HomeMy WebLinkAbout5/18/2011 - STAFF REPORTS - 2.M. LS
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CERTIFIED PUBLIC ACCOUNTANTS
•Brandon W.Burrows,CPA
•David E.Hale,CPA,CFP
A PrnlP.sslonal Corporarlou
•Donald G.Slater,CPA
•Richard K.Quchi,CPA
•Susan F.Matz,CPA
•Shelly K.Jackley,CPA
•Bryan S.Gruber,CPA
April 27,2011
To the Honorable Mayor and Members of the City Council
City of Palm Springs,California
We are engaged to audit the financial statements of the governmental activities, the business-type
activities, the aggregate discretely presented component units, each major fund, and the aggregate
remaining fund information of City of Palm Springs for the year ended June 30, 2011. Professional
standards require that we provide you with the following information related to our audit. We would also
appreciate the opportunity to meet with you to discuss this information further since a two-way dialogue
can provide valuable information for the audit process.
Our Res onsibill under U.S.Generalliv Accepted Auditing Standard
As stated in our engagement letter, our responsibility, as described by professional standards, is to
express opinions about whether the financial statements prepared by management with your oversight
are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting
principles. Our audit of the financial statements does not relieve you or management of your
responsibilities.
Other Information in Documents Cont_ainina Audited Financial Statements
Our responsibility for the supplementary information accompanying the financial statements,as described
by professional standards, is to evaluate the presentation of the supplementary information in relation to
the financial statements as a whole and to report on whether the supplementary information is fairly
stated, in all material respects, in relation to the financial statements as a whole.
Planned Scope and Timin of the Audit
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; therefore, our audit will involve judgment about the number of transactions to be
examined and the areas to be tested.
Our audit will include obtaining an understanding of the entity and its environment, including internal
control, sufficient to assess the risks of material misstatement of the financial statements and to design
the nature, timing, and extent of further audit procedures. Material misstatements may result from (1)
errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or (4) violations of laws or
governmental regulations that are attributable to the entity or to acts by management or employees acting
on behalf of the entity.We will communicate our significant findings at the conclusion of the audit.We will
also communicate any internal control related matters that are required to be communicated under
professional standards.
We expect to begin our audit in approximately the second quarter of 2011 and issue our report by the
date previously agreed to by management.
Lance,Solt&Lungbard,LLP 203 North Brea Boulevard -Suite 203• Brea,CA 92821 •TEL:714.672,0022 • Pax:714.672,0331 www.is[cpas.com
41185 Golden Gale Circle -Suite 103• Murrieta,CA 92562 -TEL:951.304.2728 •Fax.951.304.3940
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CERTIVIED PUIIIC ACCOUNTAITS
To the Honorable Mayor and Members of the City Council
City of Palm Springs, California
This information is intended solely for the use of the governing board and management and is not intended to be
and should not be used by anyone other than these specified parties.
Very truly yours,
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