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1 1 K 0 V IIII Expert advice. When you need it.", INDEPENDENT AUDITOR'S REPORT I Honorable Mayor and Members ( ' of the City Council City of Roseville 1 Report on the Financial Statements We have audited the accompanying fmancial statements of the governmental activities,the business- , type activities, the discretely presented component unit, each major fund and the aggregate remaining j fund information of the City of Roseville, Minnesota, as of and for the year ended December 31,2014, and the related Notes to the Financial Statements,which collectively comprise the City's basic financial Istatements as listed in the Table of Contents. Management's Responsibility for the Financial Statements (- I Management is responsible forthe preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair I presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility IOur responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of I America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. I An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or I error. In making those risk assessments,the auditor considers internal control relevant to the City's preparation and fair presentation 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 I 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 I statements. Expert advice.When you need it.cm St.Cloud Twin Cities www.kdv.com 220 Park Avenue S. 3800 American Boulevard Certified Pub!ic Accountants P.O.Box 1304 W. Toll Free I . Wealth Management St.Cloud,Minnesota Suite 1000 877.912.7696 Payroll Services 56302 Minneapolis,Minnesota Business Valuations Phone:320.251.7010 55431 Technology Help Desk Technology Services Fax:320.251.1784 Phone:952.563.6800 866.400.6426 IFax:952.563.6801 11