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6.1 B C �T ATTF�' I�dIENT� L Caporicci & I.arson, Inc. A Subs/dtary of Mar�cum LLP Certified PublicAccountants INDEPENDENT AUDITORS' REPORT To the Members of the Boazd of Directors of the Redevelopment Agency of the City of Redwood City Redwood City, California We have audited the accompanying financial statements of the govemmental activities and each major fund of the Redeveloprnent Agency of the City of Redwood City (Agency}, a component unit of the City of Redwood City, as of and for the year ended Jwne 30, 2Q10, as iisted in the foregoing table of contents. These financial statements are the responsibility of Agency's management. Our responsibility is to express opinions on these financial statements based on our audit. We rnnducted our audit in accordance with auditing standards generally accepted in the United States of America and the standazds applicable to tinancial 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 consideration of internal controi over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Agency's internal control over financial reporting. Accordingly, we express no such opinion. An audit also inciudes examirung, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the acrnunting prineiples used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that onr audit provides a reasonable basis for our opinions. In our opinion, the finanrial statements referred to above present fairly, in aII material respecb, the respective financial position of the governmentai activities and each major fund of the Redevelopment Agency of the City of Redwood City, as of June 30, 2410, and the respective changes in financial position, for the year then ended in conformity with aocounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated December 3, 2010, on our consideration of the Agenc}�s intemal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, eontracts, and grant agreements and other matters. The purpose of that report is M describe the scope of our testing of internal control over financial reportir�g and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. www.c•Icpa.com