5.3. ERMUSR 04-12-2016 - Laserfiche WebLink

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Other Matters Change in Accounting Standards As described in Note 6 to the financial statements,the Utilities adopted the provisions of Governmental Accounting Standard Board(GASB)Statement No. 68,Accounting and Financial Reporting for Pensions-an Amendment of GASB Statement No. 27 and Statement No.71,Pension Transition for Contributions Made Subsequent to the Measurement Date-an Amendment of GASB Statement No. 68, for the year ended December 31,2015.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 Page 13 and the Schedule of Employer's Shares of the Net Pension Liability,the Schedule of Employer's Contributions and the Schedule of Funding Progress for Other Post-Employment Benefit Plan starting on page 48 be presented to supplement the basic 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. Other Information Our audit was 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 and the supplemental information marked"unaudited"have 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. 0146 t .4Afivo,Lif ABDO,EICK&MEYERS,LLP Minneapolis,Minnesota March 31,2016 People +Process. BeW)11(1 the N.withers 110