NOTICES

PENNSYLVANIA CONVENTION CENTER AUTHORITY

Independent Auditors' Report

[41 Pa.B. 6358]
[Saturday, November 26, 2011]

Board of Directors
Pennsylvania Convention Center Authority

 We have audited the accompanying statements of net assets of the Pennsylvania Convention Center Authority (the Authority) as of June 30, 2011 and 2010, and the related statements of revenue, expenses, and changes in fund net assets and cash flows for the year then ended. These financial statements are the responsibility of the Authority's management. Our responsibility is to express an opinion on these financial statements based on our audits.

 We conducted our audits in accordance with auditing standards generally accepted in 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 includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Authority's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

 In our opinion, the financial statements referred to above present fairly in all material respects the financial position of the Authority as of June 30, 2011 and 2010, and the changes in its net assets and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States.

 The required supplementary information, Management's Discussion and Analysis is not a required part of the basic financial statements, but is supplementary information required by the Governmental Accounting Standards Board. This supplementary information is the responsibility of the Authority's management. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the supplementary information. However, we did not audit such information, and we do not express an opinion on it.

 Our audit was performed for the purpose of forming an opinion on the basic financial statements of the Authority taken as a whole. The Combining Schedule of Net Assets, Combining Schedule of Revenues, Expenses, and Changes in Fund Net Assets, Schedule of General Fund Operating Expenses, and Schedule for Rollforward of Property, Plant and Equipment and Schedule of Funding Progress for Retirees Benefit Plan (OPEB) are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information, except for the portion marked ''unaudited,'' on which we express no opinion, has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.

Mitchell & Titus, LLP
October 25, 2011

GREGORY J. FOX, 
Chairperson

 

 

 

 

 

 

[Pa.B. Doc. No. 11-2041. Filed for public inspection November 23, 2011, 9:00 a.m.]

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