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Annual Financial Report 12/31/1993
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Annual Financial Report 12/31/1993
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Annual Financial Report 12/31/1993
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To the Honorable Mayor and <br />Members of the City Council <br />City of Lino Lakes, Minnesota <br />TAUTGES, REDPATH & CO., LTD. <br />CERTIFIED PUBLIC ACCOUNTANTS <br />INDEPENDENT AUDITOR'S REPORT <br />We have audited the accompanying general purpose financial statements of the City of Lino Lakes, Minnesota, as of <br />December 31,1993 and for the year then ended as listed in the table of contents. These general purpose financial <br />statements are the responsibility of the City's management. Our responsibility is to express an opinion on these <br />general purpose financial statements based on our audit. <br />Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing <br />standards and Governmental Auditing Standards as issued by the Comptroller General of the United States. Those <br />standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial <br />statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the <br />amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting <br />principles used and significant estimates made by management, as well as evaluating the overall fmancial statement <br />•- presentation. We believe that our audit provides a reasonable basis for our opinion. <br />The City does not maintain complete accounting controls over quantities and costs of General Fixed Assets. <br />Therefore, we were not able to obtain sufficient evidential matter to foam an opinion regarding the amounts at which <br />property, plant and equipment are recorded in the General Fixed Assets Account Group at December 31,1993 or <br />1992 (stated at $2,630,549 and $2,344,451 respectively). Accordingly, we do not express an opinion on this <br />account group. <br />In our opinion, except for the effects of such adjustments, if any, as might have been deterfnined had we been able to <br />obtain sufficient evidential matter regarding the City's General Fixed Assets, the general purpose financial statements <br />referred to above present fairly, in all material respects, the financial position of the City of Lino Lakes, Minnesota, <br />as of December 31, 1993 and the results of its operations and the Statement of Cash Flows of its Proprietary Fund <br />types for the year then ended in conformity with generally accepted accounting principles. <br />Our audit was made for the purpose of forming an opinion on the general purpose fmancial statements taken as a <br />whole. The combining, individual fund and account group financial statements and supplementary financial <br />information in the table of contents is presented for purposes of additional analysis and is not a required part of the <br />general purpose financial statements of the City of Lino Lakes, Minnesota. Such information, except for that <br />portion marked "unaudited," on which we express no opinion, has been subjected to the auditing procedures applied <br />in the audit of the general purpose fmancial statements and, in our opinion, the information is fairly stated in all <br />material respects in relation to the general purpose fmancial statements taken as a whole. <br />4. <br />TAUTGES, REDPATH & CO., LTD. <br />Certified Public Accountants <br />May 5, 1994 <br />4810 White Bear Parkway • White Bear Lake, Minnesota 55110 • 612/426 -7000 • FAX /426 -5004 • Member of HLB International <br />
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