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AUDITOR's RESPONSIBILITIES FOR THE AUDIT OF THE .FINANCIAL: STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial. statementsas a whole are. ! free from material misstatement:. whether due' to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance; but is not absolute assurance and, therefore.. is not a guarantee that an audit conducted in accordance -with generally accepted. auditing standards and Gouer>tinei7t.Atidiiiiig.Stai?dar"ds will always detect a material misstatement when it exists. 'The risk of not detecting a material misstatement resulting from fraud Is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are .considered material if there: is a substantial likelihood that. individually or in the.aggregate they would influence the jutigeirieiit made by a reasonable user based on the financial statements. µ In performing an. audit irtr accordance with generally accepted. auditing standards and Gbventrtieni* Auditing.Slandar,*., we:: • Exercise professional judgment and niaintaiif ptofessional skepticism throughout the. audit, • Identifv and assess the%risk$�.of material misstatement of the statements; whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures- include examining; on a test basis, evidence regarding the amounts and disclosures in the financial statenietits: • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the* circur6stances, but not for the purpose of expressing an opinion on the effectiveness Of the City's internal control. Accordingly', .no such .opinion is expressed. • Evaluate the appropriateness. of accounting policies. used and the reasonableness of*s gnificant accounting. estimates made. by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgement, there are conditions or events, considered iii the aggregate, that"raise substantial doubt -about the City's ability to continue as a going concern for a reasonable period of time.. We are: required to coMmui*ate with those-charsed with governance regarding, among other matters, the planned .scope. and timing. of- the audit,. significant audit findings, and certain internal. cor#trol related matteFs that we identified during the. audit, REQUIRED SUPPLEMENTARY IN1:OI01AT16N Management has omitted the management's discussion and analysis than accounting principles.generally accepted in the .United States of America require to be presented to supplement the basic financial statements. Such missing infoiniation, aithoiggli not a part..of the basic financial .statements; is required.by the Go.vernmentdl Accounting Standards Board, wlio considers it to be -an essential. part .of financial reporting for placing the. basic financial statements in an appropriate operational, *econoin`ic, or histbkical context. Our opinion -on the basic financial statements is'not affected by this missing, information. (continued) -3=.