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Honorable Mayor and

Members of the Borough Council

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Qualified Opinion on Regulatory Basis of Accounting

In our opinion, except for the effects of the matter described in "Basis for Qualified Opinion on

Regulatory Basis Accounting Principles" paragraph, the financial statements referred to above present

fairly, in all material respects, the regulatory basis balances sheets as of December 31, 2015 and 2014,

the regulatory basis statements of operations for the years then ended and the regulatory basis statements

of revenues and expenditures for the year ended December 31, 2015 in accordance with the basis of

financial reporting prescribed by the Division of Local Government Services, Department of

Community Affairs, State of New Jersey as described in Note 1.

Other Matters

Other Information

Our audit was conducted for the purpose of forming opinions on the financial statements that

collectively comprise the Borough of Milford's basic financial statements. The supplementary

information listed in the table of contents and the letter of comments and recommendations section are

presented for purposes of additional analysis and are not a required part of the basic financial statements.

The supplemental infotaiation listed in the table of contents are the responsibility of management and

were derived from and relates directly to the underlying accounting and other records used to prepare

the basic financial statements. Such information has been subjected to the auditing procedures applied

in the audit of the basic financial statements and certain additional procedures, including comparing and

reconciling such information directly to the underlying accounting and other records used to prepare the

basic financial statements or to the basic financial statements themselves, and other additional

procedures in accordance with auditing standards generally accepted in the United States of America.

In our opinion, the supplemental information listed in the table of contents, are fairly stated, in all

material respects, in relation to the basic financial statements as a whole.

The letter of comments and recommendations section has not been subject to the auditing procedures

applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or

provide any assurance on it.

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