CRA Minutes 05/09/2008 - Laserfiche WebLink

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To the Board of Directors of The City of Casselberry, Florida Community Redevelopment Agency: We have audited the financial statements of International the City of Casselberry, Florida Community Redevelopment Agency (the "CRA") for the year ended September 30,2007, and have issued our report thereon dated March 27,2008. As required by auditing standards generally accepted in the United States of America (GAAS), we are providing you with the information shown below relative to the conduct of our audit. This report is intended solely for the use of the Board of Directors and management of the CRA and is not intended to be and should not be used by anyone other than these specified parties. OUR RESPONSIBILITY UNDER GAAS AND GOVERNMENT AUDITING STANDARDS Our responsibility under GAAS is to plan and perform our audit to obtain reasonable, but not absolute, assurance that the financial statements of the CRA are free of material misstatement and are fairly presented in accordance with accounting principles generally accepted in the United States of America. Because an audit is designed to provide reasonable, not absolute assurance and because we did not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and not be detected by us. As part of our audit, we considered the internal control of the CRA Such considerations were solely the purpose of determining our audit procedures and not to provide any assurance concerning such internal control. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we performed tests of the CRA's compliance with certain provisions of laws, regulations, and contracts. However, the objective of our tests was not to provide an opinion on compliance with such provisions. INDEPENDENCE We are familiar with Rule 101 of the AICPA's Code of Professional Conduct, and its interpretations and rulings. As far as the CRA is concerned, our firm has been, for the period covered by the financial statements under report and thereafter to date, in fact independent as contemplated by such Rule. SIGNIFICANT ACCOUNTING POLICIES Management is responsible for the selection and use of appropriate accounting policies. In accordance with the terms of our engagement letter, we will advise management about the appropriateness of accounting policies and their application. Note 1 to the financial statements of the CRA contains a summary of significant accounting policies. During the year ended September 30, 2007 no new significant accounting policies were adopted and the application of existing policies was not changed. We noted no transactions entered into by the CRA during the year that were both significant and unusual, and of which , under professional standards, we are required to inform you, or any significant transactions for which there is a lack of authoritative guidance or consensus.