04-1478 Annual Financial Report - Laserfiche WebLink

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1870 Aloma Avenue Suite 120 Winter Park, Florida 32789 Tel 407-599~7055 FAX 407-599-7054 Hards, Cotherman, O'Keefe & Associates 5070 North A1A Suite 250 Veto Beach, Florida 32963 Tel 772-234-8484 FAX 772-234-8488 465 Summerhaven Drive Suite D DeBary, Florida 32713 Tel 386-668-3328 FAX 386-668-3327 INDEPENDENT AUDITORS REPORT The Honorable Mayor and Members of the City Commission City of Casselberry, Florida We have audited the accompanying financial statements of governmental activ'rties, business- type activities, each major fund and the aggregate remaining fund information of the City of Casselberry, Florida (the "Citf) as of and for the year ended September 30, 2003, which collectively comprise the City's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these financial statements based on our audit. 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business-type activities, each major fund and the aggregate remaining fund information of the City, as of September 30, 2003, and the respective changes in financial position and the cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. As described in note 16, during the year ended September 30, 2003, the City adopted Governmental Accounting Standards Board (GASB) Statement Nos. 34, 37, 38 and interpretation 6. In accordance with Government Auditing Standards, we have also issued our report dated January 31, 2004 on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit,