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CCP 05-15-2006
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CCP 05-15-2006
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<br />. <br /> <br />. <br /> <br />. <br /> <br /> <br />Certified Puhlic Accoumants & ComulUmLs <br /> <br />April 14,2006 <br /> <br />Grand~.jew Square <br />5201 Eden AVt::IlIlP. <br />Suite 370 <br />Edina, MN .55436 <br /> <br />Honorable Mayor and Council <br />City of Arden HiIls, Minnesota <br /> <br />We have audited the financial statements the governmental activities, the business-type activities, each major fund and the <br />aggregate remaining fund information of the City of Arden Hills, Minnesota (the City), for the year ended December 31,2005 <br />and have issued our report thereon dated April 14,2006. Professional standards require that we provide you with the following <br />information related to our audit. <br /> <br />OUf Responsibility Under Auditing Standards Generally Accepted in the United States of America <br /> <br />As stated in our engagement letter, OUf responsibility, as deSlTIbed by professional standards, is to plan and perform our audit to <br />obtain reasonable, but not absolute, assurance that the financial statements are 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 ofal! <br />transactions, there is a risk that material errors, fraud or illegal acts may exist and not be detected by us. <br /> <br />In planning and performing our audit of the financial statements ofthe City, for the year ended December 31,2005, we <br />considered its internal controlin order to determine our auditing procedures for the purpose of expressing our opinion on the <br />financial statements and not to provide assurance on the internal control. However, we noted certain matters involving the <br />internal control and its operation that we consider to be reportable conditions lll1der standards established by the American <br />Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant <br />deficiencies in the design or operation ofintemal control that, in our judgment, could advt.'Tsely affect the City's ability to record, <br />process, summarize, and report financial data consistent with the assertions of man agement in the fi.nancial statements. We noted <br />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, the City had limited segregation of <br />duties for a portion of2005. Goodintemal control contemplates an adequate segregation of duties so that no one individual <br />handles a transaction from inception to completion. \Vith the prosecution of a fanner City employee for misappropriation of <br />assets and reorganization of job responsibilities, we believe that this issue has been remedied as of year end. <br /> <br />^ 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 that errors or fraud in amounts that would be material in relation to the financial <br />statements being audited may occur and not be detected within a timely period by employees in the normal course ofperforrning <br />thelr 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 />952.835.9090 ~ Fax %2.835.3261 <br /> <br />www.aelllepas.com <br />
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