1993 AGN JUL 06 I04 - Laserfiche WebLink

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M�GLADREY & PULLEN Certfied Publ'�c Accourrtarrts and Consultants INDEPENDENT AUDITOR'S REPORT ON SCHEDULE OF FEDERAI. AND CERTAIN STATE FINANCIAL ASSISTANCE To the Honorable Mayor and Members of the Ciry Council City of Colton, California We have submitted, under separate cover, the general purpose financial statements of the City of Colton, California as of and for the year ended June 30. 1992, and our report thereon, dated November 10. 1992, is as follows: ,� We have audited the general purpose financial statements of the City of Colton, California. as of and for the year ended June 30, 1992, as listed in the accompanying table of contents. These general purpose financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these general �- purpose financial statements based on our audit. Except as discussed in the following paragraph, we conducted our audit in accordance ..w, with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose " financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis .-, for our opinion. The City has not maintained adequate records relating to property, plant and equipment and accumulated depreciation. Accordingly, we were unable to satisfy � ourselves as to the property, plant and equipment balances, and related accumulated depreciation and depreciation expense as reported in the accompanying financial statements. In our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had we been able to audit adequate property, plant and � equipment records as discussed in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Colton, California, at June 30. 1992 and the results of its operations and cash flows of its proprietary fund types for the year then ended in � conformity with generally accepted accounting principles. -1-