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7.550 Sunwood Drive NW • ...R.amsey.,, Minnesota 55303 City !daft 763-427-.1410 • Fax: 763-4.27-5543 www .ciiyo,fra 1111Sey coati May 2 , 2018 lionorable ,M ayor and NI embers of Me ity Connei City of Ram.sey, Minnesota 'Idle comprehensive nnuaI i n. nc a. II report (('A FR.) of t (ty of' Rime, 'M nnesota (the C hty:" the fiscal year ended Deceiniter 31, 20.17 is horeliy submitted. Mar lager:Fiera assumes fit.tii respous hi lay for the completeness and relinhillty 0.1' the information contained in this epint, hirsed upon a. .ctimprellicrisive fiiinliework of internal oc„,ntiroithat it. lias ,established lam this purpose. .E3ecause the cost of internal control shouid not exceed anticipated benefits, the objective is to provide reasonable, rather thao absolute,. aSSUrallte th at t he flraiiciaU statements are free of ,any rot ate Ha 1 m isistateinents. To the best (.4 imir knowledge and 'belief the. enclosed data is 'a coiwate ii a.11 niaterial. respects and is reported in. a [mintier designed to present tidily the .finaticial position and resuks otoperations of thie ity. All diselbsures 'necessary to enable the reader to gain an understanding of thc cjty's naneia.1 activities have been ,indialed. MinnesotaStat tiles and the City Charter require an .annunt audit of all c UitS, hflancial record.5, and transactions of the City by independent certified public accountants. accompanyMg .financial statements have been audited by the firm 01 Intkiy, Montague, Karuowski, .R.adosevich & Independent ed ibuc Aceountants. Tfbe "Finn is engagedby the City Council to render an opinion on the s financial statements in accordance with ticeounting, prineinles generally accepted in the United States of America, and an urnriodi tied opinion has been issued, The independentauditor', report„is located it e &ant of the fi.nniteial see1ioi of this report. A.ecounitilig geticrally itcceptcd in the United. States of AM erica. require that management pro v Ode it narrative introduction, overview,and arta lyis to .accompany the basic financial statements in i.11»e Coin of Management's Discussion arid. Analysis (11‘41)&A). This letter of transmittal is designed to complement the: 'MD&A and should be read in corijiinet ion ),vith it Trhe NID&..A can he foand inimed te ly the report of the auditors, I'ROF11.1] OF CIITY R.,amsey is located in the soullt'western part cif AIIUk C'ounly arid is S Luated appr4...,ximately 25 in des .from 1V1inneaporlis. rho (..7.ity has 28.8 square utiles within its corporate boundaries .and is hordered by Iwo major rivers., the Mississippi River along the ,southern border irat the 'Rum R VCr along the. cast. Ramsey NVOnct:trporated asi city it». 1974,, and is organized as a Horne Ride t..Jty under a City Ch.artor originally adopted in 1984. The (otinell. consists °fa Mayor and six Counciltnenthers, and is elected at large on a notipartisan 'basis» IF.lectiOnS ,aro held in November of each even numbered year The terns of office are hour years for the Mayor and .rottr years for Councihnembers, "The City Council is .responsiblc for enacting: ordinances,. resolutions, and regulations gove.ining C..ay, and appointing the („..,Ity Administrator, City Attorney, and members oldie Nations ;Advisory boards and commissions., Because the City Council acts as the 1oard of 'Directors of tile .1,tainsey .Econoinic .1.)evelopment .Authority this organization is included as a blended component unit in these .financial statements. 1 5