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Memo <br />City Council <br />2012 Financial Statements <br />Page 2 <br /> <br /> <br /> <br /> <br /> <br />As a note of information, the Auditing Standards are constantly increasing and changing. With <br />these changes, you will see increased findings. This does not mean that the City has done <br />anything wrong compared to previous years, only that the reporting requirements have become <br />much stricter. Many cities are experiencing these findings, and the findings are expected to <br />increase for all cities as these standards become stricter. We continue to have the finding related <br />. <br />our size. Staff continues to review and make improvements to its internal control structure on an <br />ongoing basis and attempts to maximize the segregation of duties in all areas within the limits of <br />the staff available. We are pleased with the outcome of the audit. <br /> <br />Staff Recommendation: <br /> <br />At the June 24, 2013 meeting, staff will recommend a motion to accept the 2012 Financial <br />Statements for the City of Arden Hills as presented. <br /> <br />