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PRINCIPALS <br /> Thomas A.Karnowski,CPA <br /> Paul A.Radosevich,CPA <br /> MMKRWilliam J.Lauer,CPA <br /> James H.Eichten,CPA <br /> C E R T I F I E D P U B L I C Aaron J.Nielsen,CPA <br /> ACCOUNTANTS Victoria L.Holinka,CPA/CMA <br /> Jaclyn M.Huegel,CPA <br /> Kalen T.Karnowski,CPA <br /> INDEPENDENT AUDITOR'S REPORT <br /> To the City Council and Management <br /> City of Ramsey,Minnesota <br /> OPINIONS <br /> We have audited the accompanying financial statements of the governmental activities,the business-type <br /> activities, each major fund, and the aggregate remaining fund information of the City of Ramsey, <br /> Minnesota (the City) as of and for the year ended December 31, 2021, and the related notes to the <br /> financial statements, which collectively comprise the City's basic financial statements as listed in the <br /> table of contents. <br /> In our opinion, the financial statements referred to above present fairly, in all material respects, the <br /> respective financial position of the governmental activities, the business-type activities, each major fund, <br /> and the aggregate remaining fund information of the City as of December 31, 2021, and the respective <br /> changes in financial position and,where applicable, cash flows thereof, and the budgetary comparison for <br /> the General Fund for the year then ended, in accordance with accounting principles generally accepted in <br /> the United States of America. <br /> BASIS FOR OPINIONS <br /> We conducted our audit in accordance with auditing standards generally accepted in the United States of <br /> America and the standards applicable to financial audits contained in Government Auditing Standards, <br /> issued by the Comptroller General of the United States. Our responsibilities under those standards are <br /> further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our <br /> report. We are required to be independent of the City and to meet our other ethical responsibilities in <br /> accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence <br /> we have obtained is sufficient and appropriate to provide a basis for our audit opinions. <br /> RESPONSIBILITIES OF MANAGEMENT FOR THE FINANCIAL STATEMENTS <br /> Management is responsible for the preparation and fair presentation of these financial statements in <br /> accordance with accounting principles generally accepted in the United States of America; and for the <br /> design, implementation, and maintenance of internal control relevant to the preparation and fair <br /> presentation of financial statements that are free from material misstatement, whether due to fraud or <br /> error. <br /> In preparing the financial statements, management is required to evaluate whether there are conditions or <br /> events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a <br /> going concern within 12 months beyond the financial statements date, including any currently known <br /> information that may raise substantial doubt shortly thereafter. <br /> (continued) <br /> Malloy, Montague, Karnow23 i, Radosevich & Co., P.A. <br /> 5353 Wayzata Boulevard • Suite 410 • Minneapolis, MN 55416 • Phone: 952-545-0424 • Fax: 952-545-0569 • www.mmkr.com <br />