5.4. SR 06-07-2010 - Laserfiche WebLink

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~' 'A~D~ ~ ~..EI I~c~ J ~• ~ c ~ ~~ ` 11Y.~~~ I,I1P Certi r`e.r ' 5201 I:de~r .-~~~rnrjc Suite 3 i(? l~.diua. Alti 55E3G INDEPENDENT AUDITOR' S REPORT 1 Honorable Mayor and Council ' City of Elk River, Minnesota We have audited the accompanying fmancial statements of the governmental activities, the business-type activities, the discretely ' presented component unit, each major fund, and the aggregate remaining fund information of the City of Elk River, Minnesota (the City), as of and for the year ended December 31, 2009, which collectively comprise the City's basic fmancial statements as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express opinions on these fmancial statements based on our audit. The prior year comparative information has been derived from ' the City's 2008 fmancial statements and, in our report dated May 7, 2009, we expressed unqualified opinions on the respective proprietary fund fmancial statements. ' We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the fmancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the ' amounts and disclosures in the fmancial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. ' In our opinion, the fmancial statements referred to above present fairly, in all material respects, the respective fmancial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City as of December 31, 2009, and the respective changes in fmancial position and t cash flows, where applicable, thereof and the budgetary comparison for the General fund for the year then ended in conformity with accounting principles generally accepted in the United States of America. ' In accordance with Government Auditing Standards, we have also issued our report dated May 13, 2010 on our consideration of the City's internal control over fmancial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over fmancial reporting and compliance and the results of that testing, and not to provide an opinion on the internal ' control over fmancial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and important for assessing the results of our audit. ' 952.835.9090 Fax 952.835.3261 www.aemcpas.com