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06-12-23-R
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06-12-23-R
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-1- <br />INDEPENDENT AUDITOR’S REPORT <br />To the City Council and Management <br />City of Arden Hills, Minnesota <br />OPINIONS <br />We have audited the accompanying financial statements of the governmental activities, the business-type <br />activities, each major fund, and the aggregate remaining fund information of the City of Arden Hills, <br />Minnesota (the City) as of and for the year ended December 31, 2022, and the related notes to the <br />financial statements, which collectively comprise the City’s basic financial statements as listed in the <br />table of contents. <br />In our opinion, the financial statements referred to above present fairly, in all material respects, the <br />respective financial position of the governmental activities, the business-type activities, each major fund, <br />and the aggregate remaining fund information of the City as of December 31, 202 2, and the respective <br />changes in financial position, and, where applicable, cash flows thereof, for the year then ended in <br />accordance with accounting principles generally accepted in the United States of America. <br />BASIS FOR OPINIONS <br />We conducted our audit in accordance with auditing standards generally accepted in the United States of <br />America and the standards applicable to financial audits contained in Government Auditing Standards, <br />issued by the Comptroller General of the United States. Our responsibilities under those standards are <br />further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our <br />report. We are required to be independent of the City and to meet our other ethical responsibilities in <br />accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence <br />we have obtained is sufficient and appropriate to provide a basis for our audit opinions. <br />EMPHASIS OF MATTER <br />Change in Accounting Principle <br />As described in Note 1 to the basic financial statements, in fiscal 2022, the City adopted new accounting <br />guidance, Governmental Accounting Standards Board (GASB) Statement No. 87, Leases. Our opinion is <br />not modified with respect to this matter. <br />(continued) <br />C E R T I F I E D <br />A C C O U N T A N T S <br />P UBLIC <br />PRINCIPALS <br />Thomas A. Karnowski, CPA <br />Paul A. Radosevich, CPA <br />William J. Lauer, CPA <br />James H. Eichten, CPA <br />Aaron J. Nielsen, CPA <br />Victoria L. Holinka, CPA/CMA <br />Jaclyn M. Huegel, CPA <br />Kalen T. Karnowski, CPA <br />Malloy, Montague, Karnowski, Radosevich & Co., P.A. <br />5353 Wayzata Boulevard • Suite 410 • Minneapolis, MN 55416 • Phone: 952-545-0424 • Fax: 952-545-0569 • www.mmkr.com <br />Standard Letterhead-r2.qxp_167639 Letterhead-RV1 9/7/18 6:34 PM Page 1
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