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J . W. Gaines & Associates , Chartered J w Gaines, CPA David S. McGuire, CPA Judy Hemberger, CPA January 7, 2003 Samuel R. Peterkin, Jr. ( 19364995 ) Exchange Club Center for the Prevention of Child Abuse of the Treasure Coast, Inc . P . O. Box 12908 Fort Pierce, Florida 34979-2908 In planning and performing our audit of the financial statements of the Exchange Club Center for the Prevention of Child Abuse of the Treasure Coast, Inc. for the year ended June 30, 2002, we considered the Organization's internal control structure to plan our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on internal control structure. However, during our audit, we noted certain matters involving the internal control structure and other operational matters that are presented for your consideration. This letter does not affect our report dated January 7, 2002 on the financial statements of the Exchange Club Center for the Prevention of Child Abuse of the Treasure Coast, Inc. We will review the status of these comments during our next audit engagement. Our comments and recommendations, all of which have been discussed with appropriate members of management, are intended to improve the internal control structure or result in other operating efficiencies. We will be pleased to discuss these comments in further detail at your convenience, to perform any additional study of these matters, or to assist you in implementing the recommendations. Our comments are summarized as follows : 1 . Internal Control The size of the Organization's accounting and administrator staff preclude, certain internal controls that would be preferred if the office staff were large enough to provide optimum segregation of duties. This situation dictates that the Board of Directors remain included in the financial affairs of the Organization to provide oversight and assist with the independent review function. Investments During the course of our audit, we noted the Organization had purchased a mortgage backed security. Because of the potential volatility of this investment type, we recommend that the board closely monitor this investment. CERTIFIED PUBLIC ACCOUNTANTS 1905 SOUTH 25TH STREET, SUITE 202, FORT PIERCE, FLORIDA 34947 7714614155 FAX 772-466-7974 MFMBFR PRTVATF. C:nMPANIF_S PRACTICE AMFRICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS