Laserfiche WebLink
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
McClanahan and Holmes, LLP <br />CERTIFIED PUBLIC ACCOUNTANTS <br />R. E. BOSTWICK, CPA <br />STEVEN W.MOHUNDRO,CPA <br />GEORGE H. STRUVE, CPA <br />ANDREW B. REICH, CPA <br />RUSSELL P. WOOD, CPA <br />DEBRA J. WILDER, CPA <br />Inde�endent Auditors' Report <br />Board of Directors <br />Paris Economic Development Corporation <br />Paris, Texas <br />228 SIXTH STREET S.E. <br />PARIS, TEXAS 75460 <br />903-784�316 <br />FAX 903-784-4310 <br />304 WEST CHESTNUT <br />DENISON, TEXAS 75020 <br />903-465-6070 <br />FAX 903-465-6093 <br />1400 WEST RUSSELL <br />BONHAM, TEXAS 75418 <br />903-583-5574 <br />FAX 903-583-9453 <br />We have audited the accompanying financial statements of Paris Economic Development Corporation (PEDC), a <br />component unit of the City of Paris, Texas, as of and for the year ended September 30, 2012, as listed in the table of <br />contents. These financial statements are the responsibility. of PEDC's management. Our responsibility is to express <br />an opinion on these financial statements based on our audit. <br />We conducted our audit in accordance with auditing standards generally accepted in the United States of America. <br />Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the <br />financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence <br />supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting <br />principles used and significant estimates made by management, as well as evaluating the overall financial statement <br />presentation. We believe that our audit provides us with a reas,onable basis for our opinion. <br />In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position <br />of PEDC as of September 30, 2012, and the results of its activities for the year then ended in conformity with <br />accounting principles generally accepted in the United States of America. <br />Our audit was conducted for the purpose of forming an opinion on the financial statements taken as a whole. The <br />Continuing Disclosure Information is presented for purposes of additional analysis and is not a required part of the <br />financial statements. Such information has not been subjected to the auditing procedures applied in the audit of the <br />financial statements, and accordingly, we express no opinion on it. <br />Accounting principles generally accepted in the United States of America require that the budgetary comparison <br />information on page 10 be presented to supplement the basic financial statements. Such information, although not a <br />part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers <br />it to be an essential part of imancial 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 express <br />an opinion or provide any assurance on the information because the limited procedures do not provide us with <br />sufficient evidence to express an opinion or provide any assurance. <br />AMERICAN INSTITUTE OF CERTIFIED PUBL�C ACCOUNTANTS <br />