Federal Financial Assistance 12/31/1996

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TAUTGES, REDPATH & CO., LTD. CERTIFIED PUBLIC ACCO OF V `y'.,; ,'c Independent Auditor's Report on Supplementary Schedule of Federal Financial Assistance To the Honorable Mayor and Members of the City Council City of Lino Lakes, Minnesota We have audited the general purpose financial statements of the City of Lino Lakes, Minnesota, as of and for the year ended December 31, 1996, and have issued our report thereon dated February 28, 1997. These general purpose financial statements are the responsibility of the City of Lino Lakes, Minnesota's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. •– We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States and the provisions of Office of Management and Budget Circular A -128, Audits of State and Local Governments. Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a — reasonable basis for our opinion. Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements of the City of Lino Lakes, Minnesota, taken as a whole. The accompanying Schedule of Federal Financial Assistance is presented for purposes of additional analysis and is not a required part of the general purpose financial statements. The information in that schedule has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. TAUTGES, REDPATH & CO., LTD. -- Certified Public Accountants February 28, 1997 - 4810 White Bear Parkway • White Bear Lake, Minnesota 55110 • 612/426 -7000 • FAX /426 -5004 • Member of HLB International