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Federal Financial Assistance 12/31/1994
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Federal Financial Assistance 12/31/1994
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Finance Dept
Finance Category
Audit
Finance Number Identifier
Federal Financial Assistance
Date
12/31/1994
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Atom <br />We noted certain matters involving the internal control structure and its operation that we consider <br />to be reportable conditions under standards established by the American Institute of Certified <br />Public Accountants. Reportable conditions involve matters coming to our attention relating to <br />significant deficiencies in the design or operation of the internal control structure that, in our <br />judgment, could adversely affect the entity's ability to record, process, summarize, and report <br />financial data consistent with the assertions of management in the general purpose financial <br />statements. <br />The City does not maintain complete accounting controls over quantities and costs of property and <br />equipment in the General Fixed Asset Account Group. This affects the control and accountability <br />function of property and equipment of the City. <br />A material weakness is a reportable condition in which the design or operation of the specific <br />internal control structure elements does not reduce to a relatively low level the risk that errors or <br />irregularities in amounts that would be material in relation to the general purpose financial <br />statements being audited may occur and not be detected within a timely period by employees in the <br />normal course of performing their assigned functions. <br />Our consideration of the internal control structure would not necessarily disclose all matters in the <br />internal control structure that might be reportable conditions and, accordingly, would not <br />necessarily disclose all reportable conditions that are also considered to be material weaknesses as <br />defined above. However we believe none of the reportable conditions described above is a <br />material weakness. <br />This report is intended for the information of the City of Lino Lakes, Minnesota and the Federal <br />Cognizant Audit Agency. This restriction is not intended to limit the distribution of this report, <br />which is a matter of public record. <br />w/g <br />TAUTGES, REDPATH & CO., LTD. <br />Certified Public Accountants <br />April 10, 1995 <br />
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