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<br />The Board of Directors of
<br />the Community Redevelopment Agency of the City of Santa Ana
<br />Santa Ana, California
<br />Independent Auditor's Report
<br />A✓ ;r
<br />We have audited the accompanying financial statements of the governmental activities and each major
<br />fund of the Community Redevelopment Agency of the City of Santa Ana (Agency), a component unit of
<br />the City of Santa Ana (City), California, as of and for the year ended June 30, 2011, which collectively
<br />comprise the Agency's basic financial statements as listed in the table of contents. These financial
<br />statements are the responsibility of the Agency's management. Our responsibility is to express an
<br />opinion on these financial statements based on our audit.
<br />We conducted our audit in accordance with the auditing standards generally accepted in the United States
<br />of America and the standards applicable to financial audits contained in Government Auditing Standards,
<br />issued by the Comptroller General of the United States. Those standards require that we plan and perform
<br />the audit to obtain reasonable assurance about whether the financial statements are free of material
<br />misstatement. An audit includes consideration of internal control over financial reporting as a basis for
<br />designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
<br />an opinion on the effectiveness of the Agency's internal control over financial reporting. Accordingly, we
<br />express no such opinion. An audit also includes examining, on a test basis, evidence supporting the
<br />amounts and disclosures in the financial statements, assessing the accounting principles used and
<br />significant estimates made by management, as well as evaluating the overall financial statement
<br />presentation. We believe that our audit provides a reasonable basis for our opinion.
<br />In our opinion, the financial statements referred to above present fairly, in all material respects, the
<br />respective financial position of the governmental activities and each major fund of the Agency as of June
<br />301 2011, and the respective changes in financial position thereof for the year then ended in conformity
<br />with accounting principles generally accepted in the United States of America.
<br />As explained further in Note 12(b) to the basic financial statements, the California State Legislature has
<br />enacted legislation that is intended to provide for the dissolution of redevelopment agencies in the State of
<br />California. The effects of this legislation are uncertain pending the result of certain lawsuits that have
<br />been initiated to challenge the constitutionality of this legislation.
<br />In accordance with Government Auditing Standards, we have also issued our report dated November
<br />291 2011, on our consideration of the Agency's internal control over financial reporting and on our tests
<br />of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other
<br />matters. The purpose of that report is to describe the scope of our testing of internal control over financial
<br />reporting and compliance and the results of that testing, and not to provide an opinion on the internal
<br />control over financial reporting or on compliance. That report is an integral part of an audit performed in
<br />accordance with Government Auditing Standards and should be considered in assessing the results of our
<br />audit.
<br />Accounting principles generally accepted in the United States of America require that the management's
<br />discussion and analysis, as listed in the table of contents, be presented to supplement the basic financial
<br />statements. Such information, although not a part of the basic financial statements, is required by the
<br />Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting
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