HomeMy WebLinkAbout6.a. Persentation and Acceptance of 1998 Comprehensive Annual Financial Report (CAFR) CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: May 18, 1999
AGENDA ITEM: Presentation and Acceptance of 1998 AGENDA SECTION:
Comprehensive Annual Financial Report (CAFR) Department Heads Report
PREPARED BY: Jeff May, Finance Director AGEND���I.� �iry � �
ATTACHMENTS: Resolution & 1998 CAFR APPROVED BY:
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Jerry Reutzel of Boeckermann, Heinen & Mayer will be here on Tuesday evening, May 18th, to
review the City of Rosemount's 1998 CAFR. Jerry is the manager in charge of our audit. He will give
a brief presentation, highlighting items that may be worthy of your attention and also be available to
answer any questions that you may have. The motion you have before you formally accepts, by
resolution, the CAFR as presented. .
After you have reviewed your CAFR, if you have no further use for it, please return it to me so I can
use it as an extra copy for people or organizations that may request them. Thank you!!
RECOMMENDED ACTION:
Motion to adopt A RESOLUTION ACCEPTING THE 1998 COMPREHENSIVE ANNUAL
FINANCIAL REPORT.
COUNCIL ACTION:
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 1999 -
A RESOLUTION ACCEPTING THE 1998 COMPREHENSIVE ANNUAL
FINANCIAL REPORT
WHEREAS, the City of Rosemount has been presented its 1998 comprehensive annual
financial report, prepared by the audit firm of Boeckermann, Heinen & Mayer.
NOW, THEREFORE, BE !T RESOLVED, that the City Council of the City of
Rosemount, accepts its 1998 comprehensive annual financial report, prepared by the
audit firm of Boeckermann, Heinen & Mayer.
ADOPTED this 18th day of May, 1999.
Cathy Busho, Mayor
ATTEST:
Susan M. Walsh, City Clerk
Motion by: Seconded by:
Voted in favor:
Voted Against:
BOECKERMANN HEINEN & MAYER, P.A .
IncludingtheformerAPPLE & APPLE Certified Public Accountants
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL
REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
Rosemount,Minnesota
We have audited the general purpose financial statements of the City of Rosemount,Minnesota,as of and for the year ended December 31, 1998, and
have issued our report thereon dated March 5, 1999. We conducted our audit in accordance with generally accepted auditing standards and the
standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether the City of Rosemount,Minnesota's general purpose financial statements are free of material
misstatement,we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could
have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance that are required to be reported under GovernmentAuditing Standards.
Internal Control Over Financial Reporting
In planning and performing our audit,we considered the City of Rosemount, Minnesota's internal control over financial reporting in order to determine
our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the
internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the
internal control over financial reporting that might be material weaknesses. A material weakness is a condition in which the design or operation of one
or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be materiai in
relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we
consider to be material weaknesses.
Minnesota Legai Compliance
We conducted our audit in accordance with generally accepted auditing standards and the provisions of the Minnesota Lega/Compliance Audit Guide
for Local Government, promulgated by the Legal Compliance Task Force pursuant to Minnesota Statute Section 6.65. Accordingly,the audit included
such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.
The Minnesota Legal Compliance Audit Guide for Loca/Govemment contains five main categories of compliance to be tested: contracting and bidding,
deposits and investments,conflicts of interest,public indebtedness,and claims and disbursements. Our study included all of the listed categories. The
results of our tests indicate that for the items tested the City of Rosemount, Minnesota complied with the material terms and conditions of applicable
legal provisions. Further,for the items not tested, based on our audit and the procedures referred to above, nothing came to our attention to indicate
that the City of Rosemount,Minnesota had not complied with such legal provisions.
This report is intended for the information of management,the City Council, state agencies, and federal awarding agencies and pass-through entities.
However,this report is a matter of public record and its distribution is not limited. � � .
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BOECKERMANN,HEINEN&MAYER, P.A.
Certified Public Accountant
Minneapolis,Minnesota
March 5, 1999