CRA Minutes 05/09/2008 - Laserfiche WebLink

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Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards To the Board of Directors of City of Casselberry, Florida Community Redevelopment Agency: We have audited the financial statements of the governmental activities and the major fund of City of Casselberry, Florida Community Redevelopment Agency (the "CRA") as of and for the year ended September 30, 2007, which collectively comprise the CRA's basic financial statements, and have issued our report thereon dated March 27, 2008. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Internal Control over Financial Reporting In planning and pertorming our audit, we considered the CRA's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the CRA's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the CRA's internal control over financial reporting. Our consideration of internal control was for the limited purpose described in the first paragraph and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. However, as discussed below, we noted certain deficiencies in internal control that we consider to be significant deficiencies. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of pertorming their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the CRA's ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the CRA's financial statements that is more than inconsequential will not be prevented or detected by the CRA's internal control. We noted a certain matter considered to be a significant deficiency in internal control over financial reporting, as described in Appendix A to this report. We did not audit the CRA's responses to this matter, which are also provided in Appendix A, and, accordingly, we express no opinion on them. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected by the eRA's internal controls. 16