To ensure transparency to the taxpayers, members and community, SVRIA is audited annually by an outside independent auditor specializing in Special Districts and Local Government in California. The accompanying financial statements of the governmental activities and the major funds of the Silicon Valley Regional Interoperability Authority are audited for each fiscal year ending June 30.
SVRIA Staff are responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America. This includes the design, implementation, and maintenance of internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
The Auditor is responsible for expressing opinions on these financial statements based on the audit. The auditor conducts the audit in accordance with generally accepted standards in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards. These standards require that the auditor plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
In the independent auditor’s opinion, the financial statements present fairly, in all material respects, the respective financial position of the governmental activities and the major fund of the Silicon Valley Regional Interoperability Authority, and the respective changes in financial position for each fiscal year in accordance with accounting principles generally accepted in the United States of America.