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<br />R <br />U <br />D <br />q <br />tl <br />C <br />8 <br />r.: <br /> <br />.' <br /> <br /> <br /> <br />[ <br />C <br />r:1 <br />l.J <br />EJ <br />[ <br />D <br />J~ <br />lj <br />i~ <br />18 . <br />l~ <br />6 <br />lo.! <br />iW <br /> <br /> <br />city of Centerville <br />May 3, 2007 <br />Page Four <br /> <br />Issues Discussed Prior to Retention of Independent Auditors <br /> <br /> <br />We generally discuss a variety of matters, including the application of accounting principles. <br />management each year prior to retention as the City's auditors. However, these discussi <br />professional relationship and our responses were not a condition to our retention. . <br /> <br />.. standards with <br />'<.' g , <br />in the normal course of our <br /> <br />Difficulties Encountered in Performing the Audit <br /> <br />We encountered no significant difficulties in dealing with management in <br /> <br />Other Matters <br /> <br />\~~t <br /> <br />The following are areas that came to our attention during the aumt that <br /> <br />Financial Position and Results of Operations <br /> <br />General Fund <br /> <br />which are not required legally or <br />alance increased $13,979 from 2005. <br />e total General fund budget is <br />cient to fund operations until the major <br />ildmately 4 50 percent of planned expenditures and <br />ency needs. At the current level, the fund balance is above <br /> <br />served :fund balance levels relative to expenditures as <br /> <br />Under 20% <br />21 - 34 <br />35 - 50 <br />51 - 64 <br />65 - 100 <br />101 - 150 <br />Above 150 <br /> <br />The State Auditor d <br />calculation is based 0 <br />designate intended use 0 <br /> <br />eral and special revenue funds of the City when making this c8.lcu1ation where our <br />era! fund. Although there is no legislation regulating fund balance, it is a good policy to <br />balance. This helps address citizen concerns as to the use of fund balance and tax levels. <br /> <br />952.835.9090 · Fax 952.835.3261 <br /> <br />www.aemcpas.com <br />