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<br />Aooendix A-2 <br />AUDITORS REPORT <br /> <br />ARKANSAS RIVER COMPACT ADt1IHISTRATIOt'I <br />HOTES TO CASH BASIS STATEMENTS <br />June 30. 1990 <br /> <br />, <br /> <br />NOTE 1 - Summory of sIgnificant accounting policies: <br /> <br />4. The AdministratIon ~lnt41nB financial records <br />using the cash basis of accounting. By using <br />the cash basis of accountIng, certain revenues <br />are recognized ~hen received rother than when <br />earned, and certain expenses and purchases of <br />as Bets 4riB recognJ.z.ed ",hen cash is disbursed <br />rather than Mhen the obligatIon is incurred. <br /> <br />1- <br /> <br />> <br /> <br />46 <br /> <br />AIIC"UOO <br />