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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, 2018, and have issued our report <br />thereon dated November 30, 2018. We conducted our audit in accordance with auditing standards <br />generally accepted in the United States of America. <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 />RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own <br />acts and omissions, and each are separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM <br />International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to <br />RSM International resources through RSM US LLP but are not member firms of RSM International. <br /> <br /> <br />45 <br />December 10, 2018, Meeting - Item 3