South Platte Water Related Activities Proposal

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04/17/2008 17:19 9704980676 DJDUNNCPA Mr. Dennis J. Harmon March 12, 2008 Page 2 Although my examination will include an evaluation of of determining the timing and extent of tests to be pi examination contemplated is to be based upon tests and s transactions is not practicable and that my examination be relied on to detect fraud should it exist. If however, internal control weaknesses or irregularities come to immediately brought to the Board's attention. PAGE 02 Lug internal control for purpose Teed, it is understood that the les, since detailed auditing of all not be directed, and should not ing my examination significant attention, such items will be As a part of my examination I will issue a management letter outlining my findings and recommendations relative to material weaknesses in internal! controls, if any. It is contemplated that your designatee will assist me by locating and submitting to me, invoices, vouchers, canceled checks and other documents an , records which I may request. I call your attention to the fact that management has the responsibility for the proper recording of transactions, for the safeguarding of assets, anal for the substantial accuracy of the financial statements. Although I may have prepared or assisted in preparing your financial statements, the statements are the representation o ljmanagement. In connection with this responsibility, you agree to provide �me, prior to the delivery date of the financial statements with written confirmation of the rep esentations made to me by your and your staff during the course of my audit. If in the course of performing my audit it is determined in my opinion, that a possible violation of state statutes has occurred, you will have the option of acknowledging such occurrence in the notes to the financial statements. It is understood that should the District choose to exclude the disclosure in the notes to the financial 6tatements, I wilt be required, in accordance with Colorado Audit Law, to include the disclosure in [ray opinion letter. If reproduction or publication of the financial statements which I have prepared or examined, or any part of such statements, is anticipated for purposes of distribution outside your management, I require that I be permitted to approv the master or printer's proofs before publication, if my firm's name is to be associated wits the statements or report in any way. My fees will be billed as work progresses and are based on the amount of time required at various levels of responsibility, plus actual out -of pock t expenses. I will notify you immediately of any circumstances i encounter which eou16I significantly affect my initial estimate of total fees of $ 2,420.00. Invoices are payable upo�1 presentation unless other terms have been agreed to and incorporated herein.