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<br />Honorable Mayor, City Commission and City Manager <br />City of ABC, Florida <br />Page 2 <br /> <br />2. The City was in compliance with Section 218.415, Florida Statutes, regarding the investment of <br />public funds. <br /> <br />3. Recommendations to improve the City's present financial management and accounting <br />procedures accompany this report in the schedule of findings and questioned costs. <br /> <br />4. During the course of our audit, other than matters that are clearly inconsequential, considering <br />both quantitative and qualitative factors, nothing came to our attention that caused us to believe <br />that the City: <br /> <br />a. Was in violation of any laws, rules or regulations and contractual provisions or abuses that <br />have occurred, or were likely to have occurred, or were discovered within the scope of the <br />audit, except as reported in the schedule of findings and questioned costs. <br /> <br />b. Made any improper or illegal expenditures that were discovered within the scope of the audit <br />that may materially affect the financial statements. <br /> <br />c. Had deliciencies in internal control that are reportable conditions including but not limited to: <br />(I) Improper or inadequate accounting procedures, except as reported in the schedule of <br />fi ndi ngs and quest ioned costs <br />(2) Failures to properly record financial transactions, except as reported in the schedule of <br />findings and questioned costs. <br />(3) Other inaccuracies, shortages, defalcat ions, and instances of fraud discovered by, or that <br />came to the attention of the auditor. <br /> <br />S. The name and ofticial title and legal authority for the primary government (the City) and each <br />component unit of the reporting entity as defined in publications cited in Rule 10.553 are <br />disclosed in the notes to the financial statements. <br /> <br />6. a. The City, during fiscal year 2005, did not meet any of the specific conditions described In <br />Florida Statutes 218.503( I). <br /> <br />b. The annual financial report for the year ended September 30, 2005 has been filed with the <br />Department of Financial Services pursuant to Section 218.32( I )(a), Florida Statutes and is in <br />agreement with the audited financial statements for the fiscal year ended September 30, 2005. <br /> <br />c. During the course of our audit, we applied financial condition assessment procedures <br />pursuant to Rule 10.556(7). It is management's responsibility to monitor the City's financial <br />condition, and our financial conclition assessment, which was performed as of the City's <br />fiscal year end, was based on representations macle by management and the review of <br />financial information provided by the City. There were no findings that identified <br />deteriorating financial conditions. <br /> <br />-7- <br />