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4"_.,,i t. 3 t L ti - y i r McCALL GIBSON SWWDLUND BARFC. OTPLLC Certified Public Accountants 13700 Thar€lunn Center Driue Suite 235 111 Congress Avenge Hous€on, Texas 77065-5610 Suite 400 (713) 462-0341 Austin, Texas 78701 Fax (713) 4 62-2 708 (512) 610-2209 E-Mail: rugsb&nSsbullc.coitt wmuguzggVL1c.com Board of Directors La Porte Redevelopment Authority City of La Porte, Texas Independent Auditor's Repo We have audited the accompanying financial statements of the governmental activities and major fund of La Porte Redevelopment Authority (the "Authority"), a cam ollent unit of the ga of La Porte Texas as of and for the year ended September 30, 2012, which collectively comprise the Authority's basic financial statements as listed in the preceding table of contents. These financial statements are the responsibility of the Authority's management. Our responsibility 1s to express opinions on these financial statements based on our audit. We have conducted our audit in accordance with auditing standards generally accepted within the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Authority's internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and major fund of the Authority as of September 30, 2012, and the respective changes in financial position for the year then ended in conformity with accounting principles generally accepted in the United States of America. Member of American Institute of Certified Public Accountants Texas Society of Certified Public Accountants