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tl*,.!�A CliftonLarsonAllen INDEPENDENT AUDITORS' REPORT CliftonLarsonAllen LLP Wconnectcom Honorable Mayor Members of the City Council and Citizens City of Gera Lake Gem Lake, Minnesota Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business - type activities, each major fund; and the aggregate remaining fund information of the City of Gem Lake. (the City):, Minnesota as of and for the year ended December 31, 2016, and fit e. related notes to the financial statements, which collectively comprise the City's.basic financial state-ments as listed in. the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in tl e.,United States of America; this includes the design, implementation, and Maintena'rice'af .internal contrpt,;relevant to the preparation and fair presentation of financial statements that are ftee'frorn material misstatement, whether due to fraud or error. u itors' Responsibility ........:.: Our responsbility is to expressopinions. on these financial statements based on our audit.. We conducted our audit in accordance witii 'auditing standards generally accepted in the United .States of America and the standards applicable to financial audits contained in Govemment Auditing Standards; issued by the Comptroller, General. of the; United_ States. Those: standards require that. we plan and perform the audit to obtain reasonai?le assurance`a-bout whether the financial statements are free from material misstatement: An.audit involves perforrning,procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The`. -procedures selected depend on the auditors' judgment, including the assessmeritbf the risks of material misstatement of the financial statements,. whether due to fraud or error. In making those risk. assessments, the auditor considers internal control relevant to. the Citys preparation ancf fair presentatign`of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal; control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of . accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements: We believe that the audit evidence we have. obtained is. sufficient and: appropriate to provide a basis for our audit opinions. !, l Mirdertl menYief dlioa3inrnarm 3 d 7L6.M1' -[i B,v'AL