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31 STUART J. BONNIWELL Certified Public Accountant 7 101 York Avenue South- Suite 50 Office: (612)921-3325 Minneapolis,MN 55435 Fax: (612)921-3331 The CPA- The Vakw:' January 17, 2000 Honorable Mayor and City Council City of St. Anthony 3301 Silver Lake Road St. Anthony, Minnesota 55418 I am pleased to confirm our understanding of the services to be provided the City of St. Anthony, Minnesota for the year ended December 31 , 1999. 1 will audit the general purpose financial statements of the City of St. Anthony, Minnesota as of and for the Year ended December 31 , 1999. Also, the financial report 'submitted to you will include combining statements by fund type, individual fund and account group statements that will be subjected to the auditing procedures applied in the audit of the general purpose financial statements. AUDIT OBJECTIVES The objective of the audit is the expression of an opinion as to whether the general purpose financial statements are fairly presented, in all material �respects, in con- formity with generally accepted accounting principles and to report on the fairness of the additional information referred to in the first paragraph when considered in relation to the general purpose financial statements taken as a whole. The audit will be conducted in accordance with generally accepted auditing standards and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and will include tests of the accounting records of the City of St; Anthony, Minnesota and other procedures con- sidered necessary to enable me to express such an opinion. If the opinion on the general purpose financial statements is other than unqualified, I will fully discuss the reasons with you before submitting a different kind of report. If, for any rea- son, I am unable to complete the audit or am unable to form or have not formed an opinion, I may decline to express an opinion or to issue a report as a result of this engagement. MANAGEMENT RESPONSIBILITIES The management of the City of St. Anthony, Minnesota is responsible for establishing and maintaining internal control and for compliance with laws, regulations, con- tracts, and agreements. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of the controls. The objectives of internal control are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of the general purpose financial statements in accordance with generally accepted accounting- principles.