Finance Committee Agenda and Packet 2013 12 16

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S CERTIFIED PUBLIC ACCOUNTANTS Independent Auditor's ReF)rt Board of Directors The Association for Community Living in Boulder County We have audited the accompanying financial statements of The Association for Community Living in Boulder County (a Colorado nonprofit corporation) as of December 31, 2012 and 2011, which comprise the statements of financial position as of December 31, 2012 and 20] 1, and the related statements of activities, functional expenses, and cash flows for the years then ended and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits 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 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 risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity'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 entity'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 opinion. 400 South Colorado Boulevard, Suite 690 • Denver, Colorado 80246 303 733 -3796 • FAX 303 733 -6230 • wi v.pnacpa.com MEMBER. AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS. DIVISION FOR CPA FIRMS OF THE AICPA. A1CPA GOVERNMENT AUDIT QUALITY CENTER. COLORADO SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS 21