Audit Report 12/31/1979 - Laserfiche WebLink

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ANFINSON, HENDRICKSON & CO. CERTIFIED PUBLIC ACCOUNTANTS The City Council and Residents City of Lino Lakes Lino Lakes, Minnesota We have examined the financial statements of the various fund types and the general long -term debt group of accounts of the City of Lino Lakes, Minnesota for the year ended December 31, 1979, shown on pages 5 through 9. Except as disclosed in the following paragraph, our examination was made in accordance with generally accepted 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 costs of all equipment, it was imprac- ticable to audit the accompanying balance sheet 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 balance sheet of the General Fixed Assets Group of Accounts referred to above, the aforementioned financial statements present fairly the financial position of the various fund types and General Long -Term Debt Group of Accounts of the City of Lino Lakes, Minnesota as of December 31, 1979, 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 accom- panying combined financial statements captioned "Total Memorandum Only" are pre- sented for supplementary analysis purposes and are not considered necessary for a fair presentation of the basic financial statements. The supplementary finan- cial information for 1979 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 the General Fixed Assets Group of Accounts as noted above, is fairly stated in all material respects in relation to the basic finan- cial statements taken as a whole. We have previously made an examination of the basic financial statements of the City of Lino Lakes for the year 1978 and, in our opinion, except for the General Fixes Assets Group of Accounts, the 1978 supplementary information presented is fairly stated in all material respects in relation to the 1978 basic financial statements taken as a whole. Minneapolis, Minnesota January 29, 1980 4 - Certified Public Accountants Park National Bank Building • 5353 Wayzata Boulevard, Suite 410 • Minneapolis, Minnesota 55416 • 612 - 545 -0421 AFFILIATED WITH NATIONAL CPA GROUP • MEMBER FIRMS IN PRINCIPAL CITIES