HomeMy WebLinkAboutWIPFLi CPA 2015-16Ψ,“|し し
Board Members
Bonneville Joint School Districi #93
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May 6, 201 6
Accounting standards generally accepted in the United States provide for certain required supplementary
information (RSl), such as management's discussion and analysis (MD&A), to supplement BonnevilleJoint
School District #93's basic financial statements. Such in{ormation, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board who considers it to be
an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. As part of our engagement, we will apply certain limited
procedures to BonnevilleJoint School District #93's RSI in accordance with auditing standards generally
accepted in the United States. These limited procedures will consist of inquiries of management
regarding the methods of preparing the information and comparing the informaiion for consistency with
management's responses to our inquiries, the basic financial statements, and other knowledge we
obtained during our audit of the basic financial statements. \(e will not express an opinion or provide any
assurance on the information because the limited procedures do not provide us with sufficient evidence to
express an opinion or provide any assurance. The following RSI is required by generally accepted
accounting principles and will be subjected to certain limited procedures but will not be audited:
1. Management's Discussion and Analysis
2. BudgetaryComparison lnformation
We have also been engaged to report on supplementary information that accompanies Bonneville Joint
School District #93's financial statements. !(e will subject the following supplementary information to the
auditing procedures applied in our audit of the financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other
records used to prepare the financial statements or to the financial statements themselves, and other
additional procedures in accordance with auditing standards generally accepted in the United States and
will provide an opinion on it in relation to the financial statements as a whole;
1. The combined and individual non-major fund financial statements
2. All Agency Funds combining Statement of Changes in Assets and Liabilities
3. Taxes Receivable Reconciliation
4. Schedule of expenditures of federal awards.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; therefore, our audit will involve judgment about the number of transactions to be
examined and the areas to be tested. An audii also includes evaluating the appropriateness of accounting
Board Members
Bonneville Joint School District #93
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May 6, 2016
policies used and the reasonableness of significant accounting estimates made by management, as well as
evaluating the overall presentation of ihe financial statements. \(e will plan and perform the audii to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
Because of the inherent limitations of an audit combined with the inherent limitations of internal control,
and because we will not pe#orm a detailed examination of all transactions, there exists an unavoidable
risk that some material misstatements may exist and not be detected even though our audit is properly
planned and performed in accordance with GMS. ln addition, an audit is not designed to detect
immaterial misstatements or violations of law or government regulations that do not have a direct and
material effect on the financial statements. However, we will inform BonnevilleJoint School District #93's
management and you of any material errors that come to our attention and any fraud, material or not, that
comes to our attention. We will also inform BonnevilleJoint School District #93 management and you of
any violations of law or government regulations that come to our attention, unless clearly inconsequential.
Our responsibility as auditors is limited to the period covered by our audit and does not extend to any
later periods for which we are not engaged as auditors.
Our audit will include obtaining an understanding of the entity and its environment, including internal
control, sufficient to assess the risks of material misstatement of the financial statements, and to design the
nature, timing, and extent of further audit procedures to be performed. An audit is not designed to
provide assurance on internal control or to identify deficiencies in internal control. However, during the
audit, we will communicate to management and you internal control related matters that are required to
be communicated under professional standards. ln addition, lhe Single Audit Act Amendments of 1996
and the OMB Circular A-133 and/or Uniform Guidance require us to obtain an understanding of internal
controls over compliance for major federal programs and determine, on a test basis, whether laws,
regulations, and provisions of grants 6nd contracts material to major federal programs have been complied
with.
\0e cannot pe#orm management functions or make management decisions on behalf of Bonneville Joint
School District #93. However, we may provide advice and recommendations to assist management in
performing its functions and fulfilling its responsibilities. We may advise management about appropriate
accounting principles and their application and may assist in the preparation of Bonneville Joint School
District #93's financial statements, but the responsibility for the financial statements remains with
management.
Manaqement Resoonsibilities
Management is responsible for the financial statements and underlying financial records and for
establishing and maintaining internal controls, including monitoring ongoing octivities; for the selection
and application of accounting principles; and for the prepdration and fair presentation of the financlaj
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Bonneville Joint School District #93
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May 6, 201 6
statements in conformity with accounting principles generally accepted in the United States.
Management is also responsible for making all financial records and related information available to us, for
the accuracy and completeness of that information, and for providing us with (a) access to all information
of which it is aware that is relevant to the preparation and fair presentation of the financial statements,
(b) additional information that we may request for the purpose of the audit, and (c) unrestricted access to
persons within BonnevilleJoint School District #93 from whom we determine it necessary to obtain audit
evidence.
Management is responsible for adjusting the financial statements to correct material misstatements and for
confirming to us in the management rePresentation letter that the effects of any uncorrected
misstatements aggregated by us during the current engagement and pertaining to the latest period
presented are immaterial, both individually and in the aggregate, to the financial statements taken as a
whole.
Management is responsible for the preparation o{ the supplementary information in conformity with
accounting principles generally accepted in the United States. You agree to include our report on the
supplementary information in any document that contains, and indicates that we have reported on, the
supplementary information. You also agree to include the audited financial statements with any
presentation of the supplementary information that includes our report thereon OR make the audited
financial statements readily available to users of the supplementary information no later than the date the
supplementary information is issued with our report thereon.
Management is responsible for the design and implementation of programs and controls to prevent and
detect fraud, and for informing us about all known or suspected fraud affecting BonnevilleJoint School
District #93 involving (a) management, (b) employees who have signi{icant roles in internal control, and
(c) others where the fraud could have a material effect on the financial statements, You are also
responsible for informing us of your knowledge of any allegations of fraud or suspected fraud affecting
BonnevilleJoint School District #93 received in communications from employees, former employees,
regulators, or others. ln addition, management is responsible for identifying and ensuring that the entity
complies with applicable laws and regulations.
fu required by GMS, at the close of the audit we will request from management certain written
confirmation concerning oral and written representations made to us in connection with the audit in order
to indicate and document the continuing appropriateness of such representations and reduce the
possibility of misu nderstanding.
lf Bonneville Joint School District #93 intends to reproduce or publish these financial statements, or any
portion thereof whether in paper or electronic form subsequent to anticipated year-end filings, and make
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Bonneville Joint School District #93
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May 6, 2016
reference to our firm name in connection therewith, management agrees to provide us with proofs in
sufficieni time for our review and written approval before priniing, lf in our professional judg ment the
circumstances require, we may withhold our approval. BonnevilleJoint School District #93 agrees to
compensate \flipfli for the time associated with such review.
Assistance to be supplied by your personnel, including the preparation of schedules and analysis of
accounts, will be discussed with April Burton. Timely completion of this work will facilitate the completion
of our engagement.
Annual Forms and Reoorts
Our audit will include reporting on:
lnternal control related to the financial statements and compliance with laws, regulations, and the
provisions of contracts or grant agreements, noncompliance with which could have a mdterial
effect on the financial statements in accordance with Government Auditing Standards. However,
this objective will not be to provide an opinion on overall compliance, and we will not express
such an opinion in our report on compliance issued pursuant lo Government Auditing Standards.
o lnternal conirol related to major programs and an opinion (or disclaimer of opinion) on
compliance with laws, regulations, and the provisions of contracts or grant agreements that could
have a direci and maierial effect on each major program in accordance with the Single Audit Act
Amendments of '1996 and OMB Circular A-133, Audits of Stateq Local Governments, and Non-
Profit Orga n iza tio ns, and I or U niform Guida nce.
Other
\fle will prepare a draft of your financial statements and related notes. You will be required to review and
approve those financial statements prior to their issuance and have a responsibility to be in a position in
fact and appearance to make an informed judgment on those financial statemenis. Further, you are
required to designate a qualified management-level individual to be responsible and accountable for
overseeing our services.
Our fees will be billed as work progresses and are based on the time required plus travel and other out-of-
pocket costs such as report production, typing, and postage. \(/henever possible, we will attempt to use
your personnel to assist in the Preparation of schedules and analysis of accounts. This effort could
substantially reduce our time requirements and facilitate the timely conclusion of the audit. Further, we
will be available during the year to consult with you on financial management and accounting matters of
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Bonneville Joint School District #93
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May 6, 201 6
routine nature. V/e expect payment of our billings within 30 days after submission. A finance charge of
1.5% per month (18% per annum) will be imposed on accounts not paid within 30 days from the date of
the invoice.
This engagement includes only those services specifically described in this Letter; any additional services
noi specified herein will be agreed to in a separate letter. This engagement is separate and discrete from
our engagement to audit any prior or future yea rs, and any such engagements are or will be covered by a
separate engagement letter. ln the event you request us to, or we are required to, respond to a
subpoena, court order, government regulatory inquiries, or other legal process against Bonneville Joint
School District #93 or its management for the production of documents and/or testimony relative to
information we obtained and/or prepared during the course of this or any prior engagements, you agree
to compensate us for all time we expend in connection with such response, at our regular rates, and to
reimburse us for all related out-of-pocket costs that we incur.
The working papers prepared in conjunction with our audit are our property and constitute confidential
information. They will be reiained by us in accordance with our policies and procedures. All of
BonnevilleJoint School District #93's original records will be returned to management at ihe end of this
engagement. Our working papers and files are not a substitute for the original records BonnevilleJoint
School District #93 should retain. We understand that we are authorized to respond directly to inquiries
from the cognizant agencies including requests to review audit workpapers. Access to the requested
workpapers will be provided to the cognizant agencies under the supervision of \(ipfli LLP's audit
personnel and at a location designed by our firm. V/e will notify you of any such inquiries or requests and
of our reply thereto.
Judy Brower, CPA will be your audit engagement partner.
Professional and certain regulatory standards require us to be independent, in both fact and appearance.
Any discussions that you have with lUipfli personnel regarding employmeni could pose a threat to our
independence. Therefore, we request that you inform us immediately prior to any such discussions so that
we can implement appropriate safeguards to maintain our independence.
ln order for us to remain independeni, professional and regulatory standards require us to maintain certain
respective roles and relationships with you with respect to any nonattest services we may be asked to
pe#orm. Prior to performing such services in conjunction with our audit, management must acknowledge
its acceptance of certain responsibilities.
\i(henever possible, each provision of this Letter shall be interpreted in such a manner as to be effective
and valid under applicable laws, regulations, or published interpretations, but if any provision is deemed
prohibited, invalid, or otherwise unenforceable, such provision shall be ineffective only to the extent of
such prohibition, invalidity, or u nenforceability and such revised provision shall be made a part of this
Board Members
Bonneville Joint School District #93
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May 6, 2016
Letter. Further, the provisions of the foregoing sentence shall not invalidate the remainder of this Letter.
This Letter shall be construed and governed in accordance with laws of the state in which the Wipfli office
issuing this Letter is located, as determined by the address indicated on this Letter, and proper jurisdiction
and venue for any matter hereunder shall be the state or federal courts of that state.
lf the above terms are acceptable to you and the services outlined are in accordance with your
requirements, please return a signed copy of this Letter to us.
We look forwa rd to our continued association with you and your staff and appreciate the opportunity to
serve you. Please do not hesitate to call us if you have any questions about the work we are to perform
or any other aspect of the services we can provide.
Sincerely,
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Wipf∥LLP
CPAs and Consutants
ACCEPTED: Bonnevi∥e Joint SCh。。I Distnct#93
(p面 nt Name and Title)
By:
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