Comprehensive Annual Financial Report

June 20, 2014

Honorable Mayor and Members of the City Council
City of Minnetonka, Minnesota

Mayor and City Council Members:

The Comprehensive Annual Financial Report of the City of Minnetonka, Minnesota (the City) for the fiscal year ended December 31, 2013 is hereby submitted. This report was prepared by the City’s Finance Department, and responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, supporting schedules, and statistical tables, rests with the City. We believe the data, as presented, are accurate in all material respects; that the data are presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the City’s financial affairs have been included.

A graph is one tool for showing projections in a financial report.The comprehensive annual financial report is presented in three sections: introductory, financial, and statistical. The introductory section includes this transmittal letter, the city’s organizational chart, and a list of principal officials. The financial section includes management’s discussion and analysis (MD&A), the basic financial statements, and required supplementary information. The combining statements are presented as a part of the required supplementary information. The statistical section includes selected financial and demographic information, generally presented on a multiyear basis.

This transmittal letter is designed to compliment the MD&A and should be read in conjunction with it. The MD&A can be found immediately following the report of the independent auditors.

The organization, form, and contents of this report were prepared in accordance with the standards prescribed by the Governmental Accounting Standards Board, the Government Finance Officers Association of the United States and Canada, the American Institute of Certified Public Accountants, the Minnesota State Auditor’s Office, and the Minnetonka City Charter.