5.1. SR 06-01-2009 - Laserfiche WebLink

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1 ~ ~ABDO ~ EICK & MEYERS«P certified Public Accountants & Consultants 5201 Eden Avenue Suite 370 Edina, MN 55436 i INDEPENDENT AUDITOR'S REPORT Board of Trustees Ells River Fire Relief Association Ells River, Minnesota We have audited the accompanying fmancial statements of the governmental and fiduciary activities of the Elk River Fire Relief Association (the Association) as of and for the years December 31, 2008 and 2007, which collectively comprise the Association's basic fmancial statements as listed in the table of contents. These fmancial statements are the responsibility of the Association's management. Our responsibility is to express an opinion on the fmancial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the fmancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the fmancial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall fmancial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the fmancial statements referred to above present fairly, in all material respects, the fmancial position of the governmental and fiduciary activities of the Association as of December 31, 2008 and 2007, and the results of its operations for the years then ended in conformity with accounting principles generally accepted in the United States of America. 1 The management's discussion and analysis on pages I through V is not a required part of the basic fmancial statements but is supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the supplementary information. However we did not audit the information and express no opinion on it. Our audits were conducted for the purpose of forming opinions on the fmancial statements that comprise the Association's basic fmancial statements. The supplementary information listed in the table of contents is presented for the purposes of additional analysis but is a required part of the basic fmancial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic fmancial statements and, in our opinion, is fairly stated in all material respects in relation to the basic fmancial statements taken as a whole. May 12, 2009 Minneapolis, Minnesota r~ 952.835.9090 Fax 952.835.3261 www.aemcpas.com -2- ~~4 ABDO, EICK & MEYERS, LLP Certified Public Accountants