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ADRAN L ELGESONIRk AND COMPANY Agenda Item: Reports-3g Status: Informational Certified Public Accountants 1221 Nicollet Mall Minneapolis, MN 55403 (612)341-3030 December 12, 1984 Mr. David M. Childs, City Manager City of St. Anthony 3301 Silver Lake Road Minneapolis, Minnesota 55418 Dear Mr. Childs: We wish to confirm our understanding of the arrangements for the services we are to perform for the City of St. Anthony for the year ending December 31, 1984. If these arrangements are in accordance with your understanding, please sign this letter and return it to us in the enclosed envelope. i We will examine the financial statements of the City of St. Anthony for the year ending December 31, 1984, and express an opinion on the fairness of presentation of the statements in conformity with generally accepted accounting principles. Our ability to express an opinion. and the wording of our opinion will depend on the facts and circumstances at the date of our report. If our opinion will be other than unqualified, we 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. Our examination will be performed in accordance with generally accepted auditing standards, which will include a review of the system of internal control, analytical reviews, and tests of the transactions to the extent we consider necessary. 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 irregularities should any exist. We will report to you any material internal control weaknesses noted during our examination. We also will submit any significant ideas or observations we believe will help achieve objectives of the City or improve efficiency in operations. We will be pleased to respond to inquiries you might have about financial or other business matters.