4.1 ERMUSR 04-11-2023��i
Elk River
Municipal Utilities UTILITIES COMMISSION MEETING
TO:
FROM:
ERMU Commission
Melissa Karpinski — Finance Manager
MEETING DATE:
AGENDA ITEM NUMBER:
April 11, 2023
4.1
SUBJECT:
2022 Financial Audit
ACTION REQUESTED:
Receive and file the 2022 Annual
Financial Report
BACKGROUND:
Audit fieldwork was completed February 23 and 24 by our auditors, Abdo. Again, this year
Abdo completed and compiled the enclosed audit report and issued an opinion letter. Elk River
Municipal Utilities staff has reviewed for approval.
DISCUSSION:
Mr. Andrew Berg of Abdo will be at our meeting to present the 2022 audit and answer any
questions you may have. There were three audit adjustments resulting from General
Accounting Standards Board (GASB) reporting requirements related to Pensions and Leases.
These adjustments are provided by Abdo. These items are discussed in Note 2 and 3 of the
financials.
The attachments are watermarked as drafts pending Abdo's receipt of the employment
attorney letter.
FINANCIAL IMPACT:
None
ATTACHMENTS:
• Abdo Audit Presentation
• Abdo Management Communication
• ERMU Annual Financial Report for the Year Ended December 31, 2022
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