HomeMy WebLinkAboutWIPFLi (GHG) CPA 2014-15\(/ipIli LLP
1220 Vhitewater Drive
ld.ho Falls, lD 63402-4959
208.523.5953
fax 208.523.8995
www.wipfh.com
April 20, 2O15
Board of Trustees
Bonneville Joint School District #93
3497 N. Ammon Road
ldaho Falls, ldaho 8340'l
Dear Board Members:
\(e are pleased to serve as your independent auditors for Bonneville Joint School District #93 for the
year ended June 30, 2015. The purpose of this Engagement Letter is to review certain details of our
engagement.
Audit Services
\fle will audit the financial statements of the governmental activiiies, each major fund, and the aggregate
remaining fund information and the related notes io the financial statements for Bonneville Joint School
District #93. The objective of our audit is the expression of an opinion about whether your financial
statements are fairly presented, in all material respects, in conformity with accounting principles
generally accepted in the United States and to report on the fairness of the schedule of expenditures of
federal and state awards when considered in relation to the financial statements taken as a whole. Our
audit will be conducted in accordance with auditing standards generally accepted in the United States
(GMS); the standards for financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States; the provisions of OMB Circular A-133, Audits of States, Local
Governments and Nonprofit Organizations; ll're Single Audit Act Amendments of 7 996; and will include
tests of your accounting records and other procedures we consider necessary to enable us to express
such an opinion. Ve cannot provide assurance that an unmodified opinion will be expressed.
Circumstances may arise in which it is necessary for us to modify our opinion or add an emphasis-of-
matter or other-matter paragraph. lf our opinion is other than unmodified, we will discuss the reasons
with you in advance. lf, for any reason, we are unable to complete the audit or are unable to form or
have not formed an opinion, we may decline to express an opinion or to issue a report as a result of this
engagement. At the conclusion of our audit, we will require certain written representations from you
about the financial statements and related matters.
WIIDFLl
( I) \' it rl ( () 'ultu t\
Board of Trustees
Bonneville Joint School District #93
Page 2
April 20, 2015
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
Bonneville Joint School District #93's basic financial statements. Such information, 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. fu part of our engagement, we will apply
certain limited procedures to Bonneville Joint School District #93's RSI in accordance with auditing
standards generally accepted in the Uniied States. These limited procedures will consist of inquiries of
management regarding the methods of preparing the information and comparing the information 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. We 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. Budgetary Comparison lnformation
We have also been engaged to report on supplementary information that accompanies BonnevilleJoint
School District #93's financial statements. Ve 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-ma.ior fund financial siatements
2. All Agency Funds Combining Statement of Changes in fusets 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
Board of Trustees
Bonneville Joint School Dishict #93
April20,2O15
examined and the areas to be tested. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements. We will plan and
perform the audit 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 perform a detailed examination of all transactions, there exists an unavoidable
risk that some material misstatements may exist and not be detecied even though our audit is properly
planned and performed in accordance with GMS. ln addition, an audit is not designed to detect
immaterial misstatemenis or violations of law or government regulations that do not have a direct and
material effect on the financial statements. However, we will inform Bonneville Joint 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. Ve will also inform BonnevilleJoint School District #93's management and
you of any other illegal acts that come to our attention, unless clearly inconseq uential. Our responsibility
as auditors are 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.
Ve cannoi perform management functions or make management decisions on behalf of Bonneville Joint
School District #93. However, we may provide advice and recommendatlons 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.
Manaoement Resoonsibilities
Management is responsible for the financial statements and underlying financial records and for
establishing and maintaining internal controls, including monitoring ongoing activities; for the selection
and application of accounting principles; and for the fair presentation of the financial statements in
conformity with accounting principles generally accepted in the United States. Management is also
Board of Trustees
Bonneville Joint School Dishict #93
Page 4
April 20, 2015
responsible for making all financial records and related information available to us, for ihe 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 ihe audit, and (c) unrestricted access to persons
within Bonneville Joint 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 of 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 flnancial 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 Bonneville Joint School
Dishict #93 involving (a) management, (b) employees who have significant 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
Bonneville Joint 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 part of the audit, we may 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
responsibiliiy to be in a position in fact and appearance to make an informed judgment on those
financial statements. Further, you are required to designate a qualified management-level individual to
be responsible and accountable for overseeing our services.
As 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
Boord of Trustees
Bonneville Joint School District #93
April 20, 2O15
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, and make reference to our firm name in connection
therewith, management agrees to provide us with proofs in sufficient time for our review and written
approval before printing. lf in our professional judgment the circumstances require, we may wiihhold
our approval. Bonneville Joint School District #93 agrees to compensate Vipfli 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 Reports
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 material
effect on the financial statements in accordance w'ih 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 Internal control 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 direct and material effect on each major program in accordance with the Single Audit Act
Amendments of 1 996 and OMB Circular A-133, Audits of States, Local Governments, and Non-
Profit Organizations.
Other
Our fees are based on the amount of time required at various levels of responsibility, plus actual out-of-
pocket expenses. Invoices will be rendered monthly and are payable upon presentation. Vhenever
possible, we will attempt to use your personnel to assist in the preparation of schedule and analysis of
accounts. This effort could substantially reduce out 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 routine nature.
Board of Trustees
Bonneville Joint School District #93
Page 6
April 20, 2015
This engagement includes only those services specifically described in this Letter; any additional services
not 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 years, 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 retained by us in accordance with our policies and procedures. All of the
District's original records will be returned to management at the 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. \fle will notify you of any such inquiries or requests and of our reply
thereto.
Judiih K. Brower, C.P.A 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 Wipfli personnel regarding employment 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 independent, 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 perform. Prior to performing such services in conjunction with our audit, management must
acknowledge its acceptance of certain responsibilities.
Vhenever 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 unenforceability and such revised provision shall be made a part of this
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 \(ipfli
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 staie or federal courts of that state.
Board of Trustees
Bonneville.loint School District #93
Page 7
April 20, 20'15
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 forward 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,
a夕 餞μグ んと′
Wipf∥LLP
CPAs and Consutants
ACCEPTED:
By:
Bonneville Joint School _District #93
(p∥nt Name and Tiue)