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INDEPENDENT AUDITOR’S REPORT <br />REQUIRED BY OREGON STATE REGULATIONS <br /> <br /> <br />To the Honorable Mayor, Members of the Urban <br />Renewal Agency Board and the Administrator <br />City of Eugene, Oregon <br /> <br /> <br />We have audited the basic financial statements of the Urban Renewal Agency (“Urban Renewal Agency”) <br />of the City of Eugene, Oregon as of and for the year ended June 30, 2015, and have issued our report <br />thereon dated December 23, 2015. We conducted our audit in accordance with auditing standards <br />generally accepted in the United States of America and Government Auditing Standards. <br /> <br />Compliance <br /> <br />As part of obtaining reasonable assurance about whether the Urban Renewal Agency’s financial <br />statements are free of material misstatement, we performed tests of its compliance with certain <br />provisions of laws, regulations, contracts and grants including provisions of Oregon Revised Statutes as <br />specified in Oregon Administrative Rules 162-10-000 to 162-10-320 of the Minimum Standards for Audits <br />of Oregon Municipal Corporations, noncompliance with which could have a direct and material effect on <br />determination of financial statements amounts. However, providing an opinion on compliance with those <br />provisions was not an objective of our audit, and accordingly, we do not express such an opinion. <br /> <br />We performed procedures to the extent we considered necessary to address the required comments and <br />disclosures which included, but were not limited to the following: <br /> <br />Deposit of public funds with financial institutions (ORS Chapter 295). <br />Indebtedness limitations, restrictions and repayment. <br />Budgets legally required (ORS Chapter 294). <br />Insurance and fidelity bonds in force or required by law. <br />Programs funded from outside sources. <br />Highway revenues used for public highways, roads, and streets. <br />Authorized investment of surplus funds (ORS Chapter 294). <br />Public contracts and purchasing (ORS Chapters 279A, 279B, 279C). <br /> <br />In connection with our testing nothing came to our attention that caused us to believe the Urban Renewal <br />Agency was not in substantial compliance with certain provisions of laws, regulations, contracts, and <br />grants, including the provisions of Oregon Revised Statutes as specified in Oregon Administrative Rules <br />162-10-000 through 162-10-320 of the Minimum Standards for Audits of Oregon Municipal Corporations. <br /> <br />45 <br />