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~' ~ABDO <br />w,t;EICK& <br />®I ~, _ lY1L 1 1~1 W LLP <br />G!rtifisd RrhLic Accnuntanty ti Cmuultnntc <br />5201 h:dcn Accnuc <br />Suite 250 <br />Gdinn, MN 5513(+ <br />REPORT ON MINNESOTA LEGAL COMPLIANCE <br />Public Utilities Commission <br />Elk River Municipal Utilities <br />Elk River, Minnesota <br />We have audited the financial statements of the Elk River Municipal Utilities (the Utilities) as of and for the years ended <br />December 31, 201 I and 2010, and have issued our report [hereon dated April 24, 2012. <br />We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the provisions <br />of the Minnesota Legal Compliance Audit Guide for Loca/Government, promulgated by the Minnesota Office of the State Auditor <br />pursuant to Minnesota statute, section 6.65. Accordingly, the audit included such tests of the accounting records and such other <br />auditing procedures, as we considered necessary in [he circumstances. <br />The Minnesota Legal Compliance Audit Guide for Local Government covers seven main categories of compliance to be tested: <br />contracting and bidding, deposits and investments, conflicts of interest, public indebtedness, claims and disbursements, miscellaneous <br />provisions, and tax increment financing. Our study included all of the listed categories. <br />The results of our tests indicate that for the items tested, the Utilities complied with the material terms and conditions of applicable <br />legal provisions. <br />This report is intended solely for the information and use of the Public Utilities Commission, City Council, management and the <br />Office of the State Auditor and is not intended to be and should not be used by anyone other than these specified parties. <br />April 24, 2012 <br />Minneapolis, Minnesota <br />912.633.9090 Fnx 932. a:4.5.:SYGI <br />www.armrpes.rum <br />G9 <br />~, L.GIC ~ MGM, LAP <br />ABDQ, EICK & MEYERS, LLP <br />Certified Public Accoumm~rs <br />