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OTHER OBSERVA'r[O,NS AN REcomrsIENDATIONS Unclaimed Property Tli.e City did not file an unclaimed property report to the state of Minnesota prior to the.. -deadline for reporting. We recommend the City file this report on a timely basis in the future. Withholding Tables During the testing.afthe.payroll transactions, we noted the City used payroll tax. withholding tables that are provided by•tlte state of Minnesota and the internal Revenue Service that were not current and up-to-date. We recommended .that the City work with.. its software provider to ensure current rates. and amounts amwilbhold from employee paychecks as part of payroll related transactions in the fitture. SIGNIMAN'r ACCOIJNTING•POLICIES Management is. responsible.for *the selection and use of -appropriate: accounting policies. The significant accounting. policies used by the City are described in Note.1 of the notes to basic financial statements. No new accounting policies were adopted, and the application .of existing -policies was not changed during -the year•ended.December 3 T, !L24. Vc noted no transactions entered into by. the City during the year for which• there. is.a. lack of author..itatjtre guidance or consensus: All significant transactions have been recognized in the financial statements in the proper period. ACCOUNTING E$TIMAT.ES .AND MANAGEMENT RIDGMENTS• Accounting estimates are an integral part of the financial statements prepared by management and are based on management's knowledge and experience about -past and current events and assumptions about future events. Certain. accounti.ng estimates are•particularly sensitive. because of their significance` -to the financial statements and because of the possibility. • that future events affecting them may differ significantly from those -expected.-'The. most sensitive estitnate aMct'ing the fnancial statements. was: The- depreciafion of capitat assets involves estimates. pertaining to useful lives.. We•evaluated the key factors and assiimptioits used •by management to develop these• accounting estimates in deterininirig that they are reasonable in relation to the.basic financial statements taken.as a:whole. The financial statement disclosun�s are neutral, consistent, and clear. DIFFICGLTIE5•ENC0UNTEREb•1N PERFORMING THE AUDIT We encountered no significant difficulties in dealing with management in•perfotinlrig and completing. oar audit. CORRECTED AND UNCORRECTED.MiSSTATEMENTS Professional standards require us to accumulate -all known and likely tnisstatements: dentified .during the audit. other than those that .are. clearly trivial,. and communicate them to the appropriate level of management. Management has corrected all such misstatements. -2-