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October 9, 19S7 <br /> <br />Mr. Noel J. Graczyk, Finance Director <br />City of Ramsay <br />15153 Nowthen Boulevard Northwest <br />Ramsay, Minnesota 55303 <br /> <br />RECF_ vEB <br />OCT <br /> <br />PANNELL <br />KERR <br />FORSTER <br /> <br />Certified Pub,.c Accountants <br /> <br />410 Park National Bank Bldg. <br />5353 Wayzata Boulevard <br />Minneapolis. },*.", 55416 <br />Telephone (612) 545.0421 <br /> <br />Dear Mr. Graczyk: <br /> <br />This letter is to explain our understanding of the arrangements for the services <br />we are to perform for the City of Ramsey for the year ending December 31, 1987. <br />We ask that you either confirm or amend that understanding. <br /> <br />We will perform an examination of the City's financial statements. The purpose <br />of our examination is to express an unqualified opinion on the fairness of the <br />presentation of the City's financial statements for the year ending December 31, <br />1987, in conformity with generally accepted accounting principles applied on a <br />consistent basis. If we discover that we cannot issue an unqualified opinion, <br />we will discuss the' reasons with you before submitting a different kind of <br />report. <br /> <br />As you know, management has the primary responsibility for properly recording <br />transactions in the records, for safe,carding assets, and for preparing accurate <br />financial statements. Our basic audit function is to add reliability to ~qose <br />financial statements. <br /> <br />Our exar. inaticn~..':~ ..... be cc~,~__~ in accordance with cetera!iv acceDte~_ audltinc <br />stan~arcs. 5c %'ill include a revi~' c= ~%~ svst_m of internal <br /> <br />transactions an~ is not des'~nel us ~isrcver ~efalcatisns cr c~er irrerzlari- <br />==~-ices in this re,ara, %~5~ letter cf underst~niiQg ~-ill require re'.-/sicn. <br /> <br />As a res'alu cf cur re:'ie'.- cf your sysc_r, cf intern~-i -cCcunuin? control, '~'e will <br /> <br />five main ~a-~c~'~s ~= ~--iiance .... ~ ~ ..... ~^-- La~-s tc b~ test~ and prepare <br />a re,crt on cur findlncs. ~ar test!ns crosedures "ill ~cm~!v with ~rovlsicns cf <br />the-= -' ~--~c~. ...... _ fiance Au~t'' =u~ 'd=~ pursuant tc ~'~nnascta St-tufas= ~=c. 6.65. <br /> <br />will also oerfcrm ar. -"~- --' -'=~=~-~ =" .... :~ -=:!stance ' ' <br /> <br /> ~n the Sincie Audi% Act -~cu~=ment= anc ~rovlde the ccrresDcn~inc <br /> <br /> <br />