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-3- INDEPENDENT AUDITOR’S REPORT ON MINNESOTA LEGAL COMPLIANCE To the City Council and Management City of Mounds View, Minnesota We have audited, in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Mounds View, Minnesota (the City) as of and for the year ended December 31, 2024, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements, and have issued our report thereon dated April 28, 2025. MINNESOTA LEGAL COMPLIANCE In connection with our audit, we noted that the City failed to comply with provisions of the claims and disbursements section and the contracting – bid laws section of the Minnesota Legal Compliance Audit Guide for the Cities, promulgated by the State Auditor pursuant to Minnesota Statutes § 6.65, insofar as they relate to accounting matters as described in the Schedule of Findings and Responses as findings 2024-002 and 2024-003. Also, in connection with our audit, nothing came to our attention that caused us to believe that the City failed to comply with the provisions of the depositories of public funds and public investments, conflicts of interest, public indebtedness, miscellaneous provisions, and tax increment financing sections of the Minnesota Legal Compliance Audit Guide for Cities, insofar as they relate to accounting matters. However, our audit was not directed primarily toward obtaining knowledge of such noncompliance. Accordingly, had we performed additional procedures, other matters may have come to our attention regarding the City’s noncompliance with the above referenced provisions, insofar as they relate to accounting matters. CITY’S RESPONSES TO FINDINGS Government Auditing Standards requires the auditor to perform limited procedures on the City’s responses to the legal compliance findings identified in our audit and described in the accompanying Schedule of Findings and Responses. The City’s responses were not subjected to the other auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on the responses. (continued) lB CARLSON 605 US Highway 169 N, Suite 650, M 1nneapol 1s, MN 55441 763.535.8150 I www.lbcarlson com