07-08-1996 Council Packet - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Instimte of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose 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 maners involving the internal coi^^l structure and its operation that we consider to be material weaknesses as defined above. We noted matters involving the internal control structure and its operation that we have reported to the management of the City of Orono in a separate report dated May 29, 19%. This report is intended for the information of the City Council and management of tfie City of Orono. However, this report is a matter of public record and its distribution is not limited. May 29. 19% -129-