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OUaire, Kmetz, Nuttall, Field & Co . , chartered <br /> November 5 , 2002 <br /> Page three <br /> 12 . There are no : <br /> - - - --- - - a. Violations or possible violations of laws and regulations and provisions or-contracts - <br /> and grant agreements whose effects should be considered for disclosure in the <br /> financial statements or as a basis for recording a loss contingency. <br /> b . We are not aware of any pending or threatened litigation, claims, or assessments or <br /> unasserted claims or assessments that are required to be accrued or disclosed in the <br /> financial statements in accordance with Statement of Financial Accounting Standards <br /> No . 5 , and we have not consulted a lawyer concerning litigation, claims, or <br /> assessments. <br /> C, Other material liabilities or gain or loss contingencies that are required to be accrued <br /> or disclosed by Statement of Financial Accounting Standards No . 5 . <br /> d. Designations of net assets disclosed to you that were not properly authorized and <br /> approved, or reclassifications of net assets that have not been properly reflected in the <br /> financial statements. <br /> 13 . The Cultural Council of Indian River County, Inc. has satisfactory title to all owned assets, <br /> and there are no liens or encumbrances on such assets nor has any asset been pledged. <br /> 14. We have complied with all restrictions on resources, if any, and aspects of contractual and <br /> grant agreements that would have a material effect on the financial statements in the event of <br /> noncompliance. This includes complying with donor requirements to maintain a specific <br /> asset composition necessary to satisfy their restrictions . <br /> No events have occurred subsequent to the statement of financial position date and through the date <br /> of this letter that would require adjustment to, or disclosure in, the financial statements . <br /> Signature: ,) <br /> Title : <br /> q0J <br />