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C 6.1. B. - Page 205 L Caporicci & Larson, Inc. ASubsidiary ofMarcum ITP Cert�ed Public Accountants INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT ALIDITING STANDARDS To the Board of Directors of the City of Ped�nTood City Pedevelopnlent Agency Pedwood City, California We have audited the basic financial statenlents of the City of Redwood City Redevelopment Agency (the "Agenc�'), a component unit of the City of Redwood City, California (the "City"), as of and for the year ended June 30, 20ll, and have issued our report tllereon dated December 7, 2011. We conducted our audit uz accordance with auditing standards generally accepted in the United States of Anlerica and the standards applicable to fulancial audits coiltaitled in Goz�e��nrrlent Auc�iting Standc�rds, issued by the Comptroller General of the United States. Internal Control Over Financial Renortin� In plannulg and perfornlulg our audit, we considered t11e Agency's internal control over financial reportuzg in order to deternune our auditing procedures for the purpose of expressing our opinion on the financial statenlents but not for $Ze purpose of expressing an opinion on the effectiveness of the Agency's ulternal control over financial reporting. Accordulgly, we do not e�ress an opinion on the effectiveness of the Agency's internal control over financial reporting. A r�eficienc� in internal cont��ol exists when t11e desigll or operation of a control does not allow inailageineilt or einployees, in the normal course of perforining their assigned functions, to prevent, or detect and correct nusstatements on a tinlely basis. A niate��ial u�er�kness is a deficiency, or combination of deficiencies, in internal control, suc11 t11at tllere is a reasonable possibility that a nlaterial misstatement of the Agency's financial statenlents will not be prevented, or detected and corrected on a tinlely basis. Our consideration of the internal coiltrol over fulancial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies u1 the Agency's internal control over fulancial reportulg that nugllt be deficiencies, significant deficiencies, or nlaterial weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be inaterial weaknesses, as defined above. Compliance and Other Matters As part of obtaululg reasonable assurance about w11et11er the Agency's fuzancial stateinents are free of nlaterial nlisstatenlent, we perfornled tests of its conlpliance with certain provisions of laws, regulations, contracts, and grant agreenlents, nonconlpliance with whicll could have a direct and nlaterial effect on the deternunation of financial statement amounts. However, providing �z opinion on compliance with those provisions was not an objective of our audit, aild accordingly, we do not express such an opulion. The result of our tests disclosed one instance of noncompliance fllat is required to be reported under Goz�ernment Al.tr�iting Strmc�ards and is described u1 the acconlpanying sununary of findings & responses as iten12011-01. www olcpa.com