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Honorable Mayor Members of the City Council and Citizens City of Oem. Lake Accounting principles generally accepted in the United States of America required that the budgetary comparison information as listed in the table of contents., be presented to supplement the basic. financial statements. Such 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 financial statements in an appropriate operational, economic,. 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 information 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. Wei 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. The City of Gem Lake has not presented the management's discussion and analysis that the Government Accounting Standards Board has. determined to be necessary to supplement, although not required to be part of, the basic financial statements.. 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 fund financial. statements., as listed in the table of contents., are presented for purposes of additional analysis and are not a required part of the basic. financial statements. The combining fund financial statements are the responsibility of management and were derived from and relate directly. to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the. underlying accounting and other records used to prepare the financial statements, or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the .United States of America. In our opinion, the information. is fairly stated in all material respects in relation to the basic financial statements taken as a whole. Minneapolis; Minnesota June14, 2012 zz Cli'fEonLarsonAll'en LLP (2)