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INDEPENDENT AUDITOR'S REPORT City Council and Residents City of Roseville Roseville, MinnesoYa PRINCIPA�S KENNETH W MALLOV, CPA TNOMASM.MONTAGUE,CPA THOMAS A. KARNOWSKI, CPA PAUL A. RADOSEVICH, CPA WILLIAM J. LAUER, CPA We have audited the general purpose financial statements of the City of Roseville, Minnesota, as of and for the year ended December 31, 1998, as listed in the table of contents. These general purpose financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Govemment AuditinQ Standards, issued by the Compffoller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Roseville, Minnesota, at December 31, 1998, and the results of its operations and cash flows of its proprietary fund type for the year then ended, in conformity with generally accepted accounting principles. As described in Note 2 to the financial statements, the City implemented Govemmental Accounting Standards Board Statement No. 31, Accountina and Financial Reporting for Certain Investments and for External Investment Pools during the 1998 fiscal year. In accordance with Government Auditine Standards, we have also issued our report dated April 1, 1999, on our consideration of the City of Roseville's intemal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grants. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining and individual fund statements as listed in the table oFcontents aze presented forpurposes of additional analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in our audit of the general purpose financial statements and, in our opinion, is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. The statistical information listed in the table of contents is not necessary for a fair presentation of the general purpose financial statements, but is presented as additional analytical data. This information is unaudited and we do not express an opinion on it. �� April 1, 1999 `:GERTIFIEb ��: .. ptJ6 IC .. ACGOVNTqNTS �t�„��, K��,'��.�,..;� � em., P � . 410 PHRN NATIONHI BHNK BUIL�ING 5353 WPV2ATN BOIILEVFftO MINNEAPOLIS, MINNESOTA 554i6 TELEPHONE:612 v45-0424 ^^ TELEFA%'.61254&0569 GG