1996 CAFR - Laserfiche WebLink

Home

PRINCIPALS MALLOY MONTAGUE KENNETH W. MALLOY, CPA THOMAS M. MONTAGUE, CPA KARNOWSKI THOMAS A. KARNOWSKI, CPA RA~OSEVICH PAULA. RADOSEVICH, CPA NCO., R.A. WILLIAM J. LAUER, CPA ,; TNDF.PF.TTDFNT AUDITOR'S SINGLE AUDIT REPORT ON TH E INTERNAL CONTROL 1 STRUCTLT_R_E US ED IN ADMINISTERING FF.T)F.RAT. FINANCIAL ASSISTANCE PROGRAMS ' City Council and Residents City of Ramsey Ramsey, Minnesota We have audited the general purpose fmancial statements of the City of Ramsey, Minnesota, as of and for the year ended December 31, 1996, and have issued our report thereon dated March 25, 1997. We conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget (OMB) Circular A-128, A><~d;rs of State and Local Governments. Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. In Tannin and erformin our audit for the ear ended December 31 1996 we considered the internal P g P g Y > control structure of the City of Ramsey in order to determine our auditing procedures for the purpose of expressing our opinion on the City's general purpose financial statements and to report on the internal control structure in accordance with OMB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to federal financial assistance programs. We have addressed policies and procedures relevant to our audit of the general purpose fmancial statements in a separate report dated March 25, 1997. 1 The management of the City of Ramsey is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. (continued) 410 PARK NATIONAL BANK BUILDING 5353 WAYZATA BOULEVARD 118 - - MINNEAPOLIS, MINNESOTA 55416 TELEPHON E:612-545-0424 TELEPAX: 612-545-0569