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<br />o <br />D <br />o <br />r; <br />(-:1 <br /> <br />o <br /> <br />~ <br />r <br />[ <br />[ <br />10 <br />B <br />[ <br />f:4. <br />L <br />,0 <br />i~ <br />I <br />i8 <br />! <br />i <br /> <br /> <br />iE <br />i6 <br />;BI <br />: ' <br />, <br /> <br /> <br />C~ ofCenterville <br />May 3, 2007 <br />Page Two <br /> <br />A material weakriess is a significant deficiency, or combination of significant deficiencies, that result in more than a remote <br />likelihood that a material misstatement of the financial statements will not be prevented or d '". by the City's internal control <br />The finding reported is not considered a material weakness. We identified the following de ,internal control that we <br />consider to be a material weakness. - <br /> <br /> <br />Maintenance of the Accounting System <br /> <br />As part of obtaining reasonable assurance about wh <br />tests of the City's compliance with certain provisions 0'- . <br />tests was not to provide an opinion on compliance with <br /> <br />ofmaterial misstatement, we performed <br />ts. However, the objective of our <br />noncompliance. <br /> <br />Sqpuoeant Accounting Pollcies <br /> <br />Management has the responsib~ f1 <br />engagement letter, we will advise <br />significant accounting policies <br />were adopted and the appli <br />transactions entered into <br />standards, we are required to inf1 <br /> <br />. In accordance with the terms of our <br />ess of acco g policies and their application. The <br />1 to the financial statements. No new accounting policies <br />during the year ended December 31,2006. We noted no <br />t and unusual, and of which, under professional <br />18 a lack of authoritative guidance or consensus. <br /> <br />Accoun . <br />knowl <br />parti <br />affecting tb <br />capital asset b <br /> <br />cia! statements prepared by management and are based on management's <br />d assumptions about future events. Certain accounting estimates are <br />financial statements and because of the possibility that future events <br />. Tlle most significant estimate affecting the financial statements were <br /> <br />Management's . . <br />based on cm:rent rep <br />this estimate in determining <br /> <br />based on estimated useful lives of the assets. Management's estimated historical cost is <br />to the year acquired. We evaluated the key factors and assumptions used to develop <br />nable inrelation to the financial statements taken as a whole. <br /> <br />952.835.9090 · }8x 952.835.3261 <br />www.ae.mcpas.com <br />