C153374 Finanicals 2009

• Contract/PO #: C153374
• Contractor Name: Palisade, Town of
• Contract Type: Loan
• Loan Projects - Doc Type: Report

Chadwick, Steinkirchner, Davis & Co., P.C. Consultants and Certified Public Accountants
� CSD
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
May 25, 2010
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 the Town of Palisade, Colorado,
as of and for the year ended December 31, 2009, which collectively comprise the Town's basic financial
statements as listed in the table of contents. These financial statements are the responsibility of management.
Our responsibility is to express an opinion on these financial statements based on our audit.
tWe conducted our audit in accordance with auditing standards generally accepted in the United States of
America. 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 our audit provides a reasonable basis for
our opinion.
' In our opinion, the financial 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 Town of Palisade, Colorado as of December 31, 2009, and
the respective changes in financial 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.
The management's discussion and analysis on pages 3 through 10 is not a required part of the basic financial
tstatements but is supplementary information required by accounting principles generally accepted in the
United States of America. We have applied certain limited procedures, which consisted principally of
inquiries of management regarding the methods of measurement and presentation of the supplementary
information. However, we did not audit the information and express no opinion on it.
The schedule of revenues, expenditures and changes in fund balance — budget and actual — general fund is
not a required part of the basic financial statements but is supplementary information required by accounting
principles generally accepted in the United States of America. Such information has been subjected to the
auditing procedures applied by us in the audit of the basic financial statements and in our opinion, is fairly
stated in all material respects in relation to the basic financial statements taken as a whole.
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