KPMG Peat Marwick LLP Applied Physics Laboratory of Johns Hopkins University Fiscal Year Ended June 30, 1995

摘要

We are providing this report for your information and response. Your Baltimore, Maryland, office performed the single audit for the Applied Physics Laboratory of Johns Hopkins University (the Laboratory), Laurel, Maryland, a nonprofit organization. The audit is required by Office of Management and Budget (0MB) Circular A-I 33, 'Audits of Institutions of Higher Education and Other Nonprofit Institutions'. For fiscal year ended June 30, 1995, the Laboratory reported total Federal and Non-Federal expenditures of $429,293,173 and $4, 114, 730, respectively. Of the total Federal expenditures of $429,293,173, $427,230, 508 are related to the Department of Defense and $2,062,665 to other Federal Agencies. The audit was performed under the coordinated audit approach, with KPMG Peat Marwick LLY (KPMG), the principal auditor, taking full responsibility for audit work performed by the Defense Contract Audit Agency. KPMG issued its audit report September 26, 1995. The auditors questioned no costs and issued an unqualified opillion on the fmancial statements, schedule of Federal awards, and compliance with specific requirements applicable to major programs. They issued positive and negative assurance statements on compliance with general requirements. Positive assurance states that, with respect to the items tested, the results of the auditors' procedures disclosed no material instances of noncompliance. Negative assurance states that, with respect to the items not tested, nothing came to the auditors' aflention that caused them to believe that the institution has not complied in all matertal respects. The auditors also obtained an understanding of the internal controls related to the financial statements and Federal awards. The audit report describes the auditors' scope of work in obtaining that understanding and assessing control risk.