07-14-1986 Council Packet - Laserfiche WebLink

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PANNELL KERR FORSTER Certified Public Accountants 410 Park National Bank Bldg 5353 Wayzata Boulevard Minnear—lis. MN 55416 Telepho,,e (612) 545-0421 To the City Council and Residents City of Orono Orono, Minnesota We have examined the general purpose financial statements of the City of Orono, Mi. esota, for the year ended December 31, 1985, and have issued our report thereon dated May 28, 1986. Our examination was made in accordance with generally accepted auditing standards and the standards for financial and compliance audits contained in the Standards for Audit of Governmental Organizations, Programs, Activities, and Functions, issued by the U.S. General Accounting Office, and tie provisions of the Legal Compliance Audit Guide pro- mulgated by the Legal Compliance Task Force pursuant to Minnesota Statutes Sec. 6.65, and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. COMPLIANCE WITH LAWS AND REGULATIONS WHICH COULD HAVE A MATEF. ?FFECT C THE GENERAL PURPOSE FINANCIAL STATEMENTS / The management of the City of Orono is responsible for the City's compliance with laws and regulations. In connection with our examination referred to above, we selected and tested transactions and records to determine the City's compliance with laws and regulations noncompliance with which could have a material effect on the general purpose financial statements of the City. The results of our tests indicate that for the items tested, the Citv of .` Orono, Minnesota, complied with those provisions of laws and regulations noncompliance with which could have a material effect on the gener,-1i purpose i financial statements. Nothing name to our attention that caused us to believe that for the items not tested the City was not in compliance with laws or regulations noncompliance wit}. which could have a material effect on the City's general purpose financial statements. COMPLIANCE WITH MINNESOTA STATE LAWS The Legal cc,mPliance Audit Guide covers five main 'egories of compliance to be tested: contracting and bidding, deposits anu investments, conflicts indebtedne-_.1G, and claims and disbursements. Our study of interest, publ-c included all of the listed cat, ;ries. The results of our tests indicate that for the items tested, the City of Orono complied with the material legal hr isions, except as follows: terms and conditions of applicable - 63 -