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LP <br /> CARLSON <br /> 1NDF.PF.NDENT AUDITOR'S REPORT <br /> ON MINNESOTA LEGAL COMPLIANCE <br /> To the City Council and Management <br /> City of Mounds View,Minnesota <br /> We have audited, in accordance with auditing standards generally accepted in the United States of <br /> America, and the standards applicable to financial audits contained in Government Auditing Standards, <br /> issued by the Comptroller General of the United States, the financial statements of the governmental <br /> activities, the business-type activities, each major fund, and the aggregate remaining fund information of <br /> the City of Mounds View, Minnesota(the City) as of and for the year ended December 31, 2025, and the <br /> related notes to the financial statements,which collectively comprise the City's basic financial statements, <br /> and have issued our report thereon dated April 28,2026. <br /> MINNESOTA LEGAL COMPLIANCE <br /> In connection with our audit, we noted that the City failed to comply with provisions of the claims and <br /> disbursements section of the Minnesota Legal Compliance Audit Guide for the Cities,promulgated by the <br /> State Auditor pursuant to Minnesota Statutes § 6.65, insofar as they relate to accounting matters as <br /> described in the Schedule of Findings and Responses as finding 2025-002. Also, in connection with our <br /> audit, nothing came to our attention that caused us to believe that the City failed to comply with the <br /> provisions of the contracting—bid laws, depositories of public funds and public investments, conflicts of <br /> interest, public indebtedness, miscellaneous provisions, and tax increment financing sections of the <br /> Minnesota Legal Compliance Audit Guide for Cities, insofar as they relate to accounting matters. <br /> However, our audit was not directed primarily toward obtaining knowledge of such noncompliance. <br /> Accordingly, had we performed additional procedures, other matters may have come to our attention <br /> regarding the City's noncompliance with the above referenced provisions, insofar as they relate to <br /> accounting matters. <br /> CITY'S RESPONSE TO FINDING <br /> Government Auditing Standards requires the auditor to perform limited procedures on the City's response <br /> to the legal compliance finding identified in our audit and described in the accompanying Schedule of <br /> Findings and Responses. The City's response was not subjected to the other auditing procedures applied <br /> in the audit of the financial statements and, accordingly,we express no opinion on the response. <br /> (continued) <br /> -3- <br /> 763.535.8150 1 www.Ibcarlson.com <br />