by us during the cmrent engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken as a whole.