Resolution No. 5125 - Laserfiche WebLink

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%XXEGLQIRX& December 30, 2014 To the City Council City of Eugene, Oregon We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Eugene for the year ended June 30, 2014, and have issued our report thereon dated December 12, 2014. Professional standards require that we provide you with the following information related to our audit. 3YV6IWTSRWMFMPMX]YRHIV97+IRIVEPP]%GGITXIH%YHMXMRK7XERHEVHW As stated in our engagement letter dated August 15, 2014, our responsibility, as described by professional standards, is to express opinions about whether the financial statements prepared by management with your oversight are fairly presented, in all material respects, in conformity with the accounting principles generally accepted in the Unites States. Our audit of the financial statements does not relieve you or management of your responsibilities. 4PERRIH7GSTIERH8MQMRKSJXLI%YHMX We performed the audit according to the planned scope and timing previously communicated to you in our engagement letter. 5YEPMXEXMZI%WTIGXWSJ%GGSYRXMRK4VEGXMGIW Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the City of Eugene are described in the footnotes to the financial statements. We noted no transactions entered into by the City during the year for which there is a lack of authoritative guidance or consensus. Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events. The most significant estimate affecting the financial statements is the determination of depreciation on capital assets. The accounting policies relating to capital assets and depreciation are described in the footnotes to the comprehensive annual financial report.