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l~ Vavrinek, Trine, Qay & Co., L1P Certified Public Accountants INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUD1'TING STANDARDS To the Board of Directors of the Redevelopment Agency of San Leandro San Leandro, California We have audited the basic financial statements of the governmental activities and each major fund of the Redevelopment Agency of San Leandro (Agency) a component unit of the City of San Leandro (City) as of and for the year ended June 30, 2008, which collectively comprise the Agency's basic financial statements, and have issued our report thereon dated December 24, 2008. We conducted our audit in accordance with auditing standards in the United States of America and the standard applicable to financial audits contained in Governrnental Auditing Standards, issued by the Comptroller General of the United States. Inter~ial Control over Financueg Reporting In planning and performing our audit, we considered Agency's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Agency's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Agency's internal control over fnancial reporting. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the Agency's ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the Agency's financial statements that is more than inconsequential will not be prevented or detected by the Agency's internal control. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote Iikelihood that a material misstatement of the financial statements will not be prevented or detected by the Agency's internal control. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over f nancial reporting that we consider to be material weaknesses, as defined above. 5000 tlopyard Road, Suite 335 Pleasanton, CA 945138-335] Tel: 925-734.6600 Fax: 925.134.6611 www.Ndcpa.com FRESNO • LAGUNA HILLS • PALO ALTO • PLEASANTON • RANCHO CUGAMONGA