2011 Annual Comprehensive Financial Report

Home Browse Search

EideBailly CPAs a. BUSINESS ADVISORS INDEPENDENT AUDITORS' REPORT The Honorable Mayor, Members of the City Council and City Administrator City of Louisville, Colorado We have audited the accompanying financial statements of the governmental activities, business -type activities, each major fund, and the aggregate remaining fund information of the City of Louisville, Colorado, (the City) as of and for the year ended December 31, 2011 which collectively comprise the City's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business -type activities, each major fund, and the aggregate remaining fund information of the City of Louisville, Colorado, as of December 31, 2011, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. 9 www.eidebailly.com 440 Indiana St., Ste. 200 1 Golden, CO 80401 -5021 1 TF 877.882.7929 1 T 303.986.2454 1 F 303.980.5029 1 EOE