Audit Report 12/31/1978 - Laserfiche WebLink

Home Search

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ORIS A. HENDRICKSON. C.P.A. DONALD D. ANFINSON, C.P.A. NEIL L HENDRICKSON, C.P.A. MARVIN R. LOFF, C.P.A. DARVL 0. D.KAM, C.P.A. KEVIN S. BAUER, C.P.A. ANFINSON, HENDRICKSON & CO. CERTIFIED PUBLIC ACCOUNTANTS AFFILIATED WITH NATIONAL CPA GROUP MEMBER FIRMS IN PRINCIPAL CITIES To The City Council and Residents City of Lino Lakes Lino Lakes, Minnesota 10501 WAYZATA BOULEVARD MINNETONKA. MINNESOTA 55343 TELEPHONE (612) 646 -0421 We have examined the financial statements of the various funds and general long- term debt group of accounts of the City of Lino Lakes, Minnesota, for the year ended December 31, 1978 shown on pages 5 through 22. Except as disclosed in the following paragraph, our examination was made in accordance with generally accept- ed auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. Because the City does not maintain fixed asset records which provide complete accounting control over quantities and original costs of all equipment it was im- practicable to audit the accompanying financial statements of the General Fixed Assets group of accounts and we express no opinion thereon, except with respect to the basis of valuation of certain assets included therein which is at variance with generally accepted accounting principles as more fully explained in Note 1. In our opinion, except for the financial statements of the General Fixed Assets group of accounts referred to above, the aforementioned financial statements pre- sent fairly the financial position of the various funds and general long -term debt group of accounts of the City of Lino Lakes, Minnesota, at December 31, 1978, and the results of .their operations and changes in fund balances for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. The accompanying additional financial information and the columns on the accompany- ing combined financial statements captioned "Total Memorandum Only11 are presented for supplementary analysis purposes and are not considered necessary for a fair presentation of the basic financial statements. The supplementary financial in- formation has been subjected to the applicable audit procedures we performed in our examination of the related basic financial statements and, in our opinion, except for General Fixed Assets as noted above, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. Minnetonka, Minnesota January 18, 1979 Certified Public Accountants