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PATRICIA ANDERSON <br />STATE AUDITOR <br />a.. <br />STATE OF MINNESOTA <br />OFFICE OF THE STATE AUDITOR <br />SUITE 500 <br />525 PARK STREET <br />SAINT PAUL, MN 55103 -2139 <br />To: City Officials <br />From: Patricia Anderson, State Auditor <br />Date: December 20, 2005 <br />Re: 2004 Minnesota City Finances <br />(651) 296 -2551 (Voice) <br />(651) 296 -4755 (Fax) <br />state.auditor @state.mn.us (E-Mail) <br />1-800-627-3529 (Relay Service) <br />Enclosed is a copy of our recent report, Minnesota City Finances: 2004 Revenues, Expenditures & <br />Debt. This report is designed to give citizens and policy makers a better understanding of city finances <br />as well as give city officials a way to compare their finances to those of other cities. <br />NEW: Expanded Analysis / More Tables Online <br />We have expanded the narrative analysis section of the report as well as posted additional financial <br />tables on our website. The website only tables include enterprise funds and regional breakdowns. The <br />additional tables are available at www.auditor.state mn us. <br />Fund Balance Analysis <br />Continuing.the analysis that began with the 2001 report, we have provided a table sorted by the size of <br />the unreserved fund balance as a percent of total current expenditures. Rankings have been provided to <br />assist the public in assessing their cities' fund balance in context of the State Auditor's standard and how <br />they compare to other cities. The State Auditor's office has set a standard of 35 to 50 percent of total <br />current expenditures as an acceptable level of unreserved fund balances needed for cash flow purposes. <br />The report, data, and online city search tool are available at www.auditor.state.mn.us. <br />If you have questions about the report, please do not hesitate to contact Deputy State Auditor Tony <br />Sutton at tom. suttoMthstate. mn. us or (651) 282 -6112. <br />State Legislators <br />Governor Tim Pawlenty <br />Lt. Governor Carol Molnau <br />Commissioner Dan Salomone <br />Commissioner Peggy Ingison <br />IOIOIIp!II <br />iY <br />5m'<+' <br />JIM J 3 lt15 <br />EXHIBIT A <br />fr L fit cc <br />UUflj i /ppurninip Snplo}'Cr <br />