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1 Fall, <br /> Smith, <br /> ' Bateman Inc <br /> INDEPENDENT AUDITORS' REPORT <br /> To the Honorable Mayor and City Council <br /> City of Monte Vista, Colorado <br /> We have audited the accompanying financial statements of the governmental activities, the business-type <br /> activities, each major fund, and the aggregate remaining fund information of City of Monte Vista, <br /> ' Colorado, as of and for the year ended December 31, 2011, which collectively comprise the City's basic <br /> financial statements as listed in the table of contents. These financial statements are the responsibility of <br /> the City's management. Our responsibility is to express opinions on these financial statements based on <br /> ' our audit. <br /> We conducted our audit in accordance with auditing standards generally accepted in the United States of <br /> ' America and the standards applicable to financial audits contained in Government Auditing Standards, <br /> issued by the Comptroller General of the United States. Those standards require that we plan and perform <br /> the audit to obtain reasonable assurance about whether the financial statements are free of material <br /> misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and <br /> disclosures in the financial statements. An audit also includes assessing the accounting principles used <br /> and the significant estimates made by management, as well as evaluating the overall financial statement <br /> presentation. We believe that our audit provides a reasonable basis for our opinions. <br /> In our opinion, the financial statements referred to above present fairly, in all material respects, the <br /> ' respective financial position of the governmental activities, the business-type activities, each major fund, <br /> and the aggregate remaining fund information of the City, as of December 31, 2011, and the respective <br /> changes in financial position and, where applicable, cash flows thereof for the year then ended in <br /> conformity with accounting principles generally accepted in the United States of America. <br /> In accordance with Government Auditing Standards, we have also issued our report dated April 30, 2012, <br /> on our consideration of the City's internal control over financial reporting and on our tests of its <br /> compliance with certain provisions of laws, regulations, contracts, and grant agreements and other <br /> matters. The purpose of that report is to describe the scope of our testing of internal control over financial <br /> reporting and compliance and the results of that testing, and not to provide an opinion on internal control <br /> over financial reporting or on compliance. That report is an integral part of an audit performed in <br /> accordance with Government Auditing Standards and should be considered in assessing the results of our <br /> audit. <br /> I <br /> Certified Public Accountants <br /> 700 Main Street, Suite 200 PO Box 809 Alamosa, CO 81101 I 719-589-3619 I f 719-589-5492 I ww w.wsbcpa.com <br />