JOHN WOMACK & CO., P.C.
CERTIFIED PUBLIC ACCOUNTANTS
JOHN L. WOMACK, CPA
JOHN R. WOMACK, CPA
MARGARET KELLY, CPA
P.O. BOX 1147
KINGSVILLE, TEXAS 78364
(361) 592-2671
FAX (361) 592-1411
INDEPENDENT AUDITOR'S REPORT ON FINANCIAL STATEMENTS
Board of Trustees
The Utility Board of Falfurrias, Texas
P.O. Box 518
Falfurrias, Texas 78355
Members of the Board of Trustees:
We have audited the accompanying financial statements of the business type activities of The Utility Board of Falfurrias, Texas, Component Unit of the City of Falfurrias, Texas, as of and for the years ended December 31, 2013 and 2012, and the related notes to the financial statements, which collectively comprise the Board's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this Includes the design, Implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are tree from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America 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 financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgement. Including the assessment of the risk of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing and opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also Includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis tor our
audit opinions.