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CEITIFLED PUBLIC ACCOUNTANTS INDEPENDENT AUDITOR'S REPORT To the City Council and Management. City of Ramsey, Minnesota REPORT ON THE FINANCIAL STATEMENTS PI UNC[PALS Thomas A. Kamnrrski, CPA Paul A. ltadoserith, CPA WIliatn j, Lauer, CPA jams H. Picthren, CPA Aaron J. Nielsen, Ct'A Victoria L. Halinka, C1WCMA We have audited the accompanying financial statements of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the City of Ramsey, Minnesota (the City) as of and for the year ended December 31, 2017, and the related notes to. the financial statements, which collectively comprise the City's ba.sio financial statements as listed. in the table of contents. MANAGEMENT'S, FOR THE FINANCIAL STATEMENTS Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America, this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether d!ie to fraud or error. AUDITOR'S RESPONSIBILITY Our responsibility is to express Opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Audio rg SSaadards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and diselasures the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the City's pn.paration and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion an the effectiveness of the City's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements, We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. (continued) Malloy, Montague, Karnowski, Radosevich 8t Co., RA. 5353 'Wayzata Boulevard • Suite 410 i Minneapolis, MN 55416 * Fhonr: J52-545.O4 Fax: 952-545-0569 t www.nmkr.com