HomeMy WebLinkAboutAudit Report Letter 1987ino
akes
Voto, Tautges, Redpath & Co., Ltd.
Birch Lake Professional Building
1310 East Highway 96
White Bear Lake, Minnesota 55110
In connection with your examination of the financial statement the various
funds of the City of Lino Lakes, Minnesota as of December 3 , 1987 an for the
year then ended, for the purpose of expressing an opinion as he her the
financial statements present fairly the financial position, changes in fund
balance, results of operations, and changes in financial position (where
appropriate) of the various funds of the City of Lino Lakes, Minnesota in con-
formity with generally accepted accounting principles and/or the recorded cash
transactions, we confirm, to the best of our knowledge and belief, the following
representations made to you during your examination.
1. We are responsible for the fair presentation in the financial
statements of financial position, changes in fund balance,
results of operations and changes in financial position in
conformity with generally accepted accounting principles
and/or the recorded cash transactions.
2. We have made available to you all:
a) Financial records and related data.
b) Minutes of all meetings of the City Council.
3. There have been no:
a) Irregularities involving administration or employees
who have significant roles in the system of internal
accounting control.
b) Irregularities involving other employees that could
have a material effect on the financial statements.
c) Communications from regulatory agencies concerning
non-compliance with, or deficiencies in, financial
reporting practices that could have a material
effect on the financial statements.
4. The City has no plans or intentions that may materially
affect the carrying value or classification of assets and
liabilities.
1189 MAIN STREET, LINO LAKES, MN 55014 (612)464-5562
Voto, Tautges, Redpath & Co., Ltd.
Page 2
5. There are no:
a) Violations or possible violations of laws or regulations
whose effects should be considered for disclosure in the
financial statements or as a basis for recording a loss
contingency.
b) Other material liabilities or gain or loss contingencies
that are required to he accrued or disclosed by
Statement of Financial Accounting Standards No. 5,
except as disclosed in the letter from our City
attorney.
6. There are no unasserted claims or assessments that the City
attorney has advised us are probable of assertion and must
be disclosed in accordance with Statement of Financial
Accounting Standards No. 5.
7. There are no material transactions that have not been pro-
perly recorded in the accounting records or related data
underlying the financial statements.
8. The City has satisfactory title to all owned assets, and
there are no unrecorded liens or encumbrances on such assets
nor have any assets been pledged.
9. All material inventories have been accurately tabulated and
stated on the first -in, first -out method and properly pre-
sented in the financial statements of the City.
10. The City has complied with all aspects of contractual
agreements that would have a material effect on the finan-
cial statement in the event of non-compliance.
11. No events have occurred subsequent to the balance sheet date
that would require adjustments to, or disclosure in, the
financial statements.
Randy Schumacher,
City Administrator
C� -ao-88
Date
Paula M. Romocky,
City Accountant
Date