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Cli€tonLarsonAllen LLP } CLAconnect.eom CliftonLars®nAllen INDEPENDENT AUDITORS' REPORT Honorable Mayor Members of the City Council and Citizens City of Gem.. Lake. Gem Lake, Minnesota Report on the Financial Statements We have audited the accompanying financial. statements. of the governmental activities, the business- type.activities,-each-major fund, arid- the. agg reg ate remaining fund information of the City of Gem Lake (the City};'Minnesota as of --and for the year ended December 31, 2016, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the table of -contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these. financial statements in .accordance with accounting principles generally accepted in the United States of America; this includes the. design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express opinions on these -financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial.oudits 4:�dntained 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 financial statements are free from material misstatement. An audit'involves performing -procedures :to obtain audit evidence about the amounts. and disclosures in the financial statements.. The procedures selected depend on the auditors', judgment,, including ifie assessment of the j'isks of rtiaterial misstatement of the financial statements, whether.due to fraud or error. in making #hose risk assessments, thp. auditor considers internal control relevant to the 6WA preparation and fair presentation* of-thefinancial statements in order to design audit procedures -that are appropriate. -in the *circumstances, but not*fbr-tFie putpOse of expressing .an opinion on the effectiveness of the City'�s internal control. Accordingly, we express no such opinioli. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our -audit opinions. c muer of Nexia {1}