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INDEPENDENT AUDITORS' REPORT
Honorable Mayor, City Commission and City Manager
City of Atlantic Beach
Atlantic Beach, Florida .
We have audited the accompanying general-purpose financial statements of the City of Atlantic Beach,
Florida as of September 30, 1998, and for the year then ended, as listed in the accompanying table of
contents. These general-purpose financial statements are the responsibility of the City's management.
Our responsibility is to express an opinion on these general-purpose financial statements based on our
audit.
("'~, Except as discussed in the following paragraph, 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. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the general-purpose financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the general-purpose financial statements. An audit also
includes assessing the accounting principles used ahd significant estimates made by management, as well
as evaluating the overall general-purpose financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
Governmental Accounting Standards Board Technical Bulletin 98-1, Disclosures about Year 20001ssues,
requires disclosures of certain matters regarding the year 2000 issue. The City of Atlantic Beach, Florida
has included such disclosures in note 15. Because of the unprecedented nature of the year 2000 issue,
its effects and the success of related remediation efforts will not be fully determinable until the year 2000
and thereafter. Accordingly, insufficient audit evidence exists to support the City of Atlantic Beach,
Florida's disclosures with respect to the year 2000 issue made in note 15. Further, we do not provide
assurance that the City of Atlantic Beach, Florida is or will be year 2000 ready, that the City of Atlantic
Beach, Florida's year 2000 remediation efforts will be successful in whole or in part, or that parties with
which the City of Atlantic Beach, Florida does business will be year 2000 ready.
f"'~ Certified Public Accountants
t P.O. Box 23999.222 N.E.1st Street • Gainesville, Florida 32602 • (352) 378-2461 • FAX (352) 378-2505
Laurel Ridge Professional Centet • 2347 S.E.17th Street • Ocala, Florida 34471 • (352) 732-3872 • FAX (352) 732-0542
443 East College Avenue • 7aliahassee, Florida 32301 • (850) 224-7144 • FAX (850) 224-1762 •
1727 2n° Street • Sarasota, Florida 34236 • (9 41) 365-3774. FAX (941) 365-0238
• ~+E>.+eERS OFA/.1ERIGIN AND FtoR1DA INSTIMES OF ceRnFIED Pveuc AccOUNTANTs
MEMB ER OF Al.IERICAN INSTrrlrrE OF CERTIFIED PUBUC ACCOUNTANTS PRJVATE COMPANIES AND S.EC. PRACTICE SECT10N5
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Honorable Mayor, City Commission and City Manager
City of Atlantic Beach
Atlantic Beach, Florida
INDEPENDENT AUDITORS' REPORT
(Concluded)
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In our opinion, except for the effects of such adjustments, if any, as might have been determined to be
necessary had we been able to examine evidence regarding year 2000 disclosures, the general-purpose
financial statements referred to above present fairly, in all material respects, the financial position of the
City of Atlantic Beach, Florida as of September 30, 1998, and the results of its operations and the cash
flows of its proprietary fund types and pension trust funds for the year then ended in conformity with
generally accepted accounting principles.
In accordance with Government Auditing Standards, we have also issued a report dated December 11,
1998, on our consideration of the City of Atlantic Beach, Florida's compliance and on internal control
over financial reporting based on an audit of general-purpose financial statements performed in
accordance with Government Auditing Standards.
Our audit was made for the purpose of forming an opinion on the general-purpose financial statements
taken as a whole. The combining and individual fund statements and schedules listed in the table of
contents, as well as the schedule of expenditures of federal awards and state financial assistance, are
presented for purposes of additional analysis and are not a required part of the general-purpose financial
statements of the City of Atlantic Beach, Florida. Such information has been subjected to the auditing
procedures applied in the audit of the general-purpose financial statements and, in our opinion, except
for the effect of such adjustments, if any, related to the matter discussed in the third paragraph, is fairly
presented in all material respects in relation to the general-purpose financial statements taken as a whole.
December 11, 1998
Gainesville, Florida
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