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Immer <br />June 16, 1998 <br />Honorable Mayor, Members of the City <br />Council, and City Administrator <br />City of Lino Lakes, Minnesota <br />The Comprehensive Annual Financial Report of the City of Lino Lakes, Minnesota, is <br />submitted herein for the year ended December 31, 1997. The City is responsible for the <br />accuracy and completeness of the presentation including all disclosures. The Finance <br />department believes that the data presented is accurate in all material aspects and presents the <br />financial position and results of operations of the City in a fair manner. <br />The organization, form and contents of this report were prepared in accordance with the <br />standards prescribed by the Government Finance Officer's Association of the United States and <br />Canada, the American Institute of Certified Accountants, the State Auditor's Office, the State <br />of Minnesota and the City Charter. <br />The Comprehensive Annual Financial Report consists of three parts: <br />a. An Introductory Section - contains the letter of transmittal, table of contents, elected <br />and administrative officials and organizational chart. <br />b. A Financial Section - contains the independent auditors' report, notes to the financial <br />statements, combined financial statements and the combining and individual fund and <br />account group statements and supplemental schedules. <br />c. A Statistical Section - contains various unaudited tables showing the financial trends of <br />the City and miscellaneous statistics. <br />I believe that the data presented is accurate in all material aspects. It is presented in a manner <br />that fairly reflects the financial operations of the City and is easily read for maximum <br />understanding of the financial manners presented. The notes are considered an essential part in <br />providing insight into the information presented. <br />Reliable financial information requires an establishment of accounting records that are <br />adequately supported by internal accounting controls. The City believes that existing internal <br />accounting controls are adequate to provide reasonable assurance that City assets are <br />1189 Main Street • Lino Lakes, Minnesota • 55014 <br />Phone/TDD: 612 - 464 -5562 • Fax: 612- 464 -4568 <br />7 <br />