1997 AGN APR 01 I28 - Laserfiche WebLink

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_ _ ._ , _ ._ � � ,_ �. 1201 DOVE STREET, SUITE 680 r�n�J,,�f��, NEWPORT BEACH, CAI.IFORNIA 92660 �l ��11� C3 t�ll/.Y./� � / ,ji (714) 221-0025 �` � 1 CERTIFIED PUBUC ACCOUNTAN7S 570 RANCHEROS DRIVE, SU1TE 260 SAN MARCOS, CA 92069 {819)752-3390 November 27, 1996 To the Honorabie City Council of the City of Ccjitc�n We haue auclited the generai p�rposa financial statem�nts of the City af Colton, California for the year en�ed June 30, 1996, and have issued c�ur report thereon da#ed Nov�mber 27, 1995. Under generally accepted auditing standards, we are providing you the attached inf�rmatit�n related to flnr audit, Our responsil�ility under generally a�c�pted auditing standarcis is to plan and perform our audit to obtain reasonable, but nat a�soiu#e, assurance that t�ie financial stat�ments are fr�� of material misstatemenx and are fairly presented in a�cordance rvi't.� generally accepted a�counting principi�s. Because of the coneepx of reasonable assurance and beeause we did nnt perform a detaiied examination c�f all transactions, there is a risk that maLerial errors, irregularities, Qr illegal acts, including fraud and de�alcations, may e�st and not be d�tected by us. In addition, �ve considered the internal controi s�tzucture of the �ity of Coltc�n. Such considerati�ns were soleiy for the �urpose of determining aur audit proced�tres and not to provitie any assurance cflneerning such internal conirol structure. Si�nificant Accaunting Policies The significant accflun�ing poiici�s of the City are ciescribeti in n4te 1 to the general purpose financiai statements. No new accflunting poiicies w�r� adflpted and tiie applic�tion of existing poiicies was nt�t changed during the year. We noted no signifi�ant, unusual transac�ions during th� year, or transactions fc�r which ther� is a lack of authoritative guidance or consensus. Management �udQ,ments and Accountin� Estima#es 1�ccounting estimates are an integral part of the financial statements prepared by nranagement and are based upon managemer�t's current judgments. Those judgments are normally based on knayuledge and e�erience about past and current events and assumptions abaut future events, The judgments and estima�es w%ich may significantiy effect the City's general purpc�se financiai statements includ� recording appropriate liabiiities for general liability and woFkers' eomp�nsation claims. During our audit c�f the � _ , : � - , ,:- �. , �, : ,� � --