Report 4-12 - Independent Accountants’ Report on the Performance Audit of Farmington Casualty Company
Date Issued: Wednesday, February 11, 2004
Report Number: 4-12

Performed by:

Cotton & Company LLP
Certified Public Accountants
333 North Fairfax Street, Suite 401
Alexandria, Virginia 22314

U.S. SMALL BUSINESS ADMINISTRATION
OFFICE OF INSPECTOR GENERAL
WASHINGTON, D.C. 20416
AUDIT REPORT

Audit Report Number: 4-12

Issue Date: February 11. 2004

This report may contain proprietary information subject to the provisions of 18 USC 1905 and must not  be released to the public or another agency without permission of the Office of Inspector General.

To: Johine Albertson, Associate Administrator for Surety Guarantees

From: Robert G. Seabrooks, Assistant Inspector General for Auditing

/signed/

Subject: Audit of Farmington Casualty Company

Attached is the Audit Report Farmington Casualty Company. The audit found that Farmington complied with SBA regulations for underwriting and servicing bonds and for processing claim payments. The audit also found that Farmington correctly calculated and remitted all sample bond fees to SBA in a timely manner.

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