Loading...
HomeMy WebLinkAbout2000 FIFD RECEIVED JUL 1 3 2001 Sout!lo/.f T nwn CI~ ~ b . FISHERS ISLAND FERRY DISTRICT SUPPLEMENTAL FINANCIAL REPORTS IN ACCORDANCE WITH THE OMB CIRCULAR A-133 DECEMBER 31, 2000 OHERTV EALS_& ANKS, P.C. CERTIFIED PUBLIC ACCOUNTANTS t I I , I I ! FISHERS ISLAND FERRY DISTRICT DECEMBER 31, 2000 , . CONTENTS I j I Report on Compliance and Internal Control over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards . . . Report on Compliance with Requirements Applicable to each Major Program, on Internal Control over Compliance in Accordance with OMB Circular A-I33, and on the Schedule of Expenditures of Federal Awards 0 0 0 0 0 0 0 . 0 0 0 0 0 0 Schedule of Expenditures of Federal Awards . . . . . . . . . . . . . . . . Notes to the Schedule of Expenditures of Federal Awards Schedule of Findings and Questioned Costs 0 0 0 0 0 0 . . DOHERTY. BEALS Be BANKS, P.Co 1 3 5 6 7 r- DOHERTY, BEALS & BANKS, P.C. CARL A. BANKS. CPA STACEY L. c;.UALTIERI, CPA KATHLEEN A. STEAMER. CPA EVELYN A. COOKE, CPA DAVID J. MICELI, CPA CERTIFIED PUBLIC ACCOUNTANTS '87 WILLIAMS STREET POST OFFICE BOX 158 NEW LONDON, CONNECTICUT 08320 t (880) 4,43.2033 FAX (860) 444-7088 .. COMBINED REPORT ON COMPLIANCE AND INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Board of Commissioners Fishers Island Ferry District Fishers Island, NY 06390 We have audited the general-purpose financial statements of the Fishers Island Ferry District, as of and for the year ended December 31, 2000, and have issued our report thereon dated May 24, 2001. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Compliance As part of obtaining reasonable assurance about whether the Fishers Island Ferry District's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Governmen t Audi ting Standards. Internal Control Over Financial Reporting In planning and performing our audit, we considered Fishers Island Ferry District's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a condition - 1 - , t in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. This report is intended solely for the information of the governing council, management, and Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specific parties. ~~~~E~~~S'~~ May 24, 2001 - 2 - DOHERTY. BEALS 8< BANKS. P.C. , DOHERTY, BEALS Be BANKS, P.C. CARL A. SANKS, CPA sTACEY L. GUALTIERI. CPA KATHLEEN A. STEAMER. CPA EVELYN A. COOKE, CPA DAVID J. MICELI. CPA CERTIFIED PUBLIC ACCOUNTANTS 187 WILLIAMS STREET POST OFFICE. BOX 58 NEW LONDON, CONNECTICUT 08320 t. (880) 4.3.2.033 FAX (880) 444.7086 ", REPORT ON COMPL~ANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM, THE INTERNAL CONTROL OVER COMPLIANCE, AND THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IN ACCORDANCE WITH OMB CIRCULAR A-133 Board of Commissioners Fishers Island Ferry District Fishers Island, NY 06390 Compliance We have audited the compliance of the Fishers Island Ferry District with the types of compliance requirements described in the U.S. Office of Management and Budget 10MB) circular A-133 compliance Supplement that are applicable to each of its major federal programs for the year ended December 31, 2000. The major federal programs are identified in the summary of auditors' results section of the accompanying schedule of findings and questioned costs. compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major federal programs is the responsibility of the Fishers Island Ferry District's management. Our responsibility is to express an opinion on the Fishers Island Ferry District's compliance based on our audit. We conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the united States; and OMB Circular A-133, Audits of States, Local Governments, and Non- profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major program occurred. An audit includes examining, on a test basis, evidence about the Fishers Island Ferry District's compliance with those requirements and performing such other procedures, as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on the Fishers Island Ferry District's compliance with those requirements. In our opinion, the Fishers Island Ferry District complied, in all material respects, with the requirements referred to above that are applicable to each of its major federal programs for the year ended December 31, 2000. - 3 - Internal Control Over Compliance The management of the Fishers Island ferry District is responsible for establishing and maintaining effective int~rnal control over compliance with the requirements of laws, regulations, contracts and grants applicable to federal programs. In planning and performing our ,audit, we considered the Fishers Island Ferry District's internal control over compliance with requirements that could have a direct and material effect on a major federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133. Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. Schedule of Expenditures of Federal Awards We have audited the general-purpose financial statements of the Fishers Island Ferry District as of and for the year ended December 31, 2000, and have issued our report thereon dated May 24, 2001. Our audit was performed for the purpose of forming an opinion on the general-purpose financial statements taken as a whole. The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by OMB Circular A-133 and is not a required part of the general-purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general-purpose financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. This report is intended for the information of the governing council, management, and federal award agencies and pass-through entitles and is not intended to be and should not be used by anyone other than these specified parties. ~~~~A~K:' 13~ P.C. May 24, 2001 - 4 - nOHF:RTV BEALS 8< BANKS. P.C. FISHERS ISLAND FERRY DISTRICT SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED DECEMBER 31, 2000 t. Federal Grantor pass-through Grantor program Title Federal CFDA Number U.S. Department of Transportation Pass Through Program From: New York State Department of Transportation Highway Planning and Construction, Wharf Reconstruction 20.205 TOTAL EXPENDITURES OF FEDERAL AWARDS See notes to schedule. - 5 - DOHERTY. BEALS & BANKS, P.C. Pass-Through Grantor's Number . . 0757-48321 $ Federal EXDenditures 640,000 $ 640.000 FISHERS ISLAND FERRY DISTRICT NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED DECEMBER 31, 2000 t 1. BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Fishers Island Ferry District and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Circular A-I33, Audits of States, Local Governments, and Non-Profit organizations. , . - 6 - DOHERTY, BEALS 8< BANKS. P.C. , FISHERS ISLAND FERRY DISTRICT SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED DECEMBER 31, 2000 r. SECTION I - Summary of Auditor's Results Financial Statements Type of auditorls report issued: unqualified Internal control over financial reporting: 2. Material weakness(es) identified? _ yes ..lL no 3. Reportable condition(s) identified that are not considered to be material weaknesses? . . _ yes -K- none reported Noncompliance material to financial statements noted? _ yes ..lL no Federal Awards Internal control over major programs: 4. Material weakness (es) identified? _ yes ..lL no 5. Reportable condition(s) identified that are not considered to be material weakness(es)? _ yes ..lL none reported Type of auditor's report issued on compliance for major programs: unqualified Any audit findings disclosed that are required to be reported in accordance with OMB Circular A-133 Section 510(a)? _ yes ..lL no Identification of major programs: Dollar threshold used to distinguish between type A and type B programs: $300.000.00 Auditee qualified as low-risk auditee? _ yes ...x... no - 7 - DOHERTY, BEALS 8< BANKS, P.C. l ~ ~ .,~ '1 , : FISHERS ISLAND FERRY DISTRICT SOUTHEASTERN CONNECTICUT, INC. SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED DECEMBER 31, 2000 t. SECTION II - Financial Statement Findings No financial statement findings or questioned costs are reported. SECTION III - Federal Award Findings and Questione~' Costs No federal award findings or questioned costs are reported. - 8 - DOHERTY. BEALS 8< BANKS, P.C.