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May 23, 1989 <br /> <br />PANNELL <br />KERR <br />FORSTER <br /> <br />Certified Public Accountants <br /> <br />400 Park National Bank Bldg. <br />5353 Wayzata Boulevard <br />Minneapolis, MN 55416 <br />Telephone (612) 545-0421 <br />Telefax 612-545-0569 <br /> <br />City Council and Residents <br />City of Ramsey <br />Ramsey, Minnesota <br /> <br />The following comments relating to your 1988 audit are provided to assist you <br />with the financial planning for your City and the continued improvement of your <br />accounting records. <br /> <br />Certificate of Achievement for Excellence in Financial Reporting <br /> <br />As you are aware, the City's 1987 Comprehensive Annual Financial Report <br />(CAFR) was awarded a "Certificate of Achievement for Excellence in <br />Financial Reporting" by the Government Finance Officers' Association <br />(GFOA). We wish to congratulate the City Finance Department management <br />and staff on this achievement. The Certificate Program recognizes the <br />highest standards of financial reporting, and the award reflects a great <br />deal of hard work and dedication by the City's personnel. We ~lso commend <br />the City's decision to participate in this program again this year, which <br />shows the City is committed to maintaining this level of excellence. <br /> <br />General Accounting System and Staffing <br /> <br />As commented in the past, we noticed a lack of availability and accuracy <br />of financial information on an interim or timely basis. During the year, <br />the City of Ramsey hired a new finance officer, but due to the timing of <br />her employment, loss of accounting and other City staff, and many other <br />unforeseen difficulties, we have seen little improvement in the general <br />accounting system. <br /> <br />Many accounting procedures were performed at the time of our audit which <br />should have been completed on a regular basis during the year. Examples <br />of these procedures include: allocation of tax and special assessment <br />revenue, allocation of insurance expense, following up on unpaid accounts <br />receivable, and others. As stated in the past, this practice results in <br />inaccuracies in interim financial data, potential losses to the City, <br />increased risk of accounting errors, and decrease of internal controls. <br />Accurate and timely information is essential for management to make effec- <br />tive decisions and to anticipate financial needs and problems. <br /> <br /> <br />