5.1. SR 05-14-2001 - Laserfiche WebLink

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ABDO DO EI d J /IL-"TffRSLLP Cyrp,d Public Accouniatus & Consultants 7241 Ohms Lane Suite 200 Mi,meapo4 MN 55439 INDEPENDE`JT AUDITORS' REPORT Honorable Mayor and City Council City of Elk River, Minnesota We have audited the accompanying general purpose financial statements of the City of Elk. River, Minnesota, as of and for the year ended December 31, 2000 as listed in the table of contents. These general purpose financial statements are the responsibility of the City of Elk River, Minnesota's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with U.S. generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. "Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Elk River, Minnesota at December 31, 2000 and the results of its operations and cash flows of the proprietary fiord type for the year then ended, in conformity with U.S. generally accepted accounting principles. In accordance with Government Auditing Standards we have also issued our report dated March 15, 2001, on our consideration of the City's internal control over financial reporting and our test if its compliance with certain provisions of lawns, regulations, contracts and grants. That report is an integral part of an audit conducted in accordance with the standards applicable to financial audits contained in Government Auditing Standards, and in considering the results of the audit, should be read along with the independent auditors' report. Our audit was performed for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining and individual fund financial statements listed in the table of contents are presented for the purpose of additional analysis and are not a required part of the general purpose financial statements of the City of Elk River, Minnesota. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. March 15, 2001 Minneapolis, Minnesota 612.835.9090 + Fax 612.835.3261. ABDO, SICK & PtEYERS, LLP Certified Public Accountants