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MAY-28-2003 1104 CHS REGION THREE Delor"e & Torr:h' uu LLt ' sarmwa rn.a natuwn ..nca P . 17121 Suite low 200 !j"hOrange Avuiwe ' Orlando, FWida 37801 -3413 Tel: (407) 246-8200 Fax: (407) 422.0936 "VMtjr($efoft«Xom Deloitte & Touche INDEPENDENT AUDITORS' REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED UPON THE AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS To the Board of Directors The Children 's Home Society of Florida: we have audited the financial statements of The Children' s Home Society of Florida ("CHS ") as of and for the year ended June 30, 2002, and have issued our report thereon dated April 11 , 2003 . We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing .5ua7dardt, issued by the Comptroller General of the United States. Compliance As part of obtaining reasonable assurance about whether CHS' s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts . However, providing an opinion on compliance with those provisions was not an objective of our audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards . internal Contra Over r1nancW Repelling In planning and performing our audit, we considered CHS ' s internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. However, we noted certain matters involving the internal control over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operations of the internal control over financial reporting that, in our judgment, could adversely affect CHS' s ability to record, process, summarize and report financial data consistent with the assertions of management in the financial statements. The reportable condition that we noted is described below. During the fiscal year ended June 30, 2002, CHS did not reconcile several accounts on • a monthly basis including Cash, Accounts Receivable and Accounts Payable. The failure to perform necessaryreconciliations impaired CHS' s ability to prepare periodic internal financial statements and could result in such periodic internal financial statements being materially misstated. Reconciliations should be performed for all significant accounts on a monthly basis and reviewed by an appropriate member of management. Deloitte - Touche Tohmatsu