AgdaPkt 2005-01-24 - Laserfiche WebLink

Browse Search

C&L Caporicci & Larson CertIfied Public Accountants INO EPEND ENT AUDIT OR S' REPO R T To the Honorable Mayor and Members of City Council of the City of Redwood City Redwood City I California We have audited the accompanymg financIal statements of the governmental activities", the business- type activities, each major fund, and the aggregate remaining fund information of the City of Redwood City, California (City), as of and for the year ended June 30,2004, whIch collectively comprise the CityJs basic financial statements as listed in the table of contents. These fInancial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards in the United States and the standards applicable to financial audits contained in Government Audzhng 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 examinin~ on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audIt also includes assessing the accounting principles used and significant esnmates made by management, as well as evaluabng the overall basic financIal statement presentation. We believe that our audit provides a reasonable basIs for our opinions. In our opinion, the basIc fInancial statements referred to above present fairly" in all material respects, the respechve financial positIon of the governmental activities, the business-type achvIties,. each major fund, and the aggregate remaining fund information of the City as of June 30, 2004, and the respective changes in finanClal position and cash flows, where applicable, thereof for the year then ended m conformity with generally accepted accounting principles m the United States- In accordance with Government Auditing Standards, we have also Issued our report dated October 22, 2004 on our consideration of the City's mtemal control over financial reporting and on OUI tests of its compliance with certain provISIons of laws, regulations.- contracts, and grants.. That report is an integral part of an audIt performed m accordance wIth Governmental Audltzng Standards and should be read in conJuncbon with this report in considering the results of our audit. The accompanying RequIred Supplementary Information, such as management's discussion and analysis is not a reqUIred part of the basic fmancial statements but are supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentahon of the Required Supplementary Information. However, we did not audIt the information and express no opinion on it. Toll Free Ph (877) 862-2200 Toll Free Fax (866) 436-0927 0aIdan d 180 GrandAve Swte 1365 Oaklandt Caltfonna 94612 Orange County 3184-D Auway Avenue Costa Mesa, Callforrua 92626 Sacram.ento 777 Campus Commons Rd t Suite 200 1 Sacramento, Cabforma 9 ;825 SIUI DJep 600 liB.' Street, Suite 1900 San Dieso,Califorrua 92101