9.b Scandia 2015 Audit Power PointCity of Scandia, Minnesota
Presentation of Audited Financial Statements
December 31, 2015
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Auditor’s Report on Financial Statements
Audit is in accordance with Government Auditing Standards
Unmodified “Clean” Opinion
Change in Accounting Principle
Adoption of GASB Statements
68 and 71
Audit Results
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Financial Highlights Governmental Funds – Capital Projects
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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
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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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New Accounting Standards – GASB 68 & 71
Records the City’s pro-rata share of any unfunded/fully funded liability/asset of PERA and the state run fire relief association.
Financial Highlights
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Area City Comparison
Below are comparative numbers for 2014 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:
GASB No. 68 and 71 were adopted
No significant/unusual transactions
No alternative treatments used
No significant estimates
Audit adjustments were posted
No
uncorrected misstatements
Report to the 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
Audit adjustments were posted
Compliance Findings:
None
Report to the Members of Governance and Compliance
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Jon Archer, CPA
Senior Manager
Ph. 320-251-0286
jarcher@swcocpas.com
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