C.A.F.R., FY 2006-07 - Laserfiche WebLink

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MCCLANAHAN AND HOLMES, LLP CERTIFIED PUBLIC ACCOUNTANTS R. FRANK RAY, CPA 228 SIXTH STREET, S.E. R. E. BOSTWICK, CPA PARIS, TEXAS 75460 STEVEN W. MOHUNDRO, CPA 903-784-4316 GEORGE H. STRUVE, CPA FAX 903-784-4310 ANDREW B. REICH, CPA 304 WEST CHESTNUT DENISON,TEXAS75020 903-465-6070 FAX 903-465-6093 1400 WEST RUSSELL Unqualified Opinions on Financial Statements BONHAM, TEXAS 75418 Accompanied by Required Supplementary Information 903-583-5574 FAX 903-583-9453 and Supplementary Information Independent Auditors' Report Honorable Mayor and City Council City of Paris, Texas We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information including the budgetary comparison of the City of Paris, Texas, as of and for the year ended September 30, 2007, which collectively comprise the City's financial statements as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the fmancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall fmancial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information including the budgetary comparison for the General Fund of the City of Paris, Texas, as of September 30, 2007, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the Urrited States of America. The management's discussion and analysis on pages 3 through 10 are not a required part of the financial statements but are supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS