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ABDO <br />SICK & <br />r •~ yNZEYEI~LLP <br />Certified Public Accountants & Consultants <br />Grandview Square <br />5201 Eden Avenue <br />Suite 370 <br />Edina, MN 55436 <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 year ended <br />December 31, 2007, and have issued our report thereon dated April 7, 2008. <br />We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the <br />provisions of the Minnesota Legal Compliance Audit Guide for Local Government, promulgated by the Minnesota Office of the <br />State Auditor pursuant to Minnesota statute, section 6.65. Accordingly, the audit included such tests of the accounting records anc' <br />such other auditing procedures, as we considered necessary in the circumstances. <br />The Minnesota Legal Compliance Audit Guide for Local Government covers six main categories of compliance to be tested: <br />contracting and bidding, deposits and investments, conflicts of interest, public indebtedness, claims and disbursements and <br />miscellaneous provisions. 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 in 2007. <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 />~~.~,~~ <br />April 7, 2008 <br />Minneapolis, Minnesota <br />ABDO, EICK & MEYERS, LLP <br />Certified Public Accountants <br />-34- <br />952.835.9090 Fax 952.835.3261 <br />www.aemcpas.com <br />