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I I I MANAGEMENT LETTER REQUIRED BY SECTION 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA I I To the Board of Directors of the SAMPLE Authority Fort Lauderdale, Florida I We have audited the financial statements of the SAMPLE Authority, as of and for the fiscal year ended September 30,2006, and have issued our report thereon dated November 17, 2006, I We conducted our audit in accordance with United States generally accepted auditing standards, and Government Auditing Standards issued by the Comptroller General of the United States, We have issued our Independent Auditor's Report on Internal Control over financial reporting and on Compliance and Other Matters. Disclosures in that report, which are dated November 17, 2006, should be considered in conjunction with this management letter I Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General, which govern the conduct of local governmental entity audits performed in the State of Florida and require that certain items be addressed in this letter. I The Rules of the Auditor General (Section 10,554(1)(h) 1,) require that we address in the management letter, if not already addressed in the auditor's reports on compliance and internal controls, whether or not recommendations made in the preceding annual financial audit report have been followed, The recommendations made in the preceding annual financial audit report have been corrected, I I As required by the Rules of the Auditor General (Section 10.554(1)(h) 2,), the scope of our audit included a review of the provisions of Section 218.415., Florida Statutes, regarding the investment of public funds. In connection with our audit, we determined that the Authority complied with Section 218.415, Florida Statutes. I The Rules of the Auditor General (Section 10.554(1 )(h) 3.) require that we address in the management letter any findings and recommendations to improve financial management, accounting procedures, and internal controls. In connection with our audit, we have reported our findings and recommendations below under the heading Current Year Findings and Recommendations. I The Rules of the Auditor General (Section 10.554(1 )(h) 4.) require disclosure in the management letter of the following matters if not already addressed in the auditor's reports on compliance and internal controls or schedule of findings and questioned costs and are not clearly in consequential: (1) violations of laws, 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 disclosed the following matters required to be disclosed by Rules of Auditor General (Section 10.554(1 )(h)4,): I I .:. Current Year Findings and Recommendations: No. 2006-01 and 2006-02. I I I I