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PANNELL <br />KERR <br />FORSTER <br />Certified Public Accountants <br />410 Park Nauonal Bank Bldg <br />5353 Wayzata Boulevard <br />Minneapolis MN 55416 <br />Telephone (612) 545-0421 <br />To the City Council and Residents <br />City of Orono <br />Orono, Minnesota <br />We have examined the General Purpose Financial Statements of the City of Orono, <br />Minnesota, as of and for the year ended December 31, 1985, as listed in the <br />index. Our examination was made in accordance with generally accepted auditing <br />• <br />standards and, accordingly, include(' :h tests of the accounting records and <br />such other auditing procedures as wE .,)nsidered necessary in the circumstances. <br />In our opinion, the General Purpose Financial Statements referred to above pre - <br />A sent fairly the financial position of the City of Orono, Minnesota, at <br />December 31, 1985, and the results of its operations, changes in fund balances, <br />and changes in financial position of the Proprietary Fund T:pes for the year <br />then ended, in conformity with generally accepted accountii(,j principles applied <br />on a basis consistent with that of the preceding year. <br />Our examination was made for the purpose of forming an opinion on the Ge- ral <br />Purpose Financial Statements taken as a whole. The accompanying informa- in as <br />listed in the index is presented for purposes of additional analysis and is not <br />a required part of the General Purpose Financial Statements. Such information <br />has been subjected to the auditing procedures applied in our examination of the <br />General Purpose Financial Statements and, in our opinion, is fairly stated in <br />all material respects in relation to the General Purpose Financial Statements <br />taken as a whole. <br />• May 28, 1986 <br />Certified Public Accountants <br />- 2 - <br />