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Indebtedness <br />The Commission has no general obligation bonded debt. <br />Budget Compliance - <br />The Commission's budgetary compliance is the responsibility of the City of Springfield. <br />Insurance and Fidelity Bonds <br />We have reviewed the Commission's insurance and. fidelity bond coverage at June 30, 2005. We ascertained that <br />such policies appeared to be in force and in compliance with legal requirements relating to insurance and fidelity <br />bond coverage. We are not competent by training to comment on the adequacy of the insurance policies. <br />Investments <br />As described in the notes to the financial statements, the Commission participates in a cash and investment pool <br />maintained by the City of Springfield, Oregon. Our review of the City's deposit and investment balances <br />indicated that the City was in compliance with ORS 294, as it pertains to investment of public funds, during the <br />year ended June 30, 2005. <br />Public Contracting and Purchasing <br />Our review of the commission's public contracting, purchasing procedures and construction of public <br />improvement requirements (ORS 279) indicated that the Commission was iri compliance. <br />Programs Funded from Outside Sources <br />We have reviewed the Commission's compliance with appropriate laws, rules, and regulations pertaining to <br />programs funded wholly or partially by other governmental agencies. The Commission is in compliance with the <br />guidelines in all material respects. <br />Financial Reporting Requirements <br />We have reviewed financial reports and other data relating to programs funded wholly or partially by other <br />governmental agencies. This data, filed with other governmental agencies, is in agreement with and supported by <br />the accounting records. <br />Highway Funds <br />The Commission received no revenues under Article IX, Section 3a of the Oregon Constitution pertaining to the <br />use of revenue from taxes on motor vehicle fuel. <br />This report is intended for the information of the governing board and management and the Secretary of State, <br />Audits Division, of the State of Oregon and is not intended to be and should not be used by anyone other than those <br />specified parties. <br />GROVE, MUELLER & SWANK, P..C. <br />CERTIFI ' CCOUNTANTS ''. <br />By: <br />Charles A. Swank, A Shareholder <br />22 November 14, 2005 - <br />