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LarsonAllen" <br />LLY <br />CPAs, Consultants & Advisors <br />www.larsonal len.com <br />REPORT ON NiINNESOTA LEGAL COMPLIANCE <br />Honorable Mayor, Members oft . he <br />City Council, and Citizens <br />City of Gem Lake, Minnesota <br />We have audited the financial statements of the governmental activities, the business type activities, <br />each major fund, and the aggregate remaining fund information of the City of Gem Lake, Minnesota, <br />which collectively comprise the City's basic financial statements as of and. for the year ended <br />December 31,..2010, and. have issued our report thereon dated June 13,. 2011. <br />We conducted our audit in accordance with. U.S. generally accepted auditing standards and the <br />provisions of the Minnesota Legal Compliance: Audit Guide for Political Subdivisions, promulgated by <br />the State. Auditor pursuant to Minnesota Statutes §5.65. Accordingly, the audit included such tests of <br />the accounting records and such other auditing procedures as we considered necessary in the <br />circumstances.. <br />The Minnesota Legal Compliance Audit Guide for Political Subdivisions covers seven main categories <br />of compliance to bei tested: contracting and bidding, deposits and investments, conflicts of interest, <br />public indebtedness, claims and disbursements, miscellaneous city provisions, and tax increment <br />financing .districts. Our study included. all of the listed categories except for tax increment financing <br />districts because the City has. no tax increment financing districts, <br />The results of our tests indicate that, with respect to the items tested, the City of Gem Lake, Minnesota <br />complied with the material terms and conditions of applicable legal provisions. <br />This report is intended. solely for the information and use of.managerpent, the City Council, the Office of <br />the. State Auditor, and other state agencies, and is not intended to be and should not be used by <br />anyone other than these specified parties. <br />Minneapolis, Minnesota <br />June 13, 2011 <br />LarsonAllen LLP <br />t (33) <br />An independent inerribder 6f alexia International <br />[NTCRNATfONAL. <br />