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Certified IPublic Accoun <br />The;H <br />diem6 <br />City <br />We h, <br />&osev <br />issue <br />We co� <br />PART `OF AN F <br />�rable Mayor and <br />s of the City Council <br />$oseville, Hiaaesota <br />sudited the ge: <br />�e, 8aseville, Mim <br />�ur report thereoa <br />ral purpose finaacial statemenes of <br />sota, for Ghe year ended December 31, <br />lated March 25, 1992. <br />PI <br />city of <br />aad have <br />aacordance with genarally accepted suditing standards; <br />rc ,, issued by the Comptrollar Geaeral of the Uaited <br />requize that we plaa aad perform the audit to o6tain <br />whether the financial statements are free of material <br />.ng and perfoxming our audits for the year e <br />sd >the city's intezaal control structssre i <br />procedures for the purpose of ezpressing c <br />. statements aad not� to provide assurance <br />d Decembez 31, 1991, ve <br />order to detezmine our <br />opiaioas oa the ciey's <br />i the interaal coatrol <br />: af Boseville, Minaesota is respoasible for establishing aad <br />interaal control structure. In fulfilling this responsibility, <br />judgments by management ara required ta assess the ezpected <br />slated costs of intemal control structura policies aad procedures. <br />lof aa intarnai coatrol structura are to provide managemene with <br />t`not absolute, assuraace that assets are safeguarded against loss <br />ized use or disposition, that transactions are executed in <br />h management's auchorizatioa and recorded properly to permit the <br />general-purpose financial statements in accordance vith generally <br />ating principles. Because of inherent limitations ia aay interaal <br />ure, 'errors, irregularities, or instaaces for noacompliaace may <br />ccur aad aot be detected. Also, projection of any evaluation of <br />:o future periods is subject to the risk that procedures may become <br />ause of changes in coaditions or that the effectiveness of the <br />ration af policies aad proeedures may deteriorace. <br />For the purpose of this report, ve have <br />control structure;policies and procedures <br />City Cycles and Segments <br />♦ Bevenue <br />♦ &aceipts <br />• Expenditures/expense <br />1 Financing <br />1 Financial reporting <br />10 <br />classified the significant internal <br />in ehe folloaing categories: <br />