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HAROLD V. SIMPSON & COMPANY HAROLD V. SIMPSON. C.P.A. DONALD E. LAINE. C.P.A. W. PATRICK McLEAN. C.P.A. MARVIN COFFMAH. C.P.A. CERTIFIED PUBLIC ACCOUNTANTS TOWN LAKE SQUARE. SUITE 100 512 EAST RIVERSIDE DRIVE AUSTIN. TEXAS 78704 TELEPHONE (5121 447.1700 MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS J. ANTHONY SISKo C.P.A. CAROLE L. GEBHARD. C.P.A. GARY W. DAVIS. C.P.A. M""K E. PORTER. C.P .". DUDLEY D. HAWTHORNE. JR.. C.P.A. SAR" ANN RAMSEY. C.P.A. KATHLEEN AMY MONAHAN. C.P.A. LOY G. WHITE. C.P.A. JUDY F. SOSLAU. C.P.A. FRANK L. FELCM"N. JR.. C.P.". LORI K. YAGER. C.P.A. TEXAS SOCIETY 0,," CERTII'IED PUBLIC "CCOUNT"NTS December 5, 1 980 'Ihe Honorable Members of the City COuncil City of San Marcos, Texas We have examined the financial statements of the various funds and account groups of the City of San Marcos, Texas, for the year ended September 30, 1980, and have issued oor report thereon dated December 5, 1980. In addition, we have examined the accompanying oondensed aJrnbined statements for the years ended Septerrber 30, 1980 and 1979, on p:¡.ges 9 through 11 in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The condensed combined statements are presented for statistical and analytical purposes only in a manner which differs significantly from the fund and account group basis required by generally accepted accounting principles. While the condensed rornbined statements are extracted from the Annual Financial Report covered by oor cpinion dated December 5, 1980, they differ significantly from generally accepted accounting principles as follows: . separate fund and account group financial statements are rot presented, . encUlT'brances and reservations of fund balance are not shoYm, and . budget information and conparisons with actual results are not presented. In oor cpinion, because of the departures from generally accepted accounting principles referred to in the preceding p:¡ragraph, the finan- cial statements referred to atove 00 p:¡.ges 9 through 11 do not present fairly, in ronformity with generally accepted accounting principles, the financial fX)sition of the City of San Marcos, Texas, as of September 30, 1980 and 1979, or the results of its operations and manges in its financial fX)sition for the years then ended. - 8 - HAROLD V. SIMPSON & COMPANY C ERr I F I ED PUB L I C A CCOUNr ANTS