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City of Casselberry <br />City Manager <br />March 20, 2018 <br />95 Triplet Lake Drive, Casselberry, Florida 32707 • Telephone (407) 262-7700, Ext. 1130 <br />Fax (407) 262-7745 • Email jnewlon@casselberry.org <br />The Honorable Mayor and Members of the City Commission <br />City of Casselberry <br />Casselberry, FL 32707 <br />Dear Mayor Glancy and Commissioners: <br />Florida Statutes require that all general-purpose local governments publish a complete set of financial <br />statements presented in conformity with generally accepted accounting principles (GAAP), and audited in <br />accordance with generally accepted auditing standards by a firm of licensed certified public accountants. <br />Pursuant to that requirement, we hereby submit the Comprehensive Annual Financial Report of the City of <br />Casselberry, Florida and its Community Redevelopment Agency (a component unit) for the fiscal year <br />ended September 30, 2017. <br />This report consists of management's representations concerning the finances of the City of Casselberry. <br />Consequently, management assumes full responsibility for the completeness and reliability of all of the <br />information presented in this report. To provide a reasonable basis for making these representations, <br />management of the City of Casselberry has established a comprehensive internal control framework that <br />is designed both to protect the government's assets from loss, theft, or misuse and to compile sufficient <br />reliable information for the preparation of the City of Casselberry's financial statements in conformity with <br />GAAP. Because the cost of internal controls should not outweigh their benefits, the City of Casselberry's <br />framework of internal controls has been designed to provide reasonable rather than absolute assurance <br />that the financial statements will be free from material misstatement. As management, we assert that, to <br />the best of our knowledge and belief, this financial report is complete and reliable in all material respects. <br />The City of Casselberry's financial statements have been audited by MSL, CPAs & Advisors, a firm of <br />licensed certified public accountants. The goal of the independent audit was to provide reasonable <br />assurance that the financial statements of the City of Casselberry for the fiscal year ended September 30, <br />2017 are free of material misstatement. The independent audit involved examination of evidence, on a test <br />basis, supporting the amounts and disclosures in the financial statements; assessment of the accounting <br />principles used and significant estimates made by management; and an evaluation of the overall financial <br />statement presentation. Based upon the audit, the independent auditor concluded that a reasonable basis <br />existed to render an unmodified opinion that the City of Casselberry's financial statements for the fiscal <br />year ended September 30, 2017 are fairly presented in conformity with GAAP. The independent auditor's <br />report is presented as the first component of the financial section of this report. <br />GAAP requires that management provide a narrative introduction, overview, and analysis to accompany <br />the basic financial statements in the form of Management's Discussion and Analysis (MD&A). This letter of <br />transmittal is designed to complement MD&A and should be read in conjunction with it. The City of <br />Casselberry's MD&A can be found immediately following the report of the independent auditors. <br />iv <br />