City Council Agenda and Packet 2018 12 04

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.►», EideBailly CPAs & BUSINESS ADVISORS November 14, 2018 Honorable Mayor and Members of the City Council City of Louisville 749 Main Street Louisville, Colorado The following represents our understanding of the services we will provide to the City of Louisville, Colorado. You have requested that we audit the financial statements of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the City of Louisville (the "City") as of December 31, 2018, and for the year then ended, and the related notes to the financial statements, which collectively comprise the City's basic financial statements. We are pleased to confirm our acceptance and our understanding of this audit engagement by means of this letter. Our audit will be conducted with the objectives of our expressing an opinion on each opinion unit applicable to those basic financial statements. Accounting principles generally accepted in the United States of America (U.S. GAAP), as promulgated by the Governmental Accounting Standards Board (GASB) require that certain supplementary information, including management's discussion and analysis, budgetary comparison information, and related notes to required supplemental information be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the GASB, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. As part of our engagement, we will apply certain limited procedures to the required supplementary information (RSI) in accordance with auditing standards generally accepted in the United States of America (U.S. GAAS). These limited procedures will consist primarily of inquiries of management regarding their methods of measurement and presentation and comparing the information for consistency with management's responses to our inquiries. We will not express an opinion or provide any form of assurance on the RSI. The following RSI is required by U.S. GAAP. This RSI will be subjected to certain limited procedures but will not be audited: • Management's Discussion and Analysis • Budgetary Comparison Schedule —General Fund • Budgetary Comparison Schedule —Open Space & Parks Fund Supplementary information other than RSI will accompany the City's basic financial statements. We will subject the following supplementary information to the auditing procedures applied in our audit of the basic financial statements and certain additional procedures, including comparing and reconciling the supplementary information to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and additional procedures in accordance with U.S. GAAS, We intend to provide an opinion on the following supplementary information in relation to the financial statements as a whole: • Combining nonmajor fund financial schedules • Other budgetary schedules • Local highway user report What inspires you, inspires us. Let's talk. eidehailly.com 7001 E. Bel eview Ave , Ste 700 Denver, CO 80237.2733 TF24 866.740.4100 T 303.770 5700 F 303.770 7581 ESE