02-02-12 LPRDA/TIRZ - Laserfiche WebLink

Browse Search

McCALL GIBSONSWEDL7.IND BARFOOTPLLC Certified Public Accountants 13100 Wortharn Center Drive Suite 235 117 Congress Avenue Houston, Texas 77065 5610 Suite 400 (713) 462-0341 Austin, Texas 78707 Fax (713) 462-2708 (512) 6I0-2209 E-Mail: ingsWingsbpttc.com tmmumigsbpllc.com January 20, 2012 Board of Directors LaPorte Redevelopment Authority City of LaPorte, Texas We are pleased to confirm our understanding of the services we are to provide LaPorte Redevelopment Authority (the "Authority") for the year ended September 30, 2011. We will audit the financial statements of the governmental activities and each major fund, which collectively comprise the basic financial statements of the Authority as of and for the year ended September 30, 2011. Accounting standards generally accepted in the United States of America provide for certain required supplementary information (RSI), such as management's discussion and analysis (MD&A) and the schedule of revenues, expenditures and changes in fund balance — budget and actual for the General Fund, to accompany the Authority's basic financial statements. Such information, although not a part of the basic financial statements, its required by the Governmental Accounting Standards Board (GASB) who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. As part of our engagement, we will apply certain limited procedures to the Authority's RSI in accordance with auditing standards generally accepted in the United States of America, however, the information will not be audited and we will disclaim an opinion on such information. The following RSI is required by generally accepted accounting principles and will be subjected to certain limited procedures, but will not be audited: 1) Management's Discussion and Analysis, and 2) Schedule of Revenues, Expenditures and Changes in Fund Balances — Budget and Actual — General Fund Audit Objective The objective of our audit is the expression of an opinion as to whether your basic financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States of America and to report on the fairness of the supplementary information referred to on the first page of this engagement letter when considered in relation to the financial statements taken as a whole. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America and will include tests of the accounting records and other procedures we consider necessary to enable us to express such an opinion. If our opinion on the financial statements is other than unqualified, we will fully discuss the reasons with you in advance. If for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or to issue a report as a result of this engagement. Member of American Institute of Certfied Public Accaruttmrts Texas Society of Certified Public Accountants