Agenda Package - City of Vernon
Agenda Package - City of Vernon
Agenda Package - City of Vernon
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THE CORPORATION OF THE CITY OF VERNON<br />
2008 Annual Report<br />
Statement <strong>of</strong> Management Responsib¡l¡ty<br />
The financial statements <strong>of</strong> the Corporation <strong>of</strong> the Ci$ <strong>of</strong> <strong>Vernon</strong> for the year ended December<br />
91, 2OOB have been prepared by management in accordance with Canadian generally accepted<br />
ãcðounting principles cohsistentìy apfliéd and appropriate in the circumstances. The financial<br />
statement-s 'have,'in management's opinion, been properly prepared within reasonable limits <strong>of</strong><br />
mãieriality ano wittr¡n the -framework <strong>of</strong> the significant acc_ounting policie_s summarized in the<br />
notes to the financial statements. The firm <strong>of</strong> BDO Dunwoody LLP has performed an<br />
inãèpen6ent audit <strong>of</strong> the financial stiatements in accordance with generally accepJed auditing<br />
sþnbards. The auditor's report outlines the scope <strong>of</strong> this independent audit and their opinion on<br />
the financialstatements <strong>of</strong> the <strong>City</strong> <strong>of</strong> Vemon.<br />
Management depends upon a system <strong>of</strong> intemal accounting controls that provide reasonable<br />
assurãnce, on a cost-effective basis, that the financial information is reliable and accurate.<br />
The Finance Committee <strong>of</strong> Council has been given the added responsibility <strong>of</strong> acting as the Audit<br />
Committee <strong>of</strong> Council and meeb with the extemal auditors as required. The Audited Financial<br />
Statements have been approved by both the Audit Committee and Council.<br />
The Finance Committee and the full Council meet with management to set the financial plan for<br />
the <strong>City</strong> and to review the financial results <strong>of</strong> operation.<br />
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