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ADRIAN <br />HELGESONI R <br />AND COMPANY <br />Certified Public Accountants <br />1221 Nicollet Mall <br />Minneapolis, MN 55403 <br />May 31, 1985 <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. Anthony, <br />Minnesota as of and for the year ended December 31, 1984, as listed in the table of <br />contents. Our examination was made in accordance with generally accepted auditing <br />standards and, accordingly, included such tests of the accounting records and such <br />other auditing procedures as we considered necessary in the circumstances. <br />As described more fully in Note 1, the combined financial statements referred to <br />above do not include financial statements of the general fixed assets account group, <br />which should be included to conform with generally accepted accounting principles. <br />In our opinion, except that the ommission of the financial statements described <br />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, 1984 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 />-4- <br />