Miscellaneous CHERRY
BEKAERT&
HOLLAND
CFRTIF1PD PUBLIC
Accot to rAN "rS &
CONSU I TA TS
August 6, 2012
To the Honorable Mayor and Board of Commissioners
of Monroe County, Florida
500 Whitehead Street
Key West, Florida 33040
We are engaged to audit the financial statements of the governmental activities, the business -type
activities, the aggregate discretely presented component units, each major fund, and the aggregate
remaining fund information of Monroe County, Florida (the "County ") for the year ended September 30,
2012. Professional standards require that we provide you with the following information related to our
audit. We would also appreciate the opportunity to meet with you to discuss this information further
since a two -way dialogue can provide valuable information for the audit process.
Our Responsibility under U.S. Generally Accepted Auditing Standards
As stated in our contract dated July 18, 2012, our responsibility, as described by professional
standards, is to express opinions about whether the financial statements prepared by management
with your oversight are fairly presented, in all material respects, in conformity with U.S. generally
accepted accounting principles. Our audit of the financial statements does not relieve you or
management of your responsibilities.
In planning and performing our audit, we will consider the County's internal control over financial
reporting in order to determine our auditing procedures for the purpose of expressing our opinions on
the financial statements and not to provide assurance on the internal control over financial reporting.
We will also consider 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 and the Florida Single Audit Act.
As part of obtaining reasonable assurance about whether the County's financial statements are free of
material misstatement, we will perform 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 is not an objective of our audit. Also in accordance with the requirements of the
Single Audit Act of 1996, OMB Circular A -133 and the Florida Single Audit Act, we will examine, on a
test basis, evidence about the County's compliance with the types of compliance requirements
described in the "U.S. Office of Management and Budget (OMB) Circular A -133 Compliance
Supplement" and „ Chapter 10.550, Rules of the Auditor General” applicable to each of its major
programs for the purpose of expressing an opinion on the County's compliance with those
requirements. While our audit will provide a reasonable basis for our opinion, it will not provide a legal
determination on the County's compliance with those requirements.
Other Information in Documents Containing Audited Financial Statements
Our responsibility for the supplementary information accompanying the financial statements, as
described by professional standards, is to evaluate the presentation of the supplementary information
in relation to the financial statements as a whole and to report on whether the supplementary
information is fairly stated, in all material respects, in relation to the financial statements as a whole.
Planned Scope and Timing of the Audit
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; therefore, our audit will involve judgment about the number of transactions to be
examined and the areas to be tested.
Our audit will include obtaining an understanding of the County and its environment, including internal
control, sufficient to assess the risks of material misstatement of the financial statements and to
design the nature, timing, and extent of further audit procedures. Material misstatements may result
from (1) errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or (4) violations of
laws or governmental regulations that are attributable to the County or to acts by management or
employees acting on behalf of the County. We will communicate our significant findings at the
conclusion of the audit. We will also communicate any internal control related matters that are
required to be communicated under professional standards.
We expect to begin our audit field work on approximately November 5, 2012 and issue our report on
approximately March 31, 2012.
This information is intended solely for the use of the Board, management, specific legislative or
regulatory bodies, federal and State awarding agencies, and if applicable, pass- through entities of the
County, and is not intended to be and should not be used by anyone other than these specified
parties.
Very truly yours,