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VOTO, REARDON, TAUTGES & CO., LTD. <br />CERTIFIED PUBLIC ACCOUNTANTS <br />VLSI: <br />Birch Lake Professional Building • 1310 E. Hwy. 96 • White Bear Lake, MN 55110 • Phone 426 -3263 <br />To the Honorable Mayor and <br />Members of the City Council <br />City of Lino Lakes, Minnesota <br />ROBERT J. VOTO, CPA <br />TIMOTHY E. REARDON, CPA <br />ROBERT G. TAUTGES, CPA <br />The Annual Financial Report of the City is complete and has been transmitted <br />to the City Council. In conjunction with our examination of the financial state- <br />ments, we have prepared this report to assist the City in the analysis of: <br />• Financial results. <br />• Financial trends. <br />• Internal control systems (and weaknesses, if any). <br />• The fund balances of the various funds of the City. <br />• Compliance procedures related to Federal and State regulations <br />and /or statutes as they directly relate to financial matters. <br />• Actual and potential effects of State legislation regarding <br />the financing of City government. <br />Based on the above areas, we offer recommendations for improvement as <br />appropriate with a summary of such recommendations on the last page of this <br />report. Additionally, we are available to discuss the contents of this report <br />with the City Council upon request. <br />STATE LEGISLATION - EFFECTS ON FINANCING LOCAL GOVERNMENT <br />The two most prevalent revenue sources for Minnesota cities are property <br />taxes and State shared revenues. The limits for each of these revenue sources <br />is established by State statutes. In order for City government to responsibly <br />budget services and at the same time protect the financial integrity of the <br />city, State legislation must be closely monitored. To assist the City in this <br />regard, we have gathered historical data and each year have prepared reports for <br />our client cities. As the 1985 legislative session progresses, we will continue <br />efforts in this regard. At the completion of the session, we will update our <br />data and forward information to the City Council. <br />MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS • PRIVATE COMPANIES PRACTICE SECTION <br />MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS <br />MUNICIPAL FINANCE OFFICERS ASSOCIATION • MINNESOTA ASSOCIATION OF SCHOOL BUSINESS OFFICIALS <br />