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AUDIT SUMMARY The following is, a.:summary of our audit work. key conclusions, and other information that we consider important or that is. required to bc• communicated to the City Council, adininistration, or those charged f with governance of the City. l ~- U4R RESPONSIBILITY UNDER AUDITING. STANDARDS GENERALLY ACCEPTED: IN THE UNITED I STATES OF.AMERICAAND Goi,ERN,4fEN7AtlDirlNGSrAIvDARDS We have audited the financial statements of the governmental activities, the business -type activities. and each major fund of the: City as of and for the year ended ]December 3.1, 2024. Professional standards require that we provide:yoir*with information about our respdiisibilities under auditing standards generally accepted irT :the United States of America and Government Auditing Stcwdrneli ., as -well as certain: information related to the planned. scope and timing of bur audit. We have communicated such information -to you verbally, in. our audit engagement letter-: Professional. standards%also require that we commutiicate the following infQrmation.related to our audit. PLANNED SCOPE AND TIMING oF.TAEAum We pej-formedthe audit according -to the planned scope and timing previously discussed and coordinated. in order to obtaiin.suffcient audit*evidence�ind complete:an effective audit. AIM IT. OPINIONS•AND FINDING$. Based on our audit of the City's financial stateiitents for the year ended December 3.1. 2014: • We have issued unmodified opinions on the City's basic financial statements. We .reported two deficiencies inf the- City's internal control over .financial reporting that we. considered to be a material weakness and a significant deficiency: 1. Due to the limited size of the City's office staff, the City -has limited segregation of duties in certain areas: w. The City completed a software conversion to a -new accounting system in tiie * current year. Daring. our testing. of this conversion to the new accounu.jig system, -we: noted certain detailed transaction information is.pp.longer available to the. City. We;ai$o noted during our testing, the City reported an:erxor correction to beginning -net position balance in the. Sewer Enterprise Fond since the ending balances of the previous accounting- •systein did not agree to the beginning balances in the new accosting system in. this fund. • The results of our testing'disciosed no -instances of noncompliance-regtiired to lie reported under Got-erinnew Auditing Sncmtlurds, • We reported no findings. based on our testing of the City's compliat ee-with Minnesota laws and regulations.