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Tautges, Redpath & Co., Ltd. <br />Representation Letter, Page 2 <br />b) Other material liabilities or gain or loss contingencies that are required to be accrued <br />or disclosed by Statement of Financial Accounting Standards No. 5, except as <br />disclosed in the letter from our City attorney. <br />c) Reservations or designations of fund equity that were not properly authorized or <br />approved. <br />6. There are no unasserted claims or assessments that the City attorney has advised us are <br />probable of assertion and must be disclosed in accordance with Statement of Financial <br />Accounting Standards No. 5. <br />7 . There are no material transactions that have not been properly recorded in the accounting <br />records or related data underlying the financial statements. <br />8. The City has satisfactory title to all owned assets, and there are no unrecorded liens or <br />encumbrances on such assets nor have any assets been pledged. The City does not have <br />tide to leased computer equipment. <br />9. All significant (material) inventories of the Proprietary Fund types have been recorded <br />and disclosure has been made with regard to valuation basis. <br />10. We are responsible for the City's compliance with laws and regulations applicable to it; <br />and we have identified, and disclosed to you, all laws and regulations that have a direct <br />and material effect on the determination of financial statement amounts. We have <br />complied with all aspects of laws, regulations, and contractual agreements that would <br />have a material effect on the financial statements in the event of noncompliance, except <br />for instances of noncompliance with grant contract provisions, laws, and regulations <br />included in the Schedule of Fmdings and Questioned Costs and your report on <br />compliance with laws and regulations related to financial assistance programs. <br />11. No events have occurred subsequent to the balance sheet date that would require <br />adjustment to, or disclosure in, the financial statements. <br />12. With respect to federal financial assistance programs: <br />a. We have identified in the schedule of federal financial assistance all assistance <br />provided by federal agencies in the form of grants, contracts, loans, loan guarantees, <br />property, cooperative agreements, interest subsidies, insurance, or direct <br />appropriations. <br />b. We have identified the requirements governing political activity, the Davis -Bacon <br />Act, civil rights, cash management, relocation assistance and real property <br />management, federal financial reporthallowable costs/cost principles, drug -free <br />workplace, and administrative requirements over federal financial assistance. <br />C.T5 <br />