vin and kpmg. >> pamela levin chief financial office, health service. in this presentation we will do two things, first, the audit manager gee roth lee will give a presentation about the audit and then i will give a presentation about the results of the audit and where we are in terms of fund balance and receives and obligations. i want to turn this over. >> thank you, good afternoon everyone. so in front of everyone i hope you guys had a chance to look over the financial statement, the audit and financial statement as well as the powerpoint presentation. i will quickly go through the presentation and then highlight some of the important areas that we wanted to communicate to the board today. just on page 2, this is the agenda. we'll go over the scope of the audit, the responsibilities from the kpmg side and management including the risk assessment assess by kpmg and financial statement highlights we wanted to communicate to the board as well as the auditors required communications. page 3 and page 4, this is the scope of the audit. essentially kpmg per

and kpmg gives each student five brand new books... "just putting books in childrens hands is the best way students meet their goal... "we suggest to our families that everyone reads 15 to 20 minutes every night to keep practicing and to develop that love for reading" "i make sure i dont watch tv at night and just get a book and read" the student body is 99 percent hispanic... "we want them to be bilingual and at the same time we want them to be secure in english" reading at school and at home is even more important to eliminate the language barrier. in milwaukee deandra corinthios fox6 news the company's "family for literacy program". if you would like to learn more about it -- we have a link at fox six now dot com. he says he's from a whole pack of badgers. now the former wisconsin star is returning to the state on sunday and hoping for a wisconsin winterland to greet him. hear from russell wilson when brandon a burgeoning rivalry renews itself at lambeau field sunday when the seahawks come to town. while they've beaten the packers i

and kpmg gives each student five brand new books... "just putting books in childrens hands is the best way to get them excited about reading" a gift educators say will help students meet their goal... "we suggest to our families that everyone reads 15 to 20 minutes every night to keep "i make sure i dont watch tv at night and just get a book and read" the student body is 99 percent hispanic... "we want them to be bilingual and at the same time we want them to be secure in english" reading at school and at home is even more important to eliminate the language barrier. in milwaukee deandra corinthios fox6 news the k-p-m-g donation is part of the company's "family for literacy program". if you would like to learn more about it -- we have a link at fox six now dot com. -- candy cane lane is still going strong tonight. this is the 31st year that the west allis neighborhood has lit up to raise money for the macc fund... fighting childhood cancer. the event is free... and runs through monday, december 26th. visitors can make a macc donation f

volunteers from kpmg -the audit tax and advisory services firm read to the students. then hand out bags of books! childrens classics...like green eggs and ham...and where the wild things are: "i love wild things like wild lions or monsters or wild cats" jimena garcia cant wait to add to her library "i have like 50 books!" saint anthonys has 123 first brand new books... "just putting books in childrens hands is the best way to get them excited about reading" a gift educators say will help students meet their goal... "we suggest to our families that everyone reads 15 to 20 minutes every night to keep practicing and to develop that love for reading" "i make sure i dont watch tv at night and just get a book and read" the student body is 99 percent hispanic... "we want them to be bilingual and at the same time we want them to be secure in english" is even more important to eliminate the language barrier. in milwaukee deandra corinthios fox6 news the k-p-m-g donation is part of the company's "family for literacy program". if you would like to learn more about it -- we have

at kpmg, we have ways to go about it. >> it was a topsy-turvy week in european politics far right wing victory that many anticipated in austria did not materialize but the centrist prime minister matio renzi lost his job after a failure of a referendum he staked his career on. in 2017 is, both france and germany go to the polls to elect their leaders. in both nations, pop uism is on the upswing. partially emboldened perhaps by the one-two punch of brexit and trump. he had the opportunity this week to sit down with emmanuel macron, is he a candidate for the presidency in france's upcoming elections. the economist recently called france europe's biggest populist danger. listen in. >> emmanuel macron, pleasure to have you on. we are looking at what is happening in europe. you are living it. what do you think is going on when you look at the italian vote, you know, in austria it went the other way. in france, you've him do very well. is this a wave of right wing populism that is continuing? >> no, first of all, ied not compare the different countries and the different trends you mentioned.

these financial statement reports were issued by kpmg on october 14, 2016. this slide shows that october 14 is the earliest issue date of the annual financial statements over the last five years for all the three financial audit reports. the main objective of the financial audit is to obtain reasonable assurance about whether the financial statements are free of material misstatement. the review also includes consideration of internal controls were financial reporting but not for the purpose of expressing an opinion on the effectiveness of internal controls. for all three financial statements no material the statements were noted by the auditors. nor were there any internal control deficiencies observed for any of the three enterprises. sf pc continues to demonstrate strength in making financial integrity and internal controls through effective fiscal oversight with clean august consecutively for eight years. i will be happy to answer any questions at this time. >> thank you very much. that's quite a remarkable record. commissioners? okay. >> at this time i

larry is the principal at kpmg of their center for health care regulatory insight. larry has again particular substantive relevance and expertise in this area, not only having served as former senior advisor to the administrator of the center for medicare and medicaid services at hhs, but larry also was instrumental in working with the american medical association in the development f their macra implementation piece which he may comment a little on that, as well. before kpmg, he had a dark side to his career having practiced law in d.c., and then he was also visiting fellow at economic studies program at brooking institutions and his accolades go on and on and on. but welcome to both of them and hopefully our insights today will be helpful to those of you who want to know about macra, what does it mean and how do we get the ball rolling. >> okay. thank you. what i'm going to do here is go through these slides. these will give us an overview of what macra is, the quality payment program, both on the mip side. then we'll have more interesting questions and conversati

these financial statement reports were issued by kpmg on october 14, 2016. this slide shows that october 14 is the earliest issue date of the annual financial statements over the last five years for all the three financial audit reports. the main objective of the financial audit is to obtain reasonable assurance about whether the financial statements are free of material misstatement. the review also includes consideration of internal controls were financial reporting but not for the purpose of expressing an opinion on the effectiveness of internal controls. for all three financial statements no material the statements were noted by the auditors. nor were there any internal control deficiencies observed for any of the three enterprises. sf pc continues to demonstrate strength in making financial integrity and internal controls through effective fiscal oversight with clean august consecutively for eight years. i will be happy to answer any questions at this time. >> thank you very much. that's quite a remarkable record. commissioners? okay. >> at this time i

let me introduce the kpmg partners who done a great job working with us to get through the audit. lisa [inaudible] managing director. i'll turn it over to lisa. >> good afternoon. >> thank you. if we have technical difficulties here i have a copy here. we'll use the overhead projection here. so, thank you for having me here this afternoon. as part of our audit, we are required under our auditing standard to discuss our present certain items to those key members of management one being the ovsite committee here today. we can do this in letter or in person so appreciate the opportunity to be here. now, if you look at the first slide here , this is disclosing what our responsibilities are under auditing standards and what we must comply with. we must consider internal control at the organization to design an effective and efficient audit approach. we must also design and implement audit procedures base odthen understanding of the organization to gain reasonable but not absolute assurance that it there are no material misstatements in the financial statementsment we must also perform

let me introduce the kpmg partners who done a great job working with us to get through the audit. lisa [inaudible] managing director. i'll turn it over to lisa. >> good afternoon. >> thank you. if we have technical difficulties here i have a copy here. we'll use the overhead projection here. so, thank you for having me here this afternoon. as part of our audit, we are required under our auditing standard to discuss our present certain items to those key members of management one being the ovsite committee here today. we can do this in letter or in person so appreciate the opportunity to be here. now, if you look at the first slide here , this is disclosing what our responsibilities are under auditing standards and what we must comply with. we must consider internal control at the organization to design an effective and efficient audit approach. we must also design and implement audit procedures base odthen understanding of the organization to gain reasonable but not absolute assurance that it there are no material misstatements in the financial statementsment we must also perform

larry is the principal at kpmg of their center for health care regulatory insight. larry has again particular substantive relevance and expertise in this area, not only having served as former senior advisor to the administrator of the center for medicare and medicaid services at hhs, but larry also was instrumental in working with the american medical association in the development of their macra implementation piece which he may comment a little on that, as well. before kpmg, he had a dark side to his career having practiced law in d.c., and then he was also visiting fellow at economic studies program at brooking institutions and his accolades go on and on and on. but welcome to both of them and hopefully our insights today will be helpful to those of you who want to know about macra, what does it mean and how do we get the ball rolling. >> okay. thank you. what i'm going to do here is go through these slides. these will give us an overview of what macra is, the quality payment program, both on the mip side. then we'll have more interesting questions and conversat