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Management responsibilities <br /> Our audit will be conducted on the basis that you(management and,when appropriate,those charged with <br /> governance)acknowledge and understand that you have certain responsibilities that are fundamental to the <br /> conduct of an audit. <br /> You are responsible for the preparation and fair presentation of the financial statements,RSI,and the <br /> schedule of expenditures of federal awards in accordance with U.S.GAAP.Management is also responsible <br /> for identifying all federal awards received,understanding and complying with the compliance <br /> requirements,and for the preparation of the schedule of expenditures of federal awards(including notes <br /> and noncash assistance received)in accordance with the requirements of the Uniform Guidance. <br /> Management's responsibilities include the selection and application of accounting principles;recording and <br /> reflecting all transactions in the financial statements;determining the reasonableness of significant <br /> accounting estimates included in the financial statements;adjusting the financial statements to correct <br /> material misstatements;and confirming to us in the management representation letter that the effects of <br /> any uncorrected misstatements aggregated by us during the current engagement and pertaining to the <br /> latest period presented are immaterial,both individually and in the aggregate,to the financial statements <br /> taken as a whole.In preparing the financial statements,management is required to evaluate whether there <br /> are conditions or events,considered in the aggregate,that raise substantial doubt about the entity's ability <br /> to continue as a going concern for 12 months beyond the financial statement date. <br /> Management is responsible for compliance with applicable laws and regulations and the provisions of <br /> contracts and grant agreements,including compliance with federal statutes,regulations,and the terms and <br /> conditions of federal awards applicable to the entity's federal programs.Your responsibilities also include <br /> identifying significant contractor relationships in which the contractor has responsibility for program <br /> compliance and for the accuracy and completeness of that information. <br /> You are responsible for the design,implementation,and maintenance of effective internal control, <br /> including internal control over compliance,relevant to the preparation and fair presentation of financial <br /> statements that are free from material misstatement,whether due to fraud or error,including evaluating <br /> and monitoring ongoing activities and safeguarding assets to help ensure that appropriate goals and <br /> objectives are met;and that there is reasonable assurance that government programs are administered in <br /> compliance with compliance requirements. <br /> You are responsible for the design,implementation,and maintenance of internal controls to prevent and <br /> detect fraud;assessing the risk that the financial statements may be materially misstated as a result of <br /> fraud;and for informing us about all known or suspected fraud affecting the entity involving(1) <br /> management,(2)employees who have significant roles in internal control,and(3)others where the fraud <br /> could have a material effect on the financial statements.Your responsibilities include informing us of your <br /> knowledge of any allegations of fraud or suspected fraud affecting the entity received in communications <br /> from employees,former employees,grantors,regulators,or others.In addition,you are responsible for <br /> implementing systems designed to achieve compliance with applicable laws and regulations and the <br /> provisions of contracts and grant agreements,including compliance with federal statutes,regulations,and <br /> the terms and conditions of federal awards applicable to the entity's federal programs;identifying and <br /> Page 6 of 12 <br />