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Comprehensive Annual Financial Report 12/31/2011
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Comprehensive Annual Financial Report 12/31/2011
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Comprehensive Annual Financial Report
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12/31/2011
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Honorable Mayor and <br />Members of the City Council <br />City of Lino Lakes <br />In accordance with Government Auditing Standards, we have also issued our report dated May 17, <br />2012 on our consideration of the City's internal control over financial reporting and on our tests of its <br />compliance with certain provisions of laws, regulations, contracts, grant agreements, and other matters. <br />The purpose of that report is to describe the scope of our testing of internal control over financial <br />reporting and compliance and the results of that testing and not to provide an opinion on the internal <br />control over financial reporting or on compliance. That report is an integral part of an audit performed in <br />accordance with Government Auditing Standards and should be considered in assessing the results of <br />our audit. <br />Accounting principles generally accepted in the United States of America require that the <br />management's discussion and analysis, budgetary comparison information, and schedule of funding <br />progress as listed on the table of contents be presented to supplement the basic financial statements. <br />Such information, although not a part of the basic financial statements, is required by the Governmental <br />Accounting Standards Board, who considers it to be an essential part of financial reporting for placing <br />the basic financial statements in an appropriate operational, economic, or historical context. We have <br />applied certain limited procedures to the required supplementary information in accordance with <br />auditing standards generally accepted in the United States of America, which consisted of inquiries of <br />management about the methods of preparing the information and comparing the information for <br />consistency with management's responses to our inquiries, the basic financial statements, and other <br />knowledge we obtained during our audit of the basic financial statements. We do not express an <br />opinion or provide any assurance on the information because the limited procedures do not provide us <br />with sufficient evidence to express an opinion or provide any assurance. <br />Our audit was conducted for the purpose of forming opinions on the financial statements that <br />collectively comprise the City's basic financial statements. The other supplementary information and <br />combining fund financial statements, as listed on the table of contents, are presented for purposes of <br />additional analysis and are not a required part of the basic financial statements. The other <br />supplementary information and combining fund financial statements are the responsibility of <br />management and were derived from and relate directly to the underlying accounting and other records <br />used to prepare the financial statements. The information has been subjected to the auditing <br />procedures applied in the audit of the basic financial statements and certain additional procedures, <br />including comparing and reconciling such information directly to the underlying accounting and other <br />records used to prepare the financial statements or to the financial statements themselves, and other <br />additional procedures in accordance with auditing standards generally accepted in the United States of <br />America. In our opinion, the information is fairly stated in all material respects in relation to the basic <br />financial statements taken as a whole. <br />Our audit was conducted for the purpose of forming opinions on the financial statements that <br />collectively comprise the City's basic financial statements. The introductory and statistical sections are <br />presented for purposes of additional analysis and are not a required part of the basic financial <br />statements. Such information has not been subjected to the auditing procedures applied in the audit of <br />the basic financial statements, and accordingly, we do not express an opinion or provide any assurance <br />on it. <br />Minneapolis, Minnesota <br />May 17, 2012 <br />10 <br />CliftonLarsonAllen LLP <br />
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