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I I I I I I I I. I I I I I I I. I 724 J Ohms Lane Suite 200 Edina, MN 55439 INDEPENDENT AUDITOR'S REPORT Honorable Mayor and City Council City of Arden Hills, Minnesota We have audited the accompanying general purpose financial statements of the City of Arden Hills, Minnesota, as of and for the year ended December 31, 2001 as listed in the table of contents. These general purpose fmancial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these general purpose fInancial statements based on QUI audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the staudards applicable to fmancial 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 fmancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose fmancial 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 tinancial statements referred to above present fairly, in all material respects, the fmancial position of the City as of December 31, 2001, and the results ofits operations and cash flows of its proprietary fund type for the year then ended, in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated April 10, 2002, on our consideration of the City's internal control over fInancial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance vvith Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. 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 and schedules listed in the table of contents are presented for the purpose of additional analysis and are not a required part of the general purpose fmancial statements of the City. Such information has been subjected to the auditing procedures applied in the audit of the general purpose fmaneial statements and, in Olir opinion, is fairly stated, in all material respects, in relation to the general purpose fmancial statements taken as a whole. April I 0, 2002 Minneapolis, Minnesota , ()14J Z,'JL ~ ~) LLP ABDO, EICK & ME~ER!, Li:"P Certified Public Accountants 952.835.9090 Fax 952.835.3261 I www.oemopas.com