Audit Report 12/31/1980 - Laserfiche WebLink

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1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ANFINSON, HENDRICKSON & CO. CERTIFIED. PUBLIC ACCOUNTANTS The City Council and Residents City of Lino Lakes Lino Lakes, Minnesota We have examined the General Purpose Financial Statements shown on pages 5 through 17, of the City of Lino Lakes, Minnesota, as of and for the year ended December 31, 1980. 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 original costs of all equipment, it was imprac- ticable to audit the accompanying financial statement 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 General Purpose Financial Statements referred to above present fairly the financial position of the City of Lino Lakes, Minnesota, at December 31, 1980, and the results of its operations, changes in fund balances, and changes in financial position of the Proprietary Fund type for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination was made for the purpose of forming an opinion on the General Purpose Financial Statements taken as a whole. The accompanying additional information shown on pages 18 through 37 including selected information from the year ended December 31, 1979, is presented for purposes of additional analysis and is not a required part of the General Purpose Financial Statements. Such information has been subjected to the auditing procedures applied in our examinations of the General Purpose Financial Statements for the years ended December 31, 1980 and 1979 and, in our opinion, is fairly stated in all material respects in relation to the General Purpose Financial Statements taken as a whole. Minneapolis, Minnesota January23, 1981 - 4 - d 2it.t- .4,te -,, 9 ec ".. Certified Public Accountants IPark National Bank Building • 5353 Wayzata Boulevard, Suite 410 • Minneapolis, Minnesota 55416 • 612- 545 -0421 AFFILIATED WITH NATIONAL CPA GROUP • MEMBER FIRMS IN PRINCIPAL CITIES •