REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
FCS Financial, ACA
The FCS Financial, ACA (the Association) principal executives and principal financial officers, or persons performing similar functions, are responsible for
establishing and maintaining adequate internal control over financial reporting for the Association’s Consolidated Financial Statements. For purposes of
this report, “internal control over financial reporting” is defined as a process designed by, or under the supervision of the Association’s principal
executives and principal financial officers, or persons performing similar functions, and effected by its Board of Directors, management and other
personnel, to provide reasonable assurance regarding the reliability of financial reporting information and the preparation of the Consolidated Financial
Statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those
policies and procedures that: (1) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and
dispositions of the assets of the Association, (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of
financial information in accordance with accounting principles generally accepted in the United States of America, and that receipts and expenditures are
being made only in accordance with authorizations of management and directors of the Association, and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition of the Association’s assets that could have a material effect on its
Consolidated Financial Statements.
The Association’s management has completed an assessment of the effectiveness of internal control over financial reporting as of December 31, 2018.
In making the assessment, management used the 2013 framework in Internal Control — Integrated Framework, promulgated by the Committee of
Sponsoring Organizations of the Treadway Commission, commonly referred to as the “COSO” criteria.
Based on the assessment performed, the Association concluded that as of December 31, 2018, the internal control over financial reporting was effective
based upon the COSO criteria. Additionally, based on this assessment, the Association determined that there were no material weaknesses in the
internal control over financial reporting as of December 31, 2018.
David D. Janish
Chief Executive Officer
FCS Financial, ACA
Steve Harrington
Chief Financial Officer
FCS Financial, ACA
March 11, 2019
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