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CITY OF LINO LAKES, MINNESOTA <br />SUMMARY SCHEDULE OF PRIOR YEAR AUDIT FINDINGS <br />For the Year Ended December 31, 2022 <br />FOLLOW-UP ON PRIOR YEAR FINDINGS <br />FINANCIAL STATEMENT FINDINGS <br />2021-1 Financial Statement Corrections <br />Condition: Audit procedures detected a material misstatement related to police holiday pay <br />in the amount of $117,527. The holiday pay represents amounts earned in 2021. The <br />payment was appropriately made during January 2022, however, the expense was not <br />accrued back to 2021 prior to correction. <br />Recommendation: We recommend staff review its year-end procedures in an attempt to <br />identify and correct any misstatements. <br />Status: Resolved. <br />FEDERAL AWARD FINDINGS <br />None. A single audit was not required to be performed for the prior year. <br />10