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<br /> <br />Opinions <br /> <br />In our opinion, the financial statements referred to above present fairly, in all material respects, the <br />respective financial position of the governmental activities, the business-type activities, each major fund, <br />and the aggregate remaining fund information of the City as of June 30, 2016 and the respective changes in <br />financial position and, where applicable, cash flows thereof for the year then ended in conformity with <br />accounting principles generally accepted in the United States of America. <br /> <br />Change in Accounting Principles <br /> <br />Management adopted the provisions of the following Governmental Accounting Standards Board <br />Statement, Statement No. 72 – Fair Value Measurement and Valuation which became effective during the <br />year ended June 30, 2016, that requires modifications of the notes to the financial statements as discussed in <br />Note 1N to the financial statements. <br /> <br />The emphasis of this matter does not constitute a modification to our opinions. <br /> <br />Other Matters <br /> <br />Required Supplementary Information <br /> <br />Accounting principles generally accepted in the United States of America require that Management’s <br />Discussion and Analysis and other Required Supplementary Information, as listed in the Table of Contents, <br />be presented to supplement the basic financial statements. Such information, although not a part of the basic <br />financial statements, is required by the Governmental Accounting Standards Board, who considers it to be <br />an essential part of financial reporting for placing the basic financial statements in an appropriate <br />operational, economic or historical context. We have applied certain limited procedures to the required <br />supplementary information in accordance with auditing standards generally accepted in the United States of <br />America, which consisted of inquiries of management about the methods of preparing the information and <br />comparing the information for consistency with management’s responses to our inquiries, the basic financial <br />statements, and other knowledge we obtained during our audit of the basic financial statements. We do not <br />express an opinion or provide any assurance on the information because the limited procedures do not <br />provide us with sufficient evidence to express an opinion or provide any assurance. <br /> <br />Other Information <br /> <br />Our audit was conducted for the purpose of forming opinions on the financial statements that collectively <br />comprise the City’s basic financial statement. The Introductory Section, Supplemental Information, and <br />Statistical Section as listed in the Table of Contents are presented for purposes of additional analysis and are <br />not required parts of the basic financial statements. <br /> <br />The Supplemental Information is the responsibility of management and was derived from and relates <br />directly to the underlying accounting and other records used to prepare the basic financial statements. Such <br />information has been subjected to the auditing procedures applied in the audit of the basic financial <br />statements and certain additional procedures, including comparing and reconciling such information directly <br />to the underlying accounting and other records used to prepare the financial statements or to the financial <br />statements themselves, and other additional procedures in accordance with auditing standards generally <br />accepted in the United States of America. In our opinion, the Supplemental Information is fairly stated in all <br />material respects in relation to the basic financial statements as a whole. <br /> <br />The Introductory and Statistical Sections have not been subjected to the auditing procedures applied in the <br />audit of the basic financial statements and, accordingly, we do not express an opinion or provide any <br />assurance on them. <br /> <br /> <br />2