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ABDO <br /> EICK & <br /> MEYERS LLP <br /> Certified Public Accountants& Consultants <br /> INDEPENDENT AUDITOR'S REPORT ON MINNESOTA LEGAL COMPLIANCE <br /> Public Utilities Commission <br /> Elk River Municipal Utilities <br /> Elk River,Minnesota <br /> We have audited,in accordance with auditing standards generally accepted in the United States of America,the financial statements of <br /> Elk River Municipal Utilities(the Utilities)of the City of Elk River,Minnesota(the City)as of and for the year ended December 31, <br /> 2014,and the related notes to the financial statements,and have issued our report thereon dated April 7,2015. <br /> The Minnesota Legal Compliance Audit Guide for Political Subdivisions,promulgated by the State Auditor pursuant to Minnesota <br /> Statute§6.65,contains seven categories of compliance to be tested:contracting and bidding,deposits and investments,conflicts of <br /> interest,public indebtedness,claims and disbursements,miscellaneous provisions,and tax increment financing. Our audit considered <br /> all of the listed categories,except that we did not test for compliance with the provisions for tax increment financing because the <br /> Utilities has not established a tax increment financing district. <br /> In connection with our audit,nothing came to our attention that caused us to believe that the Utilities' failed to comply with the <br /> provisions of the Minnesota Legal Compliance Audit Guide for Political Subdivisions.However,our audit was not directed primarily <br /> toward obtaining knowledge of such noncompliance. Accordingly,had we performed additional procedures,other matters may have <br /> come to our attention regarding the Utilities'noncompliance with the above referenced 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 /> 0146 ilyitteu Lc <br /> ABDO,EICK&MEYERS,LLP <br /> Minneapolis,Minnesota <br /> April 7,2015 <br /> 5201 Eden Avenue,Suite 250 <br /> Edina,MN 55436 <br /> 952 835 9090 I Fax 952.835.3261 <br /> 109 <br />