ANNUAL AUDIT REPORT - Laserfiche WebLink

Browse Search

An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made bymanagement, eowell as evaluating the overall presentation of the financial statements. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the hehs of material misstatement of the financial statementa, whether due to fraud or error. In making those risk assesarnen1s, the auditor considers internal control relevant to the District's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material nespeots, the respective financial position of the governmental activities, each major fund' and the aggregate remaining fund information of the District as ofJune 3O' 2020. and the respective changes in financial position for the fiscal year then ended in accordance with accounting principles generally accepted in the United States ofAmerica. IMM Required Supplementary /n/onnehon Accounting principles generally accepted inthe United States of America require that the management's discussion and analysis, budgetary comparison information, schedule of changes in the net pension liability and related ratios CalPERS Plan, schedule of contributions CalPERS Plan, schedule ofchanges inthe net pension liability and related ratios Retirement Enhancement Plan, schedule ofcontributions Retirement Enhancement Plan, schedule ofchanges in the net OPEB liability and related ratioe, and schedule of[)PEB plan oonthbuUons, respectively be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required bvthe Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, eoonornio, or historical context. We have applied certain limited procedures to the Required Supplementary Information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial atatenmento, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. 6