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INDEPENDENT! <br />5Lhw͸{REPORT <br />TotheHonorableMayor,MembersoftheUrban <br />RenewalAgencyBoardandAdministratorofthe <br />UrbanRenewalAgencyoftheCityofEugene,Oregon <br />ReportontheFinancialStatements <br />Wehaveauditedtheaccompanyingfinancialstatementsofthegovernmentalactivitiesandeachmajor <br />fundoftheUrbanRenewalAgencyoftheCityofEugene,OregonΛͻ <br />ƩĬğƓRenewal!ŭĻƓĭǤͼΜ(a <br />componentunitoftheCityofEugene,Oregon)asofandfortheyearendedJune30,2016,andthe <br />relatednotestothefinancialstatements,whichcollectivelycomprisetheUrbanRenewal!ŭĻƓĭǤ͸ƭbasic <br />financialstatementsaslistedinthetableofcontents. <br />ağƓğŭĻƒĻƓƷ͸ƭResponsibilityfortheFinancialStatements <br />Managementisresponsibleforthepreparationandfairpresentationofthesefinancialstatementsin <br />accordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica;thisincludes <br />thedesign,implementation,andmaintenanceofinternalcontrolrelevanttothepreparationandfair <br />presentationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudor <br />error. <br />AuditoƩƭ͸Responsibility <br />Ourresponsibilityistoexpressopinionsonthesefinancialstatementsbasedonouraudit.Weconducted <br />ourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmerica. <br />Thosestandardsrequirethatweplanandperformtheaudittoobtainreasonableassuranceabout <br />whetherthefinancialstatementsarefreefrommaterialmisstatement. <br />Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresin <br />thefinancialstatements.TheproceduresselecteddependontheğǒķźƷƚƩ͸sjudgment,includingthe <br />assessmentoftherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudor <br />error.Inmakingthoseriskassessments,theauditorconsidersinternalcontrolrelevanttotheĻƓƷźƷǤ͸ƭ <br />preparationandfairpresentationofthefinancialstatementsinordertodesignauditproceduresthatare <br />appropriateinthecircumstances,butnotforthepurposeofexpressinganopinionontheeffectivenessof <br />theĻƓƷźƷǤ͸ƭinternalcontrol.Accordingly,weexpressnosuchopinion.Anauditalsoincludesevaluating <br />theappropriatenessofaccountingpoliciesusedandthereasonablenessofsignificantaccounting <br />estimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthefinancial <br />statements. <br />Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisfor <br />ourauditopinions. <br /> <br />