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TAUTGES, REDPATH & CO., LTD. <br /> 1111 CEPT;F'EC='1S_:C,CCC(.'Ntr4t•;rS <br /> I <br /> I <br /> Honorable Mayor and <br /> Members of the City Council <br /> City of Mounds View • <br /> 2401 Northeast Highway 10 <br /> Mounds View,MN 55112 <br /> We have completed our analysis of the City's water and sewer enterprise funds. The primary <br /> objective of our work was to determine required revenue levels through the preparation of <br /> financial projections. <br /> The first section of this report contains analysis of the financial information and provides summary <br /> information and conclusions regarding rate requirements. The second section of this report <br /> presents historical and projected financial statements and the summary of significant projection <br /> assumptions. <br /> I • Long-range financial projections will have variances to actual results. The benefit of the <br /> projections is to provide a plan against which results can be measured. This plan is designed to <br /> assist the City in establishing and modifying utility rates. <br /> The financial statement projections will allow for comparison to actual results because the <br /> projection formats are similar to the water and sewer enterprise fund statements published each <br /> year in the Comprehensive Annual Financial Report of the City. If actual results are more or less <br /> favorable than projected, the areas of variance can be readily identified. The City may then alter <br /> the projected utility rate needs for the ensuring period based on the prior year's variance. <br /> Thank you for the opportunity to provide additional service to the City of Mounds View. <br /> 1 February 8, 1996 <br /> Tautges, Redpath& Co., Ltd. <br /> Certified Public Accountants <br /> • 'i/^•._ B Lake Minresc a 55 i" • :v • =-..{ <br />