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<br />. <br /> <br /> <br />. <br /> <br />. <br /> <br />Stephen K. Y...sh~ro <br />Mayor <br /> <br />Harry A. Ta~ahashi <br />Director <br /> <br />QIuunfl! of ~ltfultii <br />DEPARTMENT OF FINANCE <br />25 Aupuni Street. Room 118 . Hilo. Hawaii 98720-Q252 <br />(808) 981-823q . Fax (808) 981-82q8 <br /> <br />January 8, 1997 <br /> <br />Ms. Deanna Bauman, Manager <br />Deloitte & Touche LLP <br />345 Kekuanaoa Street, Suite 30 <br />HHo, Hawaii 96720 <br /> <br />Re: Auditor's Opinion on Chief Financial Officer's Letter <br />Financial Assurance for Municipal Solid Waste LandfIlls <br /> <br />I spoke to the person at the Environmental Protection Agency in Washington, D.C. who wrote <br />the final rule on the financial assurance mechanisms for closure, post-closure and corrective <br />action costs for municipal solid waste landfills. He assures me that the County of Hawaii does <br />qualify to use the bond rating guidelines to satisfy the local government fmancial test as <br />established in the final rule. Therefore, we do not have to use the two ratios I mentioned earlier. <br />A new draft of our chief financial officer's letter is attached. <br /> <br />What Deloitte & Touche LLP has to say in its report is that it has reviewed our records, and: <br />1. All of our outstanding rated bonds are currently rated "A"; <br />2. The audited financial statements are prepared on a GAAP basis and are audited annually <br />by external auditors; <br />3. The County of Hawaii has not operated at a deficit equal to five percent or more of <br />annual revenue in each of the past two fiscal years; and <br />4. The County of Hawaii has not received an adverse opinion, disclaimer of opinion, or <br />other qualified opinion on its June 30, 1996 financial statements. <br /> <br />Based on the above information and the information I supplied to you earlier, I would like a <br />proposal from Deloitte & Touche LLP stating what the cost will be for performing the required <br />review and preparing the necessary letter, which we need to receive before April 9, 1997. As <br />soon as I have the cost proposal, I will begin the process of amending the audit contract to <br />include this additional work. <br /> <br />Please call me if you have any questions. Thank you for your assistance. <br /> <br />~ <br /> <br />Dixie Kaetsu <br />Controller <br /> <br />Attachment <br /> <br />EXHIBIT A <br />