FY2011 County Audit

THE HONORABLE MEMBERS OF THE BOARD OF SUPERVISORSCOUNTY OF WASHINGTON, VIRGINIAWe have audited the accompanying financial statements of the governmental activities, theaggregate discretely presented component units, each major fund and the aggregate remaining fundinformation of the County of Washington, Virginia, as of and for the year ended June 30, 2011, whichcollectively comprise the County’s basic financial statements as listed in the table of contents.These financial statements are the responsibility of the County of Washington, Virginia’smanagement. Our responsibility is to express opinions on these financial statements based on ouraudit. We did not audit the financial statements of the Washington County Park Authority, acomponent unit, whose statements reflect total assets of $1,777,951 as of June 30, 2011 and totalrevenues of $274,297 for the year then ended. We did not audit the financial statements of theIndustrial Development Authority a component unit, whose statements reflect total assets of$31,216,872 as of June 30, 2011 and total revenues of $3,082,587 for the year then ended. We didnot audit the financial statements of the Virginia Highlands Airport Authority, a component unit,whose statements reflect total assets of $18,576,068 as of June 30, 2011 and total revenues of$2,220,151 for the year then ended. Those statements were audited by other auditors whose reportshave been furnished to us, and our opinion, insofar as it relates to the amounts included for theWashington County Park Authority, the Industrial Development Authority, and the Virginia HighlandsAirport Authority, is based solely on the report of other auditors.We conducted our audit in accordance with auditing standards generally accepted in the UnitedStates of America; the standards applicable to financial audits contained in Government AuditingStandards, issued by the Comptroller General of the United States; and the Specifications for Auditsof Counties, Cities, and Towns, issued by the Auditor of Public Accounts of the Commonwealth ofVirginia. Those standards require that we plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free of material misstatement. An audit includesexamining, on a test basis, evidence supporting the amounts and disclosures in the financialstatements. An audit also includes assessing the accounting principles used and significant estimatesmade by management, as well as evaluating the overall financial statement presentation. Webelieve that our audit and the report of other auditors provide a reasonable basis for our opinions.

 

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