Audit Report

INDEPENDENT AUDITOR’S REPORTSchedule of Deposits and InvestmentsSanta Barbara County Treasury PoolTo the Honorable Board of Supervisors andthe County of Santa Barbara, California:We have audited the accompanying Schedule of Deposits and Investments relative to the amount andtype of assets controlled by the County Treasurer in the Santa Barbara County Treasury Pool as ofMarch 31, 2001. This schedule is the responsibility of County management. Our responsibility is toexpress an opinion on the schedule based on our audit.We have also audited the Treasurer's compliance with the California Government Code and theTreasurer's Investment Policy. We have issued a separate report on this area dated May 7, 2001.We conducted our audit in accordance with generally accepted auditing standards and GovernmentalAuditing Standards issued by the Comptroller General of the United States. Those standards require thatwe plan and perform the audit to obtain reasonable assurance that the Schedule of Deposits andInvestments relative to the amount and type of assets controlled by the County Treasurer in the SantaBarbara County Treasury Pool are free of material misstatement. An audit includes examining, on a testbasis, evidence supporting the amounts and disclosures in the Schedule of Deposits and Investments.An audit also includes assessing the accounting principles used and significant estimates made bymanagement, as well as evaluating the overall schedule presentation. ...