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ADRIAN S. HELGESON $ CO. <br />CERTIFIED PUBLIC ACCOUNTANTS <br />3710 IDS CENTER,90 SOUTH EIGHTH STREET <br />MINNEAPOLIS, MINNESOTA 55402 <br />June 25, 1981 <br />ACCOUNTANTS' REPORT <br />Honorable Mayor and Members of the City Council <br />City of St. Anthony, Minnesota <br />We have examined the combined financial statements of the City of St. <br />Anthony, Minnesota, as of and for the year ended December 31, 1980, as listed in <br />the table of contents. Our examination was made in accordance with generally <br />accepted auditing standards and, accordingly, included such tests of the accounting <br />records and such other auditing procedures as we considered necessary in the <br />circumstances. <br />As described more fully in Note 1, the combined financial statements <br />referred to above do not include financial statements of the general fixed assets <br />account group, which should be included to conform with generally accepted <br />accounting principles. <br />In our opinion, except that the ommission of the financial statements <br />described above results in an incomplete presentation, as explained in the preceding <br />paragraph, the combined financial statements referred to above present fairly the <br />financial position of the City of St. Anthony, Minnesota at December 31, 1980, and <br />the results of its operations and the changes in financial position of its <br />proprietary fund types for the year then ended, in conformity with generally <br />accepted accounting principles applied on a basis consistent with that of the <br />preceding year. <br />-5- <br />ADRIAN S, -�EIRAR &CD <br />