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City of Deerfield Beach, Florida June 30, 2021 Page 2 Management’s estimate of the net pension liability in accordance with GASB Statement No. 68, Accounting and Financial Reporting for Pensions, and the total OPEB liability in accordance with GASB Statement No. 75, Accounting and Financial Reporting for Other Postemployment benefits Other than Pensions, are based on actuarial methods and assumptions used by the actuaries for the development of the funding valuations as well as the accounting valuations. The key factors impacting the assumptions, such as change in market conditions, are subject to change on an annual basis therefore and can have a significant impact on this estimate. We evaluated the key factors and assumptions used to develop the estimate described above, in determining that it is reasonable in relation to the financial statements taken as a whole. Management’s estimate of the allowance for uncollectible receivables is based on aging of receivables, historic loss levels, and an analysis of the collectability of individual accounts. We evaluated the key factors and assumptions used to develop the allowance in determining that it is reasonable in relation to the financial statements taken as a whole. Certain financial statement disclosures are particularly sensitive because of their significance to financial statement users. There were no sensitive financial statements disclosures. The financial statement disclosures are neutral, consistent, and clear. Difficulties Encountered in Performing the Audit We encountered no significant difficulties in dealing with management in performing and completing our audit other than noted in our audit findings which were provided to you in the City’s Comprehensive Annual Financial Report which caused the audited financial statements to be issued in an untimely manner. Corrected and Uncorrected Misstatements Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. Management has corrected certain proposed misstatements. The attached schedule summarizes uncorrected misstatements of the financial statements. Management has determined that their effects are immaterial, both individual and in the aggregate, to the financial statements as whole. In addition, none of the misstatements detected as a result of audit procedures and corrected by management were material, either individually or in the aggregate, to each opinion unit’s financial statements taken as a whole. FOR PROPOSAL PURPOSES ONLY - DO NOT DISTRIBUTE