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<br />Aooendix A-2 <br />AUDITORS REPORT <br /> <br />A~fj <br /> <br />M..mbers <br />AICPA <br />cscrA <br /> <br />C"'llifll'u Pubhc ArCOUlll..na <br /> <br />. <br /> <br />G.ryL And"'SUfl. (PA <br />Ruruld[). And"'N'n. PA. <br /> <br />Octobe~ 24, 1990 <br /> <br />We hoye dudlted the accompanying statements of 4Ss8sts, liabilitles and <br />equlty _ cosh ~818 - of the A~k4ns4s RiYe~ Compact Administration 48 of <br />June 3D, 1990, and the related statements ot revenue collected and <br />expenses pdld for the year then ended. These financial statements are <br />the resPOnslbillty of the Admlnlstratlon's ma~gement. Our <br />responsibility is to express an opinion on these financial statements <br />~s8d on our audit. <br /> <br />I <br />I <br />I <br /> <br />Our examination woe made 1n accordance with generally accepted auditing <br />stand4rds and accordingly, lncluded such tests of the accounting records <br />and Duch other audIting procedu.os 48 we conSIdered necessary 1n the <br />cir-cUlll8tances. <br /> <br />As described 1n Hote la, theee f1nancial stateroents wer-s prepared on the <br />basis of cash receipts and d1sbursements, which 18 a comprehensive baS1S <br />of accounting other than generally accepted accountIng princ1ples. <br /> <br />In our opin1on, the financ1al statements refer-red to abovs present <br />fairly, 1n all material respects, the assets and liabllit1es - cash <br />basls - of the Arkansas River Compact Administration as of June 30, 1990 <br />and 1ts revenue collected and expenses paid dur1ng the year then ended, <br />on the basis of accounting described 1n ~ote la. <br /> <br />~lh &. r~rm~nter <br /> <br />. <br /> <br />PO 60.1077 <br /> <br />. <br /> <br />L~m~r. Co\or~do 81052 <br /> <br />(71YIJJI..;;85 <br /> <br />42 <br /> <br />~RC~ .no <br />