VLAWMO Annual Financial Report 2006

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I� L HLB Tautges Redpath, Ltd. Certified Public Accountants and Consultants REPORT ON COMPLIANCE WITH MINNESOTA LEGAL COMPLIANCE AUDIT GUIDE FOR LOCAL GOVERNMENT To the Board of Commissioners Vadnais Lake Area Water Management Organization Vadnais Heights, Minnesota We have audited the general purpose financial statements of the Vadnais Lake Area Water Management Organization, as of and for the year ended December 31, 2006 and have issued our report thereon dated March 21, 2007. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the provisions of the Minnesota Legal Compliance Audit Guide for Local Government promulgated by the State Auditor pursuant to Minnesota Statutes Section 6.65. Accordingly, the audit included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The Minnesota Legal Compliance Audit Guide for Local Government covers seven main categories of compliance to be tested: contracting and bidding, deposits and investments, conflicts of interest, public indebtedness, claims and disbursements, miscellaneous provisions and tax increment financing. Our study included all of the listed categories except miscellaneous provisions and tax increment financing because these are not applicable to the Vadnais Lake Area Water Management Organization. The results of our tests indicate that for the items tested, the Vadnais Lake Area Water Management Organization complied with the material terms and conditions of applicable legal provisions. This report is intended solely for the information and use of the Vadnais Lake Area Water Management Organization and management and is not intended to be and should not be used by anyone other than these specified parties. 14,5' 7i044 Seer414 tg: HLB TAUTGES REDPATH, LTD_. White Bear Lake, Minnesota March 21, 2007 4810 White Bear Parkway White Bear Lake, Minnesota 55110 I 651 426 7000 651 426 5004 Fax I www.hlbtr.com HLB Tautges Redpath, Ltd. is a member of IILB International, a world-wide organization of accounting41 firms and business advisors.