Management Report and Recommendations 12/31/1995

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War MEW Ilmor Iwo TAUTGES, REDPATH & CO., LTD. CERT F!ED PUBLIC ACCOUNTANTS To the Honorable Mayor and Members of the City Council City of Lino Lakes, Minnesota This Report is prepared in conjunction with the audit of the City's 1995 Annual Financial Report. This report is designed to provide the City added analysis of financial trends, compliance issues and fund position. This report presents trend analysis to illustrate the impact of the changes on the overall funding of basic governmental services of the City, and updates financial analysis of funds and account balances of the City. Areas which may be of particular interest to the City are as follows: • The fund balance of the General Fund increased $215,297 in 1995 to a total of $2,086,231 at December 31, 1995. • During 1995 the City completed an inventory of all City assets and implemented computerized fixed asset records. The fixed asset inventory enabled the City to receive a "clean" opinion on its 1995 Comprehensive Annual Financial Report. • The City will submit the 1995 Comprehensive Annual Financial Report to the Government Finance Officers Association of the United States and Canada's Certificate of Achievement for Excellence in Financial Reporting program. • Appendix A outlines certain Minnesota Statute changes that impact cities. • Appendix B outlines upcoming accounting and financial reporting standard changes applicable to governmental entities. We offer recommendations for improvement as appropriate with a summary of such recommendations on the last page of this report. Additionally, we are available to discuss this report with the City upon request. Respectfully submitted, L f n Z TAUTGES, REDPATH & CO., LTD. Certified Public Accountants June 3, 1996 - 4810 White Bear Parkway • White Bear Lake, Minnesota 55110 • 612/426 -7000 • FAX /426 -5004 • Member of HLB International