Audit Report Letter 1995 - Laserfiche WebLink

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Tautges, Redpath & Co., Ltd. Representation Letter, Page 2 5. There are no: a) Violations or possible violations of laws or regulations whose effects should be considered for disclosure in the financial statements or as a basis for recording a loss contingency except for instances of noncompliance with grant contract 1 j,13 frc' provisions, laws, and regulations included in the Schedule of Findings and Questioned Costs and your report on compliance with laws and regulations related to financial assistance programs. b) Other material liabilities or gain or loss contingencies that are required to be accrued or disclosed by Statement of Financial Accounting Standards No. 5, except as disclosed in the letter from our City attorney. c) Reservations or designations of fund equity that were not properly authorized or approved. 6. There are no unasserted claims or assessments that the City attorney has advised us are probable of assertion and must be disclosed in accordance with Statement of Financial Accounting Standards No. 5. 7. There are no material transactions that have not been properly recorded in the accounting records or related data underlying the financial statements. 8. The City has satisfactory title to all owned assets, and there are no unrecorded liens or encumbrances on such assets nor have any assets been pledged. The City does not have title to leased computer equipment. 9. All significant (material) inventories of the Proprietary Fund types have been recorded and disclosure has been made with regard to valuation basis. 10. We are responsible for the City's compliance with laws and regulations applicable to it; and we have identified, and disclosed to you, all laws and regulations that have a direct and material effect on the determination of financial statement amounts. We have complied with all aspects of laws, regulations, and contractual agreements that would have a material effect on the fmancial statements in the event of noncompliance, except for instances of noncompliance with grant contract provisions, laws, and regulations included in the Schedule of Findings and Questioned Costs and your report on compliance with laws and regulations related to financial assistance programs. 11. No events have occurred subsequent teethe balance sheet date that would require adjustment to, or disclosure in, the financial statements.