Agenda - Council - 05/25/1982 - Laserfiche WebLink

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I I I i I I I I I I I I I I I DELOITTE HASKINS & SELLS: In connection with your examination of Ihe balance sheel of Minnesota Fom~ 3270 [6-78) the City of Ramse~¥, ("lhe Company") as of DecembeP 31~ 1981 and lhe relaled statements of revenues, expenditures and of changes in fund balance for the year then ended for the purpose of expressing an opinion as to whether the financial statements presenl fairly the financial position, results of operations, and changes in financial position of the Company in conformity with generally accepted accounting principles, we confirm, to the best of our knowledge and belief, the following representations made to you during your examination. To avoid Ihe necessity of reporting items that are cle.arly insignificant, matters, except those relating to Items 1, 2, and 3a, not exceeding $ 5 ~ 000 collectively have not been considered to be excep- lions for the purpose of the,se represenlations. This amounl is not necessarily indicalive of amounts lhat would require adjuslment Io, or disclosure in, the financial statements. 1. We are responsible for the fair presentation in the financial statements of financial position, results of operations, and changes in financial position in conformity with generally accepted accounting principles. 2. The Company has made available to you: a. All financial records and related data. b. All minutes of the meetings of the Citj Councll mafias of actions of recent meetings for which minutes have not yet been prepared. 3. There have been no: a. Irregularities involving management or employees who have significant roles in the system of internal accounting control, except as follows: ]',]one Irregularilies involving other employees lhat could have an effect on the financial statements, except as follows: None or sum- Communications from regulatory agencies concerning noncompliance with, or deficiencies in, financial reporting practices that could have an effect on the financial statements, except as follows: N one The Company has no plans or intentions that may affect the carrying value or classification of assets and liabilities, except as follows: N one The following have been propedy recorded or disclosed in the financial statements: a. Relaled party transactions and related amounts receivable or payable, including sales, pur- chases, loans, transfers, leasing arrangements, and guarantees. b. Capita! stock repurchase options or agreements or capital stock reserved for options, war- rants, convemions, or other requirements. '~one c. Arrangements with financial instilutions involving compensating balances or other ar- rangements involving restrictions on ca.sh balances and line-of-credit or similar arrangements. No~e d. Agreements to repurchase assets previously sold. L~one