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CCP 05-13-2002
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CCP 05-13-2002
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<br />, <br /> <br /> <br />Certified Puhlk Acc",mlants & ConsultmUs <br /> <br />April 10, 2002 <br /> <br />7241 Ohms Lane <br />Suite 200 <br />Edina, MN 55439 <br /> <br />Members of the City Council <br />City of Arden Hills, Minnesota <br /> <br />We have audited the general purpose financial statemems of the City of Arden Hills for the year ended December 31, 2001 and <br />have issued our report thereon dated April 10, 2002. Professional standards require that we provide you with the following <br />information related to our audit. <br /> <br />Our Responsibility Under Auditing Standards Generally Accepted in tbe United States of America and Government <br />Auditing Standards <br /> <br />As stated in our engagement letter, our responsibility, as described by professional standards, is to plan and perform our audit to <br />obtain reasonable, but not absolute, assurance that the financial statements arc free of material misstatement and are fairly <br />presented in accordance with accounting principles generally accepted in the United States of America. Because an audit is <br />designed to provide reasonable, but not absolute, assurance and because we did not perform a detailed examination of all <br />transactions, there is a risk that material errors, fraud or illegal acts may exist and not be detected by us. <br /> <br />. <br /> <br />In planning and performing our audit of the general purpose financial statements of tbe City for the year ended December 31, 2001 <br />we considered its internal control in order to determine our auditing procedures for the purpose of expressing our opinion on the <br />general purpose financial statements and not to provide assurance on the internal control. However, we noted certain matters <br />involving the internal control and its operation that we consider to be reportable conditions under standards established by the <br />American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to <br />significant deficiencies in tbe design or operation of internal control that, in our judgment, could adversely affect the City's ability <br />to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose <br />financial statements. We noted the following reportable condition. <br /> <br />Segregation of Duties <br /> <br />Our study and evaluation disclosed that because of the limited size of your office staff, your City has limited segregation of <br />duties. Good internal control contemplates an adequate segregation of duties so that no one individual handles a transaction <br />from inception to completion. While we recognize that your City is not large enough to permit an adequate segregation of <br />duties in all respects, it is important, however, that you be aware of this condition. <br /> <br />A material weakness is a reportable condition in which the design or operation of one or more of the internal control components <br />does not reduce to a relatively low level the risk tbat errors or fraud in amounts that would be material in relation to the general <br />purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal <br />course of performing their assigned functions. <br /> <br />Our consideration of internal control would not necessarily disclose all matters in internal control that might be reportable <br />conditions and, accordingly ~ would not necessarily disclose all reportable conditions that are also considered to be material <br />weaknesses as defined above. However, the reportable condition described above is not believed to be a material weakness. <br /> <br />As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we performed <br />tests of compliance with certain provisions of laws, regulations, contracts and grants. However, the objective of our tests was not <br />to provide an opinion on compliance with such provisions. We noted no noncompliance with provisions of laws, regulations, <br />contract and grants. <br /> <br />. <br /> <br />952.835.9090 Fax 952.835.3261 <br /> <br />www.aemcpas.com <br />
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