5.1. ERMUSR 04-12-2011 - Laserfiche WebLink

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~' 'ABDO w~t;EICK&DC ®I ~, _ ~~1 t,J LhP Cert~ed Public AecnunFants S Consultants April 4, 2011 5201 F.dv Acanua S~ile 250 Gdina, MN 5543( Management and Public Utilities Commission Ells River Municipal Utilities Ells River, Minnesota We have audited the statements of net assets of the Ells River Municipal Utilities (the Utilities) of the City of Ells River, Minnesota, (the City) for yeazs ended December 31, 2010 and 2009, and the related statements of revenues, expenses and changes in net assets and cash flows for the yeazs then ended and have issued our report thereon April 4, 2011. Professional standards require that we provide you with the following information related to our audits. Our Responsibility Under Auditing Standards Generally Accepted in the United States As stated in our engagement letter, our responsibility, as described by professional standards, is to express an opinion about whether the fmancial statements prepared by management with your oversight aze fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States. Our audit of the fmancial statements does not relieve you or management of your responsibilities. Our responsibility is to plan and perform the audit to obtain reasonable, but not absolute, assurance that the fmancial statements aze free of material misstatement. As part of our audit, we considered the internal control over fmancial reporting of the Utilities. Such considerations were solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control We are responsible for communicating significant matters related to the audit that aze, in our professional judgment, relevant to your responsibilities in overseeing the fmancial reporting process. However, we aze not required to design procedures specifically to identify such matters. Significant Audit Findings A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the City's fmancial statements will not be prevented, or detected and corrected on a timely basis. Our consideration of internal control over fmancial reporting was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control over fmancial reporting that might be significant deficiencies or material weaknesses and therefore, there can be no assurance that all deficiencies, significant deficiencies, or material weaknesses have been identified. We did not identify any deficiencies in internal control over fmancial reporting that we consider to be material weaknesses, as defined above. 95?.B:i5.9U9U • tax 2S?.635.9''?Gl wu~w.aemcpac.cum