1998 S Finance - Deloitte and Touche, LLP - Audit contract for the June 30 1998 Fiscal Year

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June 4, 1998 The Board of County Commissioners Page 3 As part of our audit of compliance with the requirements of major federal programs, we will obtain an understanding of the County's internal control related to administering major federal programs and we will assess risk as required by OMB Circular A -133 for the purpose of establishing the nature, timing, and extent of auditing procedures necessary for expressing an opinion concerning compliance with laws and regulations related to major federal award programs. As required by OMB Circular A -133, our audit of compliance will also include tests of transactions related to federal award programs for compliance with applicable laws and regulations. However, because of the concept of reasonable assurance and because we will not perform a detailed examination of all transactions, there is a risk that material errors, fraud or illegal acts may exist and not be detected by us. We will advise you, however, of any matters of that nature that come to our attention, and will include such matters in the reports required for an audit in accordance with OMB Circular A -133. Our responsibility as auditors is limited to the period covered by our audit and does not extend to matters that arise during any subsequent periods for which we have not been engaged as auditors or for which we have performed no substantive auditing procedures. The objective of an audit carried out in accordance with the standards described above is (1) the expression of an opinion concerning whether the general purpose financial statements present fairly, in all material respects the financial position, results of operations, and cash flows of the proprietary fund type of the County in conformity with generally accepted accounting principles, (2) reporting on the internal control relevant to an audit of the general purpose financial statements, (3) reporting on the County's compliance with laws and regulations, which could have a material effect on the general purpose financial statements, (4) reporting on whether the schedule of expenditures of federal awards is fairly stated in all material respects when considered in relation to the basic general purpose financial statements taken as a whole, (5) the reporting on our determination as to whether the County's internal control provides reasonable assurance of compliance with federal laws and other laws and regulations, (6) the expression of an opinion on whether the County complied with specific terms and conditions of its major federal programs, and (7) preparation of a schedule of findings and questioned costs to summarize the results of the audit in accordance with the requirements of OMB Circular A -133.