Laserfiche WebLink
AttachmentB <br />December23,2015 <br />TotheCityCouncil <br />CityofEugene,Oregon <br />Wehaveauditedthefinancialstatementsofthegovernmentalactivities,thebusinesstypeactivities, <br />eachmajorfund,andtheaggregateremainingfundinformationoftheCityofEugenefortheyearended <br />June30,2015,andhaveissuedourreportthereondatedDecember23,2015.Professionalstandards <br />requirethatweprovideyouwiththefollowinginformationrelatedtoouraudit. <br />OurResponsibilityunderU.S.GenerallyAcceptedAuditingStandards <br />AsstatedinourengagementletterdatedAugust14,2015,ourresponsibility,asdescribedbyprofessional <br />standards,istoexpressopinionsaboutwhetherthefinancialstatementspreparedbymanagementwith <br />youroversightarefairlypresented,inallmaterialrespects,inconformitywiththeaccountingprinciples <br />generallyacceptedintheUnitedStates.Ourauditofthefinancialstatementsdoesnotrelieveyouor <br />managementofyourresponsibilities. <br />udit <br />PlannedScopeandTimingoftheA <br />Weperformedtheauditaccordingtotheplannedscopeandtimingpreviouslycommunicatedtoyouin <br />ourengagementletter. <br />QualitativeAspectsofAccountingPractices <br />Managementisresponsiblefortheselectionanduseofappropriateaccountingpolicies.Thesignificant <br />genearedescribedinthefootnotestothefinancialstatements. <br />accountingpoliciesusedbytheCityofEu <br />WenotednotransactionsenteredintobytheCityduringtheyearforwhichthereisalackof <br />authoritativeguidanceorconsensus. <br />Thefinancialstatementsinclude:(1)implementationofGASB68relatingtopensionreportingΑseethe <br />expandeddisclosuresin5(C);seenote5(I)regardingthechangeinaccountingforpensions;and,seenote <br />5(J)regardingtheallocationofthepensionbondstothevariousfunds. <br />Accountingestimatesareanintegralpartofthefinancialstatementspreparedbymanagementandare <br />basedonƒğƓğŭĻƒĻƓƷ͸ƭknowledgeandexperienceaboutpastandcurrenteventsandassumptions <br />aboutfutureevents.Themostsignificantestimateaffectingthefinancialstatementsisthedetermination <br />ofdepreciationoncapitalassets.Theaccountingpoliciesrelatingtocapitalassetsanddepreciationare <br />describedinthefootnotestothecomprehensiveannualfinancialreport.ThePERSfootnote5(C) <br />dtovaluethepensionobligation. <br />discussesassumptionsuse <br />1976 Garden Ave., Eugene OR 97403 <br />541.342.5161 www.islercpa.com <br />