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lartuary.7; WO}. City of Gene Lake Page ? Audit objectives The objective ol'our audit is the expression of opinions asto whether your basic financial statements arefairly presented. in all material respects. in conformity :with U.S generally accepted accounting principles and to report on the fairness of the additional information .referred to in the first paragraph when considered in relation to the: basic financial statements taken as a whole. Our audit will be conducted in accordance with U,S generally accepted auditing standards and the standards for financial audits contained in Government Auditing S(Uirdlut clY. issued by the Comptroller General of the United States, and will include testsof the accounting records of the City of .Gera Lake and other procedures we consider necessary to enable us to express such opinions. if our opinions on the financial statements are other than unqualified, we will fully discuss the reasons with you in advance: If, for any reason, we arc unable to complete the audit or are unable to form or have not formed opinions. we may decline to express opinions or to issue a report as a result ofthis engagement We will also provide a report (that does not include an opinion) on internal .control related to the financial statements aiid compliance with he provisions of applicablelaws,regulations, contracts, agreements; and grants, noncoinpliance with which could have a material effect on the financial statements asrequited by Government .4luelrtrtig standards The reporton internal control and compliance will include a statement that the report is intended solely for the information anduse of the audit committee, management, and specific legislative or regulatory bodiesand is not intended to be and shouldnot be used by anyone other than these specified parties. If during our audit we become aware that the City of Gem Lake is subject to an audit requirement that is not encompassed in the termsof this engagement, we will communicate to management and those charged with governance thatan audit in accordance with U.S.. generally accepted auditing standards and the standards for financial audits contained in Government /bullring Standen -di niay not satisfy the relevant legal, regulatory. or contractual requirements. Management responsibilities Management is responsible for establishing andmaintaining: internal controls,including monitoring ongoing activities: for the selection and application of accounting principles; and for the fair presentation .iir the financial statements of the respective financial position of the governmental activities, the business -type activities, the aggregate discretely presented component units. each major fund, and the aggregate retraining find information of the City of Gent Lake and the respective changes in financial position and cash flows, where applicable_ in conformity with U.S_ generally accepted .accounting principles Management is responsible for the basic financial: statements and allaccompanying information as well as all representations contained therein You are.responsible for management decisions and. functions Management is responsible for making all financial records and related: information 'available .to us and for the accuracy and completeness of That information_.Managernent's responsibilities include adjtisting the financial statements to correct material misstatements and for confirming to us in the representation letter that the effects of any :uncorrected misstatements aggregated byus during the current engagement and pertaining to the. latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken asa whole.