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<br />I <br /> <br />I. <br />I <br /> <br />. <br /> <br />. <br /> <br />I <br /> <br />. <br /> <br />. <br /> <br />. <br />.- <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />. <br /> <br />I <br /> <br />. <br /> <br />I. <br />I <br /> <br />I <br /> <br /> <br />Page Two <br /> <br />A material weakness is a condition in which the design or operation of one or more of the internal control components does not <br />reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the general purpose <br />financial statements being audited may occur and not be detected within a timely period by employees in the normal course of <br />perfonning their assigned functions, Our consideration of the internal control over fInancial reporting would not necessarily <br />disclose all matters in the internal control that might be reportable conditions and, accordingly, would not necessarily disclose all <br />reportable conditions that are also considered to be material weaknesses. However, we believe the reportable condition described <br />above is not a material weakness. <br /> <br />We also noted other matters involving the internal control over financial reporting that we have reported to management of the <br />City in a separate letter dated April I 0, 2002. <br /> <br />TIris report is intended solely for the information and use of the City Council, management and the Minnesota Office of the State <br />Auditor and is not intended to be and should not be used by anyone other than these specified parties, <br /> <br />April 10, 2002 <br />Minneapolis, Minnesota <br /> <br />()1;rJJJ) 1,'11 ~ MLfM)LLP <br /> <br />ABDO, EICK & MEYERS, LLP <br />CertifIed Public Accountants <br /> <br />-48- <br />