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". . . To thelionorable Mayor:and Members.of..City.CounciL .:: . .of the CIty of Reclwood City . ~edw()od City, California Page Two As descr.ibed.: in:.. Nate.1 to the basic. fi.na.n:daI sta.tem.ents, the; City adopted Statement ~i Gc.wcrnmentaJ Accounting , Standards- ::Board No. 45,. Accounting and. : Finandal Reporting by' Employers for ., Postemployment. BenefitS (OPEB) other thanPensionsi No; 48, Sales andiPledges of Recej~ables and Fllture Revenues and. Intra~Entity Transfers of Assets andFuture Revenues. an.d .'No~.;SO, . Pension Disclosures, an .:. .A1n:endmei1.t ofGASB. Statm;nents No.:25.and No. 27. . .. ' "In acc~Td~mce: with Govemmellt'- Auditing:Standards, VJe have also issued. our report dated' December 3, . .2008 on OUT consideration' of the City's interna.I control ovcr financial reporting and on our tests.:of its .~ompliance with iccrtain provisionS of laws, regulatiqns, contracts, and grants. The purpose of that report i,s: to dcscribe'the scope of our testing of internal: control over finanCial .reporting and. compliance and the:. iresults of that testing arid not to provide an. opinion on the internal. control over financial reporting or on. . compliance. That report is. an.: integral part. of a.n a.udit performed in accordance with Governmental Auditing Standards and .should be read in cOIl.junction \Vith this r.eport.in considering the results of ~ur audit. , .. . .' . . ..' . . . . The accOrrlpanying Required .stipplementary)lnfo~ation.~: sud~ .as Management's -ois~ssion and Analysis, budgetary comparison information and other infarmation, is :I\Of.a.:.required .partiof the : basic financial statemellts; but.is .supplementary information required by..the Governmental.Accountiilg Standards Board of the United States: We; have applied c.ertai~ limited. pracedures; which co~isted principally .of inquiries of management regarding the methods;.ormeasuren1ent and pTesent~ti(Jn of the Required. Supplementary I.nform.ation., .l:;Iowever, \",7e.did not audit ~e infarmation and express no.opinimi an it. . . .. . .. 'Our .a.udit.was cond:ucted for th~.pU1.phse of. forming. opinions on.the financial statements that collectively.. comprise the City's basic financial..statements. . The : accompanying.; Introductory Section,Supplementary l.nforma~iort"and Statistical Section ar~ presented for.purposes..ofacilditlonal 'analysi:s.a'nd are 110t a required part df:the basic financial. statements.. The Supplementaryilnformation has been :subjected to the auditing . procedures applied in the .a.ud~t of the baSi~..finar.d~d statement'; 'and~ in our opiriiqn, i"sJairly stated in an materia.I. r.espects in/elati,on:.to";th~basic.:flna~dal.,~tab~ments taken.":as:3 whole~:. The. Introductory' and Sta.tistlcal. Sections hilVe not been .subjected . to: the auditing' proced!-lres applied in the audit of the . basic : f~nandal statemerits and, accordingly ; we express no:Opinion on them. . .. . . .. .. . ... . I ... . . :'.~~~. f i~. .. . . Oakfal'& CalHornia: : . December 3,2008... >; in , .i- ", . .; .:. 'j ,. , ... .. ... '!: , ! . .