5.1. ERMUSR 05-14-2013 - Laserfiche WebLink

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,� Opinions As discussed in Note 1B,the financial statements present only the Electric and Water enterprise funds and are not intended to present fairly the financial position of the City and the results of its operations and cash flows of its proprietary fund types in conformity with accounting principles generally accepted in the United States of America. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Electric and Water enterprise funds of the City as of December 31, 2012 and 2011 and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. Other Matters Change in Accounting Standards As described in the Note 6 to the basic financial statements,the Utilities adopted the provisions of Governmental Accounting Standards Board(GASB)Statement No. 63,Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position and Statement No. 65, Items Previously Reported as Assets and Liabilities, for the year ended December 31,2012. Adoption of the provisions of these statements results in significant change to the classifications of the components of the financial statements. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis and Schedule of Funding Progress, be presented to supplement the financial statements. Such information,although not a part of the financial statements, is required by the Government Accounting Standards Board,who considers it to be an essential part of financial reporting for placing the financial statements in an appropriate operational,economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America,which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries,the basic financial statements,and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information in Relation to the Financial Statements as a Whole Our audits were conducted for the purpose of forming opinions on the financial statements that collectively comprise the Utilities' financial statements as a whole. The introductory section and supplemental information listed in the table of contents are presented for the purpose of additional analysis and are not a required part of the financial statements of the Utilities. The supplemental information, except for the portion marked"unaudited"on which we express no opinion, has been subjected to the auditing procedures applied in the audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.The introductory section has not been subjected to the auditing procedures applied in the audit of the financial statements and,accordingly, we do not express an opinion or provide any assurance on them. fitk, May 6,2013 ABDO, EICK&MEYERS, LLP Minneapolis,Minnesota Certified Public Accountants 952.835.9090 • Fax 952.835.3261 www.aemcpas.co`n 11