11-12-1997 Council Agenda - Laserfiche WebLink

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November 3, 1997 City of Little Canada 515 Little Canada Road Little Canada, MN 55117 T.4UTGES, REDPATH & CO., LTD. CERrrfEC °uBDC ACCOUNTANTS We are pleased to confirm our understanding of the services we are to provide the City of Little Canada, Minnesota for the year ending December 31, 1997. The scope of services includes the following: • We will audit the general purpose financial statements of the City of Little Canada, Minnesota as of and for the year ending December 31, 1997. We will provide an "in- relation-to" opinion on the combining, individual fund and account group financial statements. The statistical section will not be subjected to the auditing procedures applied in our audit of the general purpose financial statements. • Preparation of Annual Financial Report. • Preparation of separate Management Report. Our audit will be conducted in accordance with generally accepted auditing standards, the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General, and the minimum procedures for auditors as prescribed by MS 6.65, and will include tests of the accounting records of the City of Little Canada, Minnesota and other procedures we consider necessary to enable us to express an unqualified opinion that the general purpose financial statements are fairly presented, in all material respects, in conformity with generally accepted accounting principles. If our opinion is other than unqualified, we will fully discuss the reasons with you in advance. If, for any reason, we are unable to complete the audit, we will not issue a report as a result of this engagement. The management of the City of Little Canada, Minnesota is responsible for establishing and maintaining internal control. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of the controls. The objectives of internal control are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorizations and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles. n While Bear 3:... Page 37 FAX 2,95-50041 Miemoer of HLu ":emotional