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Lars•nAlleri <br />LLP <br />CPAs, Consultants & Advisors <br />www,larsonallert.com <br />REPORT ON MINNESOTA LEGAL COMPLIANCE <br />Honorable Mayor, Members of the. <br />City Council, and Citizens <br />City of Gem Lake, Minnesota. <br />We have audited the financial statements of the governmental activities, the business -type activities, <br />each major fund, and the aggregate remaining fund information of the City of Gem Lake, Minnesota, <br />which collectively comprise the City's basic financial statements as of and for the year ended <br />December 31, 2008, and have issued our report thereon dated April 24, 2009. <br />We conducted our audit in accordance with U.S. generally accepted auditing standards and the <br />provisions of the Minnesota Legal Compliance Audit Guide for Local Government, promulgated by the. <br />State Auditor pursuant to Minn. Stat. §6.65. Accordingly, the audit included such tests of the accounting <br />records and such other auditing procedures as we considered necessary in the circumstances. <br />The Minnesota Legal Compliance Audit Guide for Local Government covers seven main categories of <br />compliance to be tested: contracting and bidding, deposits and investments, conflicts of interest, public <br />indebtedness, claims and disbursements, miscellaneous city provisions; and tax increment financing <br />districts. Our study included all of the listed categories except for tax increment financing districts <br />because the City has no tax increment financing districts. <br />The results of our tests indicate that, with respect to the items tested, the City of Gem Lake, Minnesota <br />complied with the material terms and conditions of applicable legal provisions, except as noted in the. <br />schedule of findings as 2008-2. <br />This report is intended solely for the information and use of management, the City Council, the Office of <br />the State Auditor, and other state agencies, and is not intended to be and should not be used by <br />anyone other than these specified parties. <br />�I_P <br />LarsonAilen LLP <br />Minneapolis,. Minnesota <br />April 24, 2009 <br />{33) <br />if LarsanAlllen LLP is.a member nf-Nekia lntematiiinsId, a worldwide network of independent. accounting and consulting Firms. <br />INTERNATIONAL <br />