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Honorable Mayor, City Commission and City Manager City of Sunny Isles Beach, Florida Page Two rules, regulations, and contractual provIsions that have occurred, or are likely to have occurred; (2) improper or illegal expenditures; (3) improper or inadequate accounting procedures (e. g., the omission of required disclosures from the financial statements); (4) failures to properly record financial transactions; and (5) other inaccuracies, shortages, defalcations, and instances of fraud discovered by, or that come to the attention of the auditor. Our audit found no matters that were required to be disclosed. The Rules of the Auditor General (Section 10.554(1)(h)5.) also require that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. The City of Sunny Isles Beach was incorporated by Ordinance 95-207 adopted by the Miami-Dade Board of County Commissioners on June 16, 1997. There were no component units related to the City. As required by the Rules of the Auditor General (Section I 0.554( I )(h)6a.), a statement must be included as to whether or not the local government entity has met one or more of the conditions described in Section 218.503( I), Florida Statutes. In connection with our audit, we determined that the City, did not meet any of the conditions described in Section 218.503( I), Florida Statutes. As required by the Rules of the Auditor General (Section 10.554(1)(h)6.b.), we determined that the annual financial report for the City of Sunny Isles Beach for the fiscal year ended September 30,2006, filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, IS 111 agreement with the annual financial audit report for the fiscal year ended September 30, 2006. As required by the Rules of the Auditor General (Sections 10.554(h)6.c. and 10.556(7), we applied financial assessment procedures. It is management's responsibility to monitor the entity's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. The assessment was done as of the fiscal year end. There were no findings that identified deteriorating financial conditions. This management letter is intended solely for the information of the Mayor, City Commission, management, and the State of Florida Office of the Auditor General, and is not intended to be and should not be used by anyone other than these specified parties. Miami, Florida January 19,2007 -6-