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Annual Financial Report 12/31/1985
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Annual Financial Report 12/31/1985
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Annual Financial Report
Date
12/31/1985
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VOTO, REARDON, TAUTGES & CO., LTD. <br />CERTIFIED PUBLIC ACCOUNTANTS <br />Birch Lake Professional Building • 1310 E. Hwy. 96 • White Bear Lake, MN 55110 • Phone 426 -3263 <br />To the Honorable Mayor and <br />Members of the City Council <br />City of Lino Lakes <br />Lino Lakes, Minnesota <br />ROBERT J. VOTO, CPA <br />TIMOTHY E. REARDON, CPA <br />ROBERT G. TAUTGES, CPA <br />We have examined the general purpose financial statements of the CITY OF LINO <br />LAKES, MINNESOTA, and the combining, individual fund, and account group financial <br />statements of the City as of and for the year ended December 31, 1985, as listed <br />in the table of contents. Our examination was made in accordance with generally <br />accepted auditing standards and, accordingly, included such tests of the <br />accounting records and such other auditing procedures as we considered necessary <br />in the circumstances, except as stated in the following paragraph. <br />The City does not maintain complete accounting controls over quantities and <br />costs of general fixed assets. Therefore, we were not able to obtain sufficient <br />evidential matter to form an opinion regarding the amounts at which property, <br />plant and equipment are recorded in the General Fixed Assets Group of accounts <br />at December 31, 1985 or 1984 (stated at $1,057,862 and $728,017 respectively). <br />Accordingly, we do not express an opinion on this account group. <br />In our opinion, except for the effects of such adjustments, if any, as might <br />have been determined to be necessary had we been able to obtain sufficient <br />evidential matter regarding the City's General Fixed Asset account group, the <br />general purpose financial statements referred to above present fairly the <br />financial position of the CITY OF LINO LAKES, MINNESOTA at December 31, 1985, <br />and the results of its operations and changes in financial position of its <br />proprietary fund type for the year then ended, in conformity with generally <br />accepted accounting principles applied on a basis consistent with that of the <br />preceding year. Also, in our opinion, except for the effects of such adjustments, <br />if any, as might have been determined to be necessary had we been able to obtain <br />sufficient evidential matter regarding the City's General Fixed Asset account <br />group, the combining, individual fund, and account group financial statements <br />referred to above present fairly the financial position of the individual funds <br />and account groups of the CITY OF LINO LAKES, MINNESOTA at December 31, 1985 and <br />the results of operations of such funds, in conformity with generally accepted <br />accounting principles applied on a basis consistent with that of the preceding <br />year. <br />MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS • PRIVATE COMPANIES PRACTICE SECTION <br />MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS <br />MUNICIPAL FINANCE OFFICERS ASSOCIATION • MINNESOTA ASSOCIATION OF SCHOOL BUSINESS OFFICIALS <br />
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