AgdaPkt 2002-01-14 - Laserfiche WebLink

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Maze & Associates Attachment 2 ACCOUNTANCY CORPORATION 1931 San Miguel Drive - Suite 100 Walnut Creek. California 94596 (9251 930-0902 · FAX (925) 930-0135 E-Mail: maze~,mazeassociates.corn To the Ci~ Council Webslte: www. mazeassociates.com City of Redwood City We have audited the financial statements of the City. of Redwood City for the year ended June 30. 2001, and have issued our report thereon dated November 2, 200 I. As part of our audit, we made a study and evaluation of the system of internal accounting control to the extent we considered necessary, to evaluate the system as required by generally accepted auditing standards. The purpose of our study and evaluation was to determine the nature, timing, and extent of the auditing procedures necessary for expressing an opmion on the financial statements. Our study and evaluation was more limited than would be necessary to express an opinion on the system of internal accounting control taken as a whole. Management is responsible for establishing and mamtainmg a system of internal accounting control, in fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of a system are to provide management with reasonable but not absolute assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any system of internal accounting control, errors or irregularities may nevertheless occur and not be detected. Also, projections of any evaluation of the system to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate. Our study and evaluation made for the limited purposes described in the first paragraph would not necessarily disclose all material weaknesses in the system. Accordingly, we do not express an opinion on the system of internal accounting control of the City. of Redwood City taken as a whole. Our study and evaluation disclosed no condition that we believe to be a material weakness. However. we did make minor procedural and administrative recommendations to City Staff. which have already been implemented. We wish to express our appreciation for the courtesies and cooperation extended to our representatives dUnng the course of their work. November 2, 2001 A Professional Corporation