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Comprehensive Annual Financial Report 12/31/2014
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Comprehensive Annual Financial Report 12/31/2014
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Comprehensive Annual Financial Report
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12/31/2014
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4 ` CliftanLarsonAllen LLP <br />CLAconnect.com <br />CliftonLarsvnAllen <br />INDEPENDENT AUDITORS' REPORT <br />Honorable Mayor and <br />Members of the City Council <br />City of Lino Lakes, Minnesota <br />Report on the Financial Statements <br />We have audited the accompanying financial statements of the governmental activities, the business <br />type activities, each major fund, and the aggregate remaining fund information of the City of Lino <br />Lakes, as of and for the year ended December 31, 2014, and the related notes to the financial <br />statements, which collectively comprise the City's basic financial statements as listed in the table of <br />contents. <br />Management's Responsibility for the Financial Statements <br />Management is responsible for the preparation and fair presentation of these financial statements in <br />accordance with accounting principles generally accepted in the United States of America; this includes <br />the design, implementation, and maintenance of internal control relevant to the preparation and fair <br />presentation of financial statements that are free from material misstatement, whether due to fraud or <br />error. <br />Auditors' Responsibility <br />Our responsibility is to express opinions on these financial statements based on our audit. We <br />conducted our audit in accordance with auditing standards generally accepted in the United States of <br />America and the standards applicable to financial audits contained in Government Auditing Standards, <br />issued by the Comptroller General of the United States. Those standards require that we plan and <br />perform the audit to obtain reasonable assurance about whether the financial statements are free from <br />material misstatement. <br />An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in <br />the financial statements. The procedures selected depend on the auditors' judgment, including the <br />assessment of the risks of material misstatement of the financial statements, whether due to fraud or <br />error. In making those risk assessments, the auditor considers internal control relevant to the entity's <br />preparation and fair presentation of the financial statements in order to design audit procedures that are <br />appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness <br />of the entity's internal control. Accordingly, we express no such opinion. An audit also includes <br />evaluating the appropriateness of accounting policies used and the reasonableness of significant <br />accounting estimates made by management, as well as evaluating the overall presentation of the <br />financial statements. <br />We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for <br />our audit opinions. <br />® An independent --r M Nexia International <br />INTERNATIONAL <br />
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