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The Honorable Mayor and City Council <br /> City of Monte Vista, Colorado <br /> Page 2 <br /> ' Accounting principles generally accepted in the United States of America require that the management's <br /> discussion and analysis and budgetary comparison information on pages 3 through 14 and 40 and 41 be <br /> presented to supplement the basic financial statements. Such information, although not a part of the basic <br /> financial statements, is required by the Governmental Accounting Standards Board, who considers it to be <br /> an essential part of financial reporting for placing the basic financial statements in an appropriate <br /> operational, economic, or historical context. We have applied certain limited procedures to the required <br /> supplementary information in accordance with auditing standards generally accepted in the United States <br /> of America, which consisted of inquiries of management about the methods of preparing the information <br /> and comparing the information for consistency with management's responses to our inquiries, the basic <br /> financial statements, and other knowledge we obtained during our audit of the basic financial statements. <br /> We do not express an opinion or provide any assurance on the information because the limited procedures <br /> do not provide us with sufficient evidence to express an opinion or provide any assurance. <br /> Our audit was conducted for the purpose of forming opinions on the financial statements that collectively <br /> comprise the City's financial statements as a whole. The combining nonmajor fund financial statements <br /> and the Local Highway Finance Report are presented for purposes of additional analysis and are not a <br /> required part of the financial statements. The accompanying schedule of expenditures of federal awards is <br /> 1 presented for purposes of additional analysis as required by U.S. Office of Management and Budget <br /> Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and is also not a <br /> required part of the financial statements. The combining and individual nonmajor fund financial <br /> statements, the schedule of expenditures of federal awards, and the Local Highway Finance Report are the <br /> responsibility of management and were derived from and relate directly to the underlying accounting and <br /> other records used to prepare the financial statements. The information has been subjected to the auditing <br /> ' procedures applied in the audit of the financial statements and certain additional procedures, including <br /> comparing and reconciling such information directly to the underlying accounting and other records used <br /> to prepare the financial statements or to the financial statements themselves, and other additional <br /> procedures in accordance with auditing standards generally accepted in the United States of America. In <br /> our opinion, the information is fairly stated in all material respects in relation to the financial statements <br /> as a whole. <br /> \174:0 kiji-)j� <br /> Wall, Smith, Bateman Inc. <br /> Alamosa, Colorado <br /> April 30, 2012 <br /> I <br /> I <br />