CC RES 01-012 A RESOLUTION TO APPOINT A CITY PROSECUTING ATTORNEY

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Chairman and Commissioners • Housing and Redevelopment authority of St. Anthony Management is responsible for making all financial records and related information available. I understand that you will provide such information required for the audit and that you are responsible for the accuracy and completeness of that in- formation. I will advise you about appropriate accounting principles and their application and %%-ill assist in the preparation of your financial statements, but the responsibility for tiie firiancial statements remains with �-ou. This responsibi- lity includes the establishment and nuilriLeriance of adequate records and effective internal control over financial reporting, the selection and application of account- ing principles, and the SaTegUal'dlIlg Of assets. Management is responsible for adjustirlg the financial statemenLs to correct material misstatements and for con- firming in the representation letter that the effeeLs of any uncorrected misstate- ments aggregaLed dul•Ing the cul•rer:t engagement and pertaining to the latest period presented •are iiiiniaterial, both individually and in the aggregate, to the general purnose financial staten:eziLs Laileri as a whole. AUDIT PROCEDURES - L:E\E�:AL An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, the audit %,rill involve judgment about- the number of transactions to be examined and the areas to be tested. I will plan and perform the audit to obtairi reasonable rather than absolute assurance about whether the finarlclai staLenierits are free of material misstatement, whether • caused by error or fraud. Because an audit is designed to provide reasonable, but not absolute assurance arid because I will not perform a detailed examiniation of all transactions, there is rlsl_ Lii-,L a material misstatement may exist and riot be detected. In addiLron, an aUdiL is riot desiulr ed to detect inilnaterial errors, fraud, or other illegal acts Or Illegal ac Ls LhaL do not have a direct effect ori the general purpose firlaric:al staLeuieriUs. Ho+•:ever, I %.•ill Inform you of any material errors and any fraud that comes Lc: my attention. I will also inform you of any other illegal acts that conte to n:y atteriLlori, unless clearly inconsequeritial. My resporl- siblity as auditor is hinited Lo Lrie perr,d covered by the audit and does not extend to matters that alight arise during any later periods for which I ani not engaged as auditor. Audit procedures will include tests of documentary evidence supporting the trans- actions recorded in the accourits and direct confirmation of cash, receivables and certain other assets and liabilities b�, correspondence with selected financial institutions, crediLors arid others. I will request i%ritten representations from your attorney(s) as part of the engagement, and they may bill you for responding to this lllglllry. At the ten. lust r: of the audit, I %,-ill also request certain writ- teri representations from you about the financial statements and related matters. Identifying arid ensuring that the Housing and Redevelopment Authority of St. Anthony, Minnesota complies %,-ith laws, regulations, contracts, and agreements is the responsibility of management. As part of obtaining reasonable assurance about %vhether the general firiarlcial statements are free of material misstatement, I will perforni tests of the Authority's compliance with applicable laws and regu- lations arid the provisions of coilLracLs and agreements. However, the objective of • the audit %%-ill not be to provide an opinion on overall comnpliance and I will not express such an opinion.