2016 Financial Statements - Laserfiche WebLink

Home

Honorable Mayor - Members of .the City Council and Citizens bity *of Gem Lake, Mihnesota Opinions In our opinion, the financial statements referred to aboye present fairly,. in all material respects, the financial position of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the City of Gem Lake, Minnesota as of December .31, 2010, .and the respective changes in financial positloil-6rid.cash flows, where applicable, thereof for the -*year then ended in conformity with accounting principles generally accepted in the United States of America. Report on Summarized Comparative 1n1ormbAp# We have previously audited the City of Gem Lake's 2015 financial statements of the governmental activities, the business -type activities, each mafor furkd, and the aggregate remaining fund information, and we-ekpressed unmodified -audit opinions on those financial statements in our report dated May 10, 201E.In bur opinion, the summarized comparative information :presented herein as of and for the year ended December 31,.20'l5 is Consistent, in all material respects, With the audited financial statements from which it has been derived. .Mer-Matters Required Supplementary Information Accounting - principles generally -.accepted in the United Slates of America required that the budgetary .comparison information as listed in the table of contents; be presented to supplement the .basic financial statements. -Such inforration, although not a part of the. basic -financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part -of financial reporting for placing the: basic financial statements in an appropriate operational,. economlo,.*or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United. States of America,. which consisted of inquiries of management about the. methods of preparing the. inforration and .comparing the information for consistency with management's. responses to our -inquiries, the basic :financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not: express an opinion or provide any assurance on --the information because the limited procedures do not provide us with sufficient evidence to express -an opinion or provide any assurance. Management has. omitted the management's. discussion arid. analysis that accounting principles generally-aocopted in the United States of America. require to .he presented to supplement the basic financial statements. Such missing information,* although not. a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it -to be an essential part of financial reporting for placing the basic financlafstatements in an appropriate-opefations, economic, or historical context. Our opinion on the basic financial. statements is not affected by this missing information. Supplementary Information Our audit was conducted for the purpose- of .forming opinions on `the financial statements that collectively comprise the City's- basic financial statements. The accompanying combining nonmajor fund financial statements; ds listed in the: ble of -contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. M