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<br /> <br />remaining fund information in our report dated June 30, 2023. In our opinion, the summarized <br />comparative information presented herein as of and for the year ended December 31, 2022 is <br />consistent, in all material respects, with the audited financial statements from which it has been <br />derived. <br /> <br />Responsibilities of Management for the Financial Statements <br /> <br />Management is responsible for the preparation and fair presentation of the financial statements in <br />accordance with accounting principles generally accepted in the United States of America, and <br />for the design, implementation, and maintenance of internal control relevant to the preparation <br />and fair presentation of financial statements that are free from material misstatement, whether <br />due to fraud or error. <br /> <br />In preparing the financial statements, management is required to evaluate whether there are <br />conditions or events, considered in the aggregate, that raise substantial doubt about the City of <br />St. Anthony, Minnesota’s ability to continue as a going concern for twelve months beyond the <br />financial statement date, including any currently known information that may raise substantial <br />doubt shortly thereafter. <br /> <br />Auditor’s Responsibilities for the Audit of the Financial Statements <br /> <br />Our objectives are to obtain reasonable assurance about whether the financial statements as a <br />whole are free from material misstatement, whether due to fraud or error, and to issue an <br />auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but <br />is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance <br />with generally accepted auditing standards and Government Auditing Standards will always <br />detect a material misstatement when it exists. The risk of not detecting a material misstatement <br />resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, <br />forgery, intentional omissions, misrepresentations, or the override of internal control. <br />Misstatements are considered material if there is a substantial likelihood that, individually or in <br />the aggregate, they would influence the judgment made by a reasonable user based on the <br />financial statements. <br /> <br />In performing an audit in accordance with generally accepted auditing standards and <br />Governmental Auditing Standards, we: <br /> <br /> Exercise professional judgment and maintain professional skepticism throughout the <br />audit. <br /> Identify and assess the risks of material misstatement of the financial statements, whether <br />due to fraud or error, and design and perform audit procedures responsive to those risks. <br />Such procedures include examining, on a test basis, evidence regarding the amounts and <br />disclosures in the financial statements. <br /> <br />16