09-09-1992 Council Agenda - Laserfiche WebLink

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J TAUTGES, REDPATH & CO., LTD. CERTIFIED PUBLIC ACCOUNTANTS 1NDEPENDENT AUDITOR'S REPORT To the Board of Directors Little Canada Firemen's Relief Association Little Canada, Minnesota 55117 We have audited the Statement of Financial Condition as of December 31, 1991 and the Statement of Revenues, Expenditures/Expenses and Changes in Fund Balance for the year then ended of the Special and General Funds of the Little Canada Firemen's Relief Association contained in the December 31, 1991 Office of the State Auditor Firefighter Relief Association Reporting Form. These financial statements are the responsibility of the Relief Association's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. The schedules presented do not contain adequate footnote disclosures as required by generally accepted accounting principles. If the omitted disclosures were included with the financial schedules presented on the aforementioned form, they might influence the user's conclusions about the Association's financial condition and results of operations. Accordingly, these financial schedules are not designed for those who are not informed about such matters. The Association has published financial statements which include the required footnote disclosures. In our opinion, the aforementioned financial statements present fairly the financial condition of the Little Canada Firemen's Relief Association as of December 31, 1991, and the results of operations for the year then ended in conformity with generally accepted accounting principles except for the effects of the excluded footnote disclosures. The "Normal Cost" and "Required Contribution" amounts presented in lines 10 and 11 of the "Financial Condition" section were calculated by the Relief Association prior to December 31, 1991 based on estimated amounts available. We do not express an opinion on this information. Other information included on the form was not audited by us and therefore we do not express an opinion on such other information. February 27, 1992 TAUTGES, REDPATH & CO., LTD. Certified Public Accountants Page 64 4010'.Vh51e BF Parkway • 10/15h Bear Lake My 55:2105a 55110 • 612 426:7000 • FAX