| Lewis County, New York - LCIDA's INDEPENDENT AUDITORS' REPORT |
| INDEPENDENT
AUDITORS' REPORT BOARD OF DIRECTORS COUNTY OF LEWIS INDUSTRIAL DEVELOPMENT AGENCY LOWVILLE, NEW YORK We have audited the accompanying basic financial statements of the County of Lewis Industrial Development Agency (a State of New York corporate governmental agency), as of and for the years ended May 31, 2005 and 2004 as listed in the table of contents. These basic financial statements are the responsibility of the County of Lewis Industrial Development Agency’s management. Our responsibility is to express an opinion on these basic financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the basic financial statements referred to above present fairly, in all material respects, the financial position of the County of Lewis Industrial Development Agency as of May 31, 2005 and 2004 and the results of its operations and cash flows for the years then ended in conformity with the accounting principles generally accepted in the United States of America. The management’s discussion and analysis on pages 3 through 7 is not a required part of the basic financial statements but is supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquires of management regarding the methods of measurement and presentation of the supplementary information. However, we did not audit the information and express no opinion on it. 1
Board of Directors County of Lewis Industrial Development Agency Page -2- In accordance with Government Auditing Standards, we have also issued our report dated June 29, 2005 on our consideration of the County of Lewis Industrial Development Agency's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit.
Sovie & Bowie C.P.A.,
P.C.
June 29, 2005 |
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