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� �aparicci S�Laxson Certifiec�Public Acco�c�z�c��2ts INDEPENDENT AiJDITDRS'IZ.EP�IZT To th�Honarable Ma�ar a�d Members af�it-��u�ci1 �f th e�ity of I�e dwo�d�it� I�ed�nrood�it�r, �alifornia �Ve have �t�dite�l the a�c�mpan�ring financial state�ents of the gavernmental activities, the business-type activities, ea�h majar fur�d, and the �g�regate remai�.ng f-un�1 informati�n af the City �f I�edw��d �ity, �alif�rnia ��ity}, as �f ar�d f or t11e �ear ended June 3�, ��7, which Callectivel� comprise the �ity's basi� firtancial stat�mer�ts as listed irt tlze table of contents. Th�s� fir�aricial stat�m�nts a.r� the responsibility of the �ity's managemer�t. �ur r�sponsibil�.ty is t� express ar� opir�iar� �n thes� fi�n.ancial statements based on ��ur au�lit. �e condu�ted ou.r auclit in ac�arda.nce with generall�r ac�epted auditing standards in the Ur�.t�d States and the standards applicable to financial a�ta.dits contained in �over�rnert� A�ditirtg Standc�rds, issued b�r the ��mptroller G�ner�.l. of the Unit�d States. Th�s� standarcls require that vire plan and perform the a�.d.it to o�btain reas�na�le assurance ab�ut wh�th�r th� fina.ncial statements are free �f mate�ial misstateme�t. Ar� a-t�.dit i��ludes e��mir�in g, on a test basis, ��rid�nce s-upp�rt�ing the amounts and dis�l�su.res in the fir�ar��ial stat�m�rits. A.�audit also�.ncludes assessir�g the accaunting principles used a.nd signifi�ant estimat�s made by management, as w��1 as evaluating the overall basic financial statem�nt pres�ntation. �e �elieve that our aud�.t pr�vides a reasonable basis f or aur apin�.ans. . _I� our opini�n, the fit�ari�ial statements ref erred t� above pres�r�t f a1r1�r, ir�a11�naterial resp�cts, th�respective fi�an�ia.1 p�sition �f the g�verr��nta1 ��t1V1t1�5� th� business�-t�pe activities, �a�h �aj�r fu�d, an� the a ggr�gate remair�ing fund �.nf ormatio� of the City as of Tune 3�, ��7, and the resp ective �ha�ges �n f�nancial pasition, and �nrhere applic�ble, cash flaws thereof f�r the ye�r then ended in cor�formit�r with generally a��epted accounting principl�s in the Ur�it�c1 States. Iri acc�rdanc� with �overnm�nt A�x�litir�g Sta�dards, �ve have alsa issued �ur rep�rt dated �ctober 19; ��7 a� �ur ��nsideration of the �ity's internal contr�l �ver financial reportx.ng and �n our tests of its ��mplian�e �v1th certain provxsi�ns �f laws, r�g�xlat1QI15r ��1�l�'a.CtS� an�. grants. The purp�se of that report is t� describe th� scope af our test�ng of internal �or�tr�1 �ver fin�.cial report�.ng and c�mp�iance and the results of that t�stir�g and not t� provide an apinio� �r� the internal c�n�r�l o�rer financial reportiizg or an complian�e. That report is an integral part af an audit performed in acc�rdan�e �nrit�i. Govern�r�e�.tc�� 14�t�c�iti�tg S��rt�c�rds and sh�uld b�read in conjur�ction with this rep�rt in considering the results�f�ur au�.it. Toll Free Pl�:�577)SG�-��❑D 1 Tall Free Fax:�BCG]43G-�9�7 �akland. �rang�Car�nty �aeca�xxa�nta 5�a�ieg� �8�GrandAve.,5uite 13G5 9 Corpvrate Park,5uite I�0 777 Campus Cvmmans Rd.,Suite?�0 �858 Mercury,Suite 1�G �a1�Iand,California��G12 Irvine,Califarnia 92G0G Sacramento,C�Ii�orni�958?5 5an Diegv,Ca�i.�arnia 9?�.1I