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ATTACH1VIErJT C <br />November 14, 2008 <br />To the Honorable Mayor and Members of the City Council <br />City of Eugene . <br />We have audited the financial statements of the governmental activities, the business-type activities, each major <br />fund, and the aggregate remaining fund information of the City of Eugene for the year ended Juhe 30, 2008, <br />` and have. issued. our report thereon dated November 14, 2008. Professional standards require that we provide <br />you with the following information related to our audit. . <br />Our Responsibility under U.S. Generally Accepted Auditing Standards <br />As stated in our engagement letter dated July 8, 2008, our responsibility, as described by professional <br />standards, is to express opinions about whether the financial statements prepared by management with your <br />oversight are fairly .presented, in all material respects; in conformity with U.S. generally accepted accounting <br />principles. Our audit of the finarcial statements does not relieve you or management of your responsibilities. <br />Planned Scope and Timing of the Audit ` <br />We performed the: audit according to the planned scope and timing previously communicated to management in <br />our engagement letter.., <br />Significant Audit Findings <br />Management is responsible for the selection and use of appropriate accounting policies. In accordance with the <br />terms of our engagement letter, we will advise management about~the appropriateness of accounting policies <br />and their application: The significant accounting policies used by the City of Eugene are described in Note 1 to <br />the financial statements. Na new accounting policies were adopted and the application of existing policies was' <br />not changed~during the year. <br />Accounting estimates are.an integral part of the financial statements prepared by management and are based <br />on management's knowledge and experience about past and current events -and assumptions about future <br />events. Certain accounting estimates are .particularly sensitive because of their significance to the financial <br />statements and because of the possibility that future events affecting them may differ significantly from those <br />expected. <br />Difficulties Encountered in Performing the Audit <br />We encountered no significant difficulties in dealing vyith management in performing and completing our audit. <br />City Council Agenda page 135 <br />