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l� /k � � ~ <br />U '��17«�(-��� f�� U U��ri <br />CPAs, Consultants e^Ad,mn <br />w*ww.|arsomu|cm.com <br />INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE AND <br />ON INTERNAL CONTROL OVER FINANCIAL REPORTING <br />BASED ON AN AUDT OF FINANCIAL STATEMENTS PERFORMED IN <br />ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS <br />To the Honorable Mayor and <br />Members of the City Council <br />City of Lino Lakes, Minnesota <br />We have audited the general purpose financial statements of the City of Lino Lakoo, Minnesota as of <br />and for the year ended December 31, 2002 and have issued our report thereon dated March 20, 2003. <br />We conducted our audit in accordance with U.S. generally accepted auditing standards and the <br />standards applicable to financial audits contained in Government Auditing Sta7daxds, issued by the <br />Comptroller General of the United States. <br />Compliance <br />As part of obtaining reasonable assurance about whether the City of Lino Lakes, Minnesota's financial <br />statements are free of material misstatement, we performed tests of its compliance with certain <br />provisions of laws, FegU|8tinn3, cVnt[aCtS, and grantS, noncompliance with which could have a direct and <br />Ol@tehal effect on the determination of financial statement amounts. However, providing an opinion on <br />compliance with those provisions was not an objective of our audit, and @CCo(diOg|y, we do not express <br />such an opinion. The results of our tests disclosed no instances of noncompliance that are required to <br />be reported under GovernmentAuditing Standards. However, we noted a certain immateriat instance of <br />noncompliance, which has been reported to management of the City of Lino Lakes in a separate letter <br />dated March 20, 2003. <br />Internal Control over Financial Reporting <br />In planning and performing our audit, we considered the City of Lino Lakes, Minnesota's internal control <br />Over financial reporting in order to determine our auditing procedures for the purpose of expressing our <br />opinion on the financial statements and not to provide assurance on the internal control structure over <br />financial reporting. Our consideration of the internal control over financial reporting would not <br />necessarily disclose all matters in the internal control over financial reporting that might be material <br />weaknesses. A material weakness is a condition in which the design or operation of one or more of the <br />internal control components does not reduce to a relatively low level the risk that misstatements in <br />amounts that would be material in relation to the financial statements being audited may occur and not <br />be detected within a timely period by employees in the normal course of performing their assigned <br />functions. We noted no matters involving the internal control over financial reporting and its operation <br />that we consider to be material weaknesses. Hovvever, we noted other matters involving the internal <br />control over financial naporting, which we have reported to management in a separate letter dated <br />March 20, 2003. <br />(1) <br />Larson, Allen, Weishair & Go., LL <br />