10-23-06 Regular Meeting of Fiscal Affairs Committee Minutes

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] ] Greenway Plaza, Suite ] 5] 5 Houston, TX 77046 (713) 621-]5]5 Fax: (713) 621-]570 l" Vi If / 4\~ -, :.A NuUiLaIrsorl PRClFi:SSOI, ~,l CC,;-'i'>LJCI!, 21 ] 7 Post Office Street Galveston, TX 77550 (409) 762.8380 Fax: (409) 762-] 749 CER.TFE~D r:\Fi! _K ,L\CCC,J))TiJ ,~iS Independent Auditors' Report To the Honorable Mayor and Members of the City Council City of La Porte, Texas We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of City of La Porte, Texas (the "City"), as of and for the year ended September 30, 2005, which collectively comprise the City's basic financial statements as listed in the table of contents. These fmancial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. 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 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 Op1ll1ons. In our opinion, the fmancial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of the City of La Porte, Texas, as of September 30, 2005, and the respective changes in fmancial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America 1\1ElvlBEPS AI\1ERIC/\.'< Il,STITUTE OF CERTIFIED PUBL.lC ACCOUI-':TANTS, TEXA.S SOCIETY OF CERTIFIED PUBL.lC~CCOUNTANTS, CPA ASSOCL"TES INTEFX"TIONAL. INC VI'TTH ASSOCl'.TED OffiCES IN PRINCIPAL D.S AND Il\'TET'~"ATJON.L.LC]TlES 15