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COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE <br />To the Honorable Mayor and <br />Members of the City Council <br />City of Roseville, Minnesota <br />We have audited the financial statements of the governmental activities, the <br />business-type activities, each major fund, and the aggregate remaining fund <br />information of the City of Roseville, Minnesota for the year ended December 31, <br />2023. Professional standards require that we provide you with information about our <br />responsibilities under generally accepted auditing standards, Government Auditing <br />Standards and the Uniform Guidance, as well as certain information related to the <br />planned scope and timing of our audit. We have communicated such information in <br />our letter to you dated March 29, 2024. Professional standards also require that we <br />communicate to you the following information related to our audit. <br />Significant Audit Matters <br />Qualitative Aspects of Accounting Practices <br />Management is responsible for the selection and use of appropriate accounting <br />policies. The significant accounting policies used by the City of Roseville, Minnesota <br />are described in Note 1 to the financial statements. No new accounting policies <br />were adopted and the application of existing policies was not changed during 2023. <br />We noted no transactions entered into by the City of Roseville, Minnesota during the <br />year for which there is a lack of authoritative guidance or consensus. All significant <br />transactions have been recognized in the financial statements in the proper period. <br />Accounting estimates are an integral part of the financial statements prepared by <br />management and are based on managementÓs knowledge and experience about <br />past and current events and assumptions about future events. Certain accounting <br />estimates are particularly sensitive because of their significance to the financial <br />statements and because of the possibility that future events affecting them may <br />differ significantly from those expected. <br />The most sensitive estimates affecting the City of Roseville, MinnesotaÓs financial <br />statements are the: <br />estimated present value of the lease receivable <br />estimated present value of the lease liability <br />555thStreetEast,Suite1400,St.Paul,MN,55101651.426.7000www.redpathcpas.com <br />11 <br />Qbhf!287!pg!494 <br /> <br />