9.a) Council PresentationCity of Scandia, Minnesota
Presentation of Audited Financial Statements
December 31, 2014
For management use only
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Auditor’s Report on Financial Statements (Financial Statements Pg. 2-3)
Audit is in accordance with Government Auditing Standards
Unmodified opinions
Audit Results
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Financial Highlights Governmental Funds – Capital Project
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Financial Highlights Governmental Funds – Special Revenue
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Financial Highlights Governmental Funds – Debt Service
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Financial Highlights Governmental Funds - General
Charges for Services line items includes approximately $144,000 of reimbursement from an escrow for costs incurred in prior years related to the Tiller Environmental Impact Statement
(a study to determine the effects of opening a local mine).
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Financial Highlights Governmental Funds – General (Continued)
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Financial Highlights Governmental Funds – General Fund Balance
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Financial Highlights Enterprise Funds - Operating
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Financial Highlights Enterprise Funds – Nonoperating
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Financial Highlights
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Financial Highlights
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Area City Comparison
Below are comparative numbers for 2013 as compiled from the Minnesota State Auditor's Office.
Such information is available at www.auditor.state.mn.us.
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Required Communications:
No new accounting policies were adopted
No significant/unusual transactions
No alternative treatments used
No significant estimates
Audit adjustments were posted
Immaterial
misstatement related to a receivable overstated at 12/31/13, that was adjusted through 2014.
Report to Members of Governance and Compliance
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Required Communications (continued):
No disagreements with management
No consultations with other accountants
No significant issues discussed with management
No significant difficulties
encountered during the audit
Report to the Members of Governance and Compliance
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Internal Control Findings:
Segregation of Duties
Financial Statement Preparation
Audit adjustments were posted
Compliance Findings:
None
Report to the Members of Governance and Compliance
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Jon Archer, CPA CGMA
Senior Manager
Ph. 320-251-0286
jarcher@swcocpas.com
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