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7550SumwvoodDrive NW 9 Ramsey, Minnesota 55303 City Hall: 7W3-427-1410pFax: 763-427-5543 June 13,2023 Honorable Mayor and Members o[tile City Council City of Ramsey, Minnesota ThouonuulcompnnhmmkeDnonuia|ropmrtu[dxeChxo{Ramney,Mionomotu(dleCity)fx the fiscal year ended [}econhcr 31, 2022 in hereby submitted. Management usa/mou fo|\ responsibility for the onoop|otcuoos and reliability of the iotnnnubon contained in this nnpm1' based upon o comprehensive framework n[internal control that ithas established for this purpose. Because tile cost ofinternal control should not exceed anticipated buuu-fito, the objective is to provide reasonable, rather than ubxuk/to, assurance that the financial statements are free o[uny m/kuhu| miox(uteromVn. To tile best o[ourknowledge and hohnf, the enclosed data is accurate in all 000todo| respects and is reported in omanner designed to prosunt/ah1ythofiuoncin\position and results ofoporudonaofthoCity. A||dioo|oxurcxncueoxu/*ytncnoh|e the reader to gain all Understanding of the City's financial activities have been included. Minnesota Statutes and the City Charter require ail an000| audit ofall 000000tx, financial records, and (runxuc{iouo o[ the City by independent certified public accountants. The accompanying financial oin<onnmntp have been audited by the fino of Malloy, Montague, |{amno*mki` Rndnsnviub/b Co, P.A., Independent Certified Public /\coouuiun(o. The firm is engaged by the City Council to render ail opinion oil tile City's financial statements in accordance with accounting principles generally accepted in tile United States of&nncriom,and all unnnndiDcdopinion has been issued. The independent auditor's report iolocated u1tile front oythe 0mnoiu| section ufthis report. generallyAccounting principles in tile United States ofAmerica i that management provide a narrative introduction, overview, and analyis to accompany the basic financial statements ill tile form of Management's Discussion and Analysis (MD&A). This letter of transmittal is designed to complement tile MD&A and should be read in conJunction with it. The City's MD&A call be found immediately following the report of tile auditors. PROFILE OF THE CITY Ramsey iulocated ill the Southwestern part ofAnoka County and insituated approximately 25 miles bnnn Minneapolis. The City has 2#O square mileswithin its corporate boundaries and isbordered hvtwo ou jnr rivers, the Mississippi River along the southern border and (he Kum River along the eunL Numnoy was incorporated as u city in 1974` and is organized as o Bnruc Rule City Under a City Cbu,|or originally adopted in 1984. Tile City Council consists of a Mayor and six Councilmembers, and is elected oil unonpartisan basis, Elections are held ill November ofeach even numbered year. The terms o[office are four years fbi- the Mayor and four years for Councilmembers. The City Council is responsible for enacting ordinances, resolutions, and regulations governing the City, and appointingthe City Administrator, City Attorney, and members of the various advisory boards and commissions. Because the City Council acts as the Board of Directors of the Ramsey Economic Development Authority (EDA) this organization is included as a blended component unit in these (Inancial statements. 15