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Financial Statement Disclosures <br />Certain financial statement disclosures involve significant judgment and are particularly sensitive because of <br />their significance to financial statement users. The most sensitive disclosures affecting the City's financial <br />statements relate to: <br />The disclosures of Commitments in Note 10 and Tax, Spending, and Debt Limitations in Note 13. <br />Significant Difficulties Encountered during the Audit <br />We encountered no significant difficulties in dealing with management relating to the performance of the <br />audit. <br />Uncorrected and Corrected Misstatements <br />For purposes of this communication, professional standards require us to accumulate all known and likely <br />misstatements identified during the audit, other than those that we believe are trivial, and communicate <br />them to the appropriate level of management. Further, professional standards require us to also <br />communicate the effect of uncorrected misstatements related to prior periods on the relevant classes of <br />transactions, account balances or disclosures, and the financial statements as a whole.Uncorrected <br />misstatements or matters underlying those uncorrected misstatements could potentially cause future -period <br />financial statements to be materially misstated, even though the uncorrected misstatements are immaterial <br />to the financial statements currently under audit. <br />The following misstatements that we identified as a result of our audit procedures were brought to the <br />attention of, and corrected by, management: <br />General Fund <br />Dr. Receivable $1,022,384 <br />Cr. Deferred inflows of resources $1,022,384 <br />To recognize the FEMA grant receivable as of December 31, 2023 <br />Open Space & Parks Fund <br />Dr. Receivable $216,770 <br />Cr. Deferred inflows of resources $216,770 <br />To recognize the FEMA grant receivable as of December 31, 2023 <br />Capital Proiects Fund <br />Dr. Receivable $122,995 <br />Cr. Deferred inflows of resources $122,995 <br />To recognize the FEMA grant receivable as of December 31, 2023 <br />Consolidated Utility Fund <br />Dr. Receivable $1,212,085 <br />Cr. Deferred inflows of resources $1,212,085 <br />To recognize the FEMA grant receivable as of December 31, 2023 <br />14/81 <br />