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STUART J. BONNIWELL Certified Public Accountant 7101 York Avenue South Telephone Minneapolis, Minnesota 55435 (612) 921-3354 December 20, 1988 Mr. David M. Childs City Manager City of St. .Anthony 3301 Silver Lake Road St. Anthony_, .MN - 55407 Dear Mr. Childs: I wish to confirm my understanding of the arrangements for the services to be performed for the City of St. Anthony for the year ending December 31 , 1988. If these arrangements are in accordance with your understanding, please sign this letter and return it in the enclosed envelope. I will audit the financial statements of the City of St. Anthony for the year ending December 31 , 1988, and express an opinion on the fairness of • presentation of the financial statements in conformity with generally accepted accounting principles. My ability to express an opinion and the wording of my opinion will depend on the facts and circumstances at the date of the report. If my opinion will be other than unqualified, I will discuss the reasons with you before submitting a different kind of report. The financial statements are the representation of management, who has the responsibility for properly recording transactions, for safeguarding assets and for establishing a system of internal control that will , among other things, help assure the accuracy of the financial statements. The audit will be performed in accordance with generally accepted auditing standards and, accordingly, will include such tests of the accounting records and such other auditing procedures as I consider necessary in the circumstances. An audit of this type will include a review of the system of internal control , tests of the transactions and analytical reviews. It will include selective testing of sample transactions, but it will not include a detailed audit of transactions to the extent necessary to disclose defalcations or other irregu- larities, should any exist. Should any such matters come to my attention, they would be submitted to you promptly. I will report to you any material internal control weaknesses noted during the audit. I also will submit any significant ideas or observations I believe will help achieve objectives of the City or improve efficiency in operations. I will be pleased to respond to inquiries you might have about accounting, financial or other business matters.