SUMMARY

We provided an unmodified opinion on the Property Fund’s financial statements for the fiscal years ended June 30, 2014, June 30, 2013, and June 30, 2012. As of June 30, 2014, the Property Fund insured $51.9 billion in property owned by 983 units of local government. The Property Fund’s net position as of June 30, 2014, was a deficit of $703,000. We recommend that the Office of the Commissioner of Insurance report certain information to the Joint Legislative Audit Committee by July 8, 2016.