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CALER, DONTEN, LEVINE , DRUKER, PORTER & VEIL, P. A. CERTIFIED PUBLIC ACCOUNTANTS WHIIAM K. CALER. JR., CPA 505 SOUTH FLAGLER DRIVE, SUITE 900 MEMBERS LOUIS M. COHEN, CPA WEST PALM BEACH, FL 33401 -5948 AMERICAN INSTITUTE OF DAVID S. DONTEN, CPA CERTIFIED PUBLIC ACCOUNTANTS SCOTT D. DRUKER, CPA, JD TELEPHONE (561 ) 832-9292 JAMES B. HUTCHISON, CPA FAX (561) 832-9455 FLORIDA INSTITUTE OF JOEL H. LEVINE, CPA CERTIFIED PUBLIC ACCOUNTANTS JAMES F. MULLEN, IV, CPA info@cdlcpa.com THOMAS A. PENCE, JR., CPA SCOTT L. PORTER, CPA MARK D. VEIL, CPA Management Letter To the Managers and the Audit Committee of the Board of Directors of Catholic Charities of the Diocese of Palm Beach, Inc . Under U. S . generally accepted auditing standards, auditors are encouraged to report various matters concerning internal control noted during an audit, and are required to report certain of those matters . Matters that are required to be reported are "significant deficiencies in the design or operation of internal control, which could adversely affect the organization' s ability to record, process, summarize, and report financial data consistent with the assertions of management in the financial statements . " As part of our audit of the financial statements of Catholic Charities of the Diocese of Palm Beach, Inc . , (the "Organization") for the year ended June 30, 2002, we considered the Organization' s internal control in determining the scope of our audit procedures for the purpose of rendering an opinion on the financial statements . While our purpose was not to provide assurances on internal control, certain matters came to our attention that we want to report to you. The following comments summarize our suggestions regarding those matters . CURRENT YEAR COMMENTS Physical Inventory of Tangible Personal Property The Organization does not perform a periodic physical inventory of tangible personal property. All such property should be tagged and inventoried at least annually to enhance controls and identify items that should be adjusted on the books of the Organization or possibly file insurance claims for replacement. Management 's Response: There are lists for each fund and location for the equipment that has been purchased and the Accounting Department calculates the yearly depreciation on the fixed assets. The agency has done annual inventory reports for Federal Grants. The equipment lists have been periodically updated, but there is not a yearly physical inventory taken. The Program Administrators have been keeping the Accounting Department informed of any equipment that is no longer in use. The Accounting Department will conduct yearly physical inventory of equipment.