Laserfiche WebLink
<br />. <br /> <br />e <br /> <br />- <br /> <br />~ <br /> <br />;(ft7w~Peat Marwick <br /> <br />Mr. Robert T. Herrerra <br />City of La Porte <br />February 19, 1988 <br />2 <br /> <br />d. We inquired of Mr. Hovey as to the age of the fixed assets. He <br />stated that the assets average an age of 25 years with the last <br />major addition being in 1986 funded by the issuance of the <br />Waterworks and Sanitary Sewer System Combination Revenue and <br />Unlimited Tax Bonds Series 1962. <br /> <br />d. We contacted Mr. Clark Morris, a member of the Board of <br />Supervisors for Bay HUD. He stated that as of this date, Bay <br />MUD had debt outstanding for the bonds and $90,000 to a private <br />investor. Bay MUD plans to pay the $90,000 off during this <br />fiscal year. He was not aware of any other liabilities than <br />those incurred in the normal course of business. He also <br />stated that Bay MUD had no outstanding or pending litigation. <br />Additionally, Mr. Morris stated that Bay MUD has an agreement <br />to contribute $5,000 per quarter to the Shoreacres Volunteer <br />Fire Department. <br /> <br />Because the above procedures do not constitute an examination made in accord- <br />ance with generally accepted auditing standards, we do not express an opinion <br />on any of the accounts or items referred to above. In connection with the <br />procedures referred to above, no matters came to our attention that would <br />require adjustment to the September 30, 1987 financial statements of Bayshore <br />Municipal Utility District. Had we performed additional procedures or had we <br />made an examination of the financial statements in accordance with generally <br />accepted auditing standards, matters might have come to our attention that <br />would have been reported to you. <br /> <br />f d ~~J -r--~ ~C\a <br />