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• <br />• <br />..'fir ~\: ~. ~ _, <br />~C J ._,i .. .,.__ - ~~J <br />~_: _ ~_~ <br />The Board of Directors <br />La Porte Area Water Authority: <br />Independent Auditors' Report <br />We have audited the component unit financial statements of the La Porte Area Water Authority <br />(Authority) as of September.30, 1990 and 1989 and for the years then ended, as listed in the <br />accompanying table of contents. These component unit financial statements are the responsibility <br />of the Authority's management. Our responsibility is to express an opinion on these component <br />unit financial statements based on our audits. <br />We conducted our audits in accordance with generally accepted auditing standards. Those <br />standards require that we plan and perform the audits to obtain reasonable assurance about whether <br />the component unit financial statements are free of material misstatement. An audit includes <br />examining, on a test basis, evidence supporting the amounts and disclosures in the component unit <br />financial statements. An audit also includes assessing the accounting principles used and <br />significant estimates made by management, as well as evaluating the overall financial statement <br />presentation. We believe that our audits provide a reasonable basis for our opinion. <br />In our opinion, the component unit financial statements (Exhibit A, B and C) referred to above <br />present fairly in all matenal respects, the financial position of the La Pone Area Water Authority as <br />of September 30, 1990 and 1989, and the results of its operations and cash flows for the years <br />then ended in conformity with generally accepted accounting principles. <br />Our audits were made for the purpose of forming an opinion on the basic component unit financial <br />statements taken as a whole. The supplementary information presented in Schedules 1 through $ is <br />presented for purposes of additional analysis and is not a required part of the basic component unit <br />financial statements. Such information has been subjected to the audittng procedures applied in the <br />audits of the basic component unit financial statements and, in our opinion, is fairly presented in all <br />material respects in relation to the basic component unit financial statements taken as a whole. <br />December 21, 1990 <br />