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Communication to Those Charged with Governance <br />Accounting policies used and/or changed <br />•No significant accounting policies were changed during 2017 <br />•One new accounting standard was implemented during 2017 <br />–GASB 75 Accounting and Financial Reporting for Postemployment <br />Benefits Other Than Pensions <br />The liability for such benefits is now calculated differently <br />Implementing the standard resulted in a restatement to beginning equity in <br />the amount of $692,000 <br />Accounting estimates in the financial statements. <br />•The discount rate used to measure the net pension liability ($6,113,000) <br />No difficulties encountered in performing the audit. <br />No disagreements with management. <br />Other Matters <br />•Legacy at Woods Edge receivables <br />•Property tax collection rate –99.5% for 2017. <br />8