2003 Comprehensive Annual Financial Report

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COUNTY -CnY BUDING SoUTH BEND, INDIANA 46601 -1830 PHONE 5741235 -9216 FAX 574/235 -9928 TDD 574! 235 -5567 CITY Or. SOUTH BEND STEPHEN J. LUECKE, MAYOR DEPARTMENT OF ADMINISTRATION AND FINANCE FREDERICK B. OuETT, III CONTROTI ER June 23, 2004 To the Honorable Mayor Stephen J. Luecke, Members of the City Council, and the Residents of the City of South Bend: The comprehensive annual financial report of the City of South Bend, Indiana (the "City ") for the year ended December 31, 2003, is hereby submitted. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds and account groups of the City. All disclosures necessary to enable the reader to gain an understanding of the government's financial activities have been included. The comprehensive annual financial report is presented in four sections: introductory information, financial information, statistical information and federal awards supplemental information. The introductory section includes this transmittal letter, the City's organizational chart, a list of principal City officials and the Certificate of Achievement for Excellence in Financial Reporting awarded to the City of South Bend for the year ended December 31, 2002 . The financial section begins with the independent auditors' report on the City's financial statements and schedules, the Cities management and analysis report and is followed by the City's general - purpose financial statements and accompanying footnotes. The remaining portion of this section includes the combining and individual fund and account group financial statements and schedules. The statistical section includes selected financial and demographic information generally presented on a multi -year basis, which has been provided to give the reader a broader understanding of the City. This document ends with the federal awards section, which includes the results of the supplemental audit of the City's federal awards and the internal controls necessary for compliance. The City is required to undergo an annual single audit in conformity with the provisions of the U.S. Office of Management and Budget Circular A -133, Audits of States. Local Governments and Non- Profit Organizations, the provisions of Indiana Code section 5- 11 -1 -9 and the requirements of the Indiana State Board of Accounts. Information related to the single audit, including the schedule of federal financial assistance, findings and recommendations, and the auditors' reports on the internal control structure and compliance with applicable laws and regulations, is included in this document.