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<br /> Report of Independent Auditors
<br /> The Honorable Mayor and City Council
<br /> City of San Marcos, Texas
<br /> \Ve have audited the general purpose financial statements of the City of San Marcos,
<br /> Texas as of and for the year ended September 30, 1992, as listed in the table of contents.
<br /> These financial statements are the responsibility of the City's management. Our
<br /> responsibility is to express an opinion on these financial statements based on our audit.
<br /> \Ve conducted our audit in accordance with generally accepted auditing standards. Those
<br /> standards require that we plan and perform the audit to obtain reasonable assurance about
<br /> whether the general purpose financial statements are free of material misstatement. An
<br /> audit includes examining, on a test basis, evidence supporting the amounts and
<br /> disclosures in the financial statements. An audit also includes assessing the accounting
<br /> principles used and significant estimates made by managemen1, as well as evaluating the
<br /> ..
<br /> overall general purpose financial statement presentation. \Ve believe that our audit
<br /> provides a reasonable basis for our opinion.
<br /> In our opinion, the general purpose financial statements referred to above present fairly,
<br /> in all material respects, the financial position of the City of San Marcos, Texas at
<br /> September 30, 1992, and the results of its operations and the cash flows of its proprietary
<br /> fund types and similar trust funds for the year then ended in conformity with generally
<br /> accepted accounting principles.
<br /> Our audit was made for the purpose of forming an opinion on the general purpose
<br /> financial statements taken as a whole. The combining, individual fund, and individual
<br /> account group financial statements and schedules, listed in the table of contents, are
<br /> presented for purposes of additional analysis and are not a required part of the general
<br /> purpose financial statements of the City of San :tY1arcos, Texas. Such information has
<br /> been subjected to the auditing procedures applied in the audit of the general purpose
<br /> financial statements and, in our opinion, is fairly stated in all material respects in relation
<br /> to the general purpose financial statements taken as a whole. The information included in
<br /> the Statistical Section as listed in the table of contents was not audited by us and,
<br /> accordingly, we express no opinion on such information.
<br /> ~-fH
<br /> December 31, 1992
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