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Voto, Tautges, Redpath & Co., Ltd. <br />Page 2 <br />5. There are no: <br />a) Violations or possible violations of laws or regulations <br />whose effects should be considered for disclosure in the <br />financial statements or as a basis for recording a loss <br />contingency. <br />b) Other material liabilities or gain or loss contingencies <br />that are required to he accrued or disclosed by <br />Statement of Financial Accounting Standards No. 5, <br />except as disclosed in the letter from our City <br />attorney. <br />6. There are no unasserted claims or assessments that the City <br />attorney has advised us are probable of assertion and must <br />be disclosed in accordance with Statement of Financial <br />Accounting Standards No. 5. <br />7. There are no material transactions that have not been pro- <br />perly recorded in the accounting records or related data <br />underlying the financial statements. <br />8. The City has satisfactory title to all owned assets, and <br />there are no unrecorded liens or encumbrances on such assets <br />nor have any assets been pledged. <br />9. All material inventories have been accurately tabulated and <br />stated on the first -in, first -out method and properly pre- <br />sented in the financial statements of the City. <br />10. The City has complied with all aspects of contractual <br />agreements that would have a material effect on the finan- <br />cial statement in the event of non-compliance. <br />11. No events have occurred subsequent to the balance sheet date <br />that would require adjustments to, or disclosure in, the <br />financial statements. <br />Randy Schumacher, <br />City Administrator <br />C� -ao-88 <br />Date <br />Paula M. Romocky, <br />City Accountant <br />Date <br />