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4. An annual letter to management addressing any observations concerning the <br />internal control structure, as well as areas of potential economy and efficiency. <br />Consultant shall include any matters from the prior fiscal year(s) letter to <br />management that have not been addressed during the subsequent fiscal year to <br />the Consultant's satisfaction. In addition, this annual letter shall include a report <br />to management concerning material weaknesses and/or reportable conditions, if <br />any, as defined by the AICPA. <br />South Bayside Waste Management Authority <br />1. Financial Audit — The Consultant shall review all financial records and fund of <br />SBWMA and prepare a separate financial statement, in accordance with auditing <br />standards generally accepted in the United States of America, the standards set <br />forth for financial audits contained in Government Auditing Standards issued by <br />the Comptroller General of the United States, as well as other applicable laws, <br />regulations and rules. Consultant shall use the general ledger information <br />provided to prepare the necessary financial statement and footnotes for the <br />separate statement. <br />2. SCO Report— California State Controller's Annual Financial Transactions <br />(SCO) Report- Consultant shall prepare and submit the California State <br />Controller's Annual Financial Transaction Report. <br />3. Calendar year review and financial statement- The Consultant shall prepare <br />financial statements and issue a review report for each calendar year. <br />4. Management Report- An annual letter to management addressing any <br />observations concerning the internal control structure, as well as areas of <br />potential economy and efficiency. Consultant shall include any matters from the <br />prior fiscal year(s) letter to management that have not been addressed during the <br />subsequent fiscal year to the Consultant's satisfaction. In addition, this annual <br />letter shall include a report to management concerning material weaknesses <br />and/or reportable conditions, if any, as defined by the AICPA. <br />Following completion of the audit of the financial statements, schedules, supplementary <br />financial information and other information as outlined above, Consultant shall, at a <br />minimum, issue the following reports: <br />1. Auditor's Opinion report on the fair presentation of the SBWMA's basic <br />financial statements in conformity with accounting principles generally accepted <br />in the United States of America, and the standards applicable to financial audits <br />contained in Government Auditing Standards, issued by the Comptroller General <br />of the United States. An electronic copy of all reports and fifteen (15) printed <br />copies of the financial statement shall be delivered to SBWMA. <br />Page 16 of 21 <br />REV: 5-23-19 PR <br />ATTY/AGR.2019.141 /Maze — Auditing Services <br />