Laserfiche WebLink
LA <br /> Other Matters <br /> Change in Accounting Standards <br /> As described in Note 8 to the basic financial statements,the Association adopted the provisions of Governmental Accounting Standard <br /> Board(GASB)Statement No. 63,Financial Reporting of Deferred Outflows and Resources,Deferred Inflows of Resources, and Net <br /> Position and Statement No. 65,Items Previously Reported as Assets and Liabilities, for the year ended December 31,2012. Adoption <br /> of the provisions of these statements results in significant change to the classifications of the components of the financial statements. <br /> Required Supplementary Information <br /> Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis <br /> starting on page 13 and the Required Supplementary Information on page 35 be presented to supplement the basic financial <br /> statements. Such information,although not a part of the basic financial statements,is required by the Governmental Accounting <br /> Standards Board,who considers it to be an essential part of financial reporting for placing the basic financial statements in an <br /> appropriate operational,economic,or historical context. We have applied certain limited procedures,to the required supplementary <br /> information in accordance with auditing standards generally accepted in the United States of America which,consisted of inquiries of <br /> management about the methods of preparing the information and comparing the information for consistency with management's <br /> responses to our inquiries,the basic financial statements,and other knowledge we obtained during our audit of the basic financial <br /> statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide <br /> us with sufficient evidence to express an opinion or provide any assurance. <br /> Supplementary Information in Relation to the Financial Statements as a Whole <br /> Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Association's <br /> basic financial statements as a whole. The introductory section listed in the table of contents is presented for the purposes of <br /> additional analysis and is not a required part of the basic financial statements. The introductory section has not been subjected to the <br /> auditing procedures applied in the audit of the basic financial statements and,accordingly,we express no opinion or provide any <br /> assurance on it. <br /> May 1,2013 ABDO,EICK&MEYERS,LLP <br /> Minneapolis,Minnesota Certified Public Accountant <br /> 952.835.9090 ■ Fax 952.835.3261 <br /> www.aemepas.com -11- <br />