Annual Financial Report 12/31/1984

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_ VOTO, REARDON, TAUTGES & CO., LTD. CERTIFIED PUBLIC ACCOUNTANTS Birch Lake Professional Building • 1310 E. Hwy. 96 • White Bear Lake, MN 55110 • Phone 426 -3263 ROBERT I. VOTO, CPA TIMOTHY E. REARDON, CPA ROBERT G. TAUTGES, CPA To the Honorable Mayor and Members of the City Council City of Lino Lakes Lino Lakes, Minnesota We have examined the general purpose financial statements of the CITY OF LINO LAKES, MINNESOTA, and the combining, individual fund, and account group finan- cial statements of the City as of and for the year ended December 31, 1984, as listed in the table of contents. 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, except as stated in the following paragraph. The City does not maintain complete accounting controls over quantities and costs of general fixed assets and it was therefore impractical to audit the accompanying Statement of General Fixed Assets and, accordingly, we do not express an opinion on this account group. In our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had we been able to obtain sufficient evi- dential matter regarding the City's General Fixed Asset account group, the general purpose financial statements referred to above present fairly the finan- cial position of the CITY OF LINO LAKES, MINNESOTA at December 31, 1984, and the results of its operations and changes in financial position of its 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. Also, in our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had we been able to obtain suf- ficient evidential matter regarding the City's General Fixed Asset account group, the combining, individual fund, and account group financial statements referred to above present fairly the financial position of the individual funds and account groups of the CITY OF LINO LAKES, MINNESOTA at December 31, 1984 and the results of operations of such funds, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS • PRIVATE COMPANIES PRACTICE SECTION MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS MUNICIPAL FINANCE OFFICERS ASSOCIATION • MINNESOTA ASSOCIATION OF SCHOOL BUSINESS OFFICIALS