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Barbara R. Clausen, CPA, CVA • Mary E. Naud, CPA <br />916 S Main St, Ste. 202 <br />�. eG Longmont CO 80501 <br />�CPA's and k0so161 <br />INDEPENDENT ACCOUNTANTS' REVIEW REPORT <br />To the Board of Directors <br />Left Hand Ditch Company <br />Niwot, Colorado <br />Office: 303 -678 -5392 <br />Fax: 303 -678 -5434 <br />We have reviewed the accompanying balance sheets of Left Hand Ditch Company (a Colorado non- <br />profit corporation) as of December 31, 2011 and 2010, and the related statements of activities and <br />cash flows the years then ended. A review includes primarily applying analytical procedures to <br />management's financial data and making inquiries of Organization management. A review is <br />substantially less in scope than an audit, the objective of which is the expression of an opinion <br />regarding the financial statements as a whole. Accordingly, we do not express such an opinion. <br />Management is responsible for the preparation and fair presentation of the financial statements in <br />accordance with accounting principles generally accepted in the United States of America and for <br />designing, implementing, and maintaining internal control relevant to the preparation and fair <br />presentation of the financial statements. <br />Our responsibility is to conduct the review in accordance with Statements on Standards for <br />Accounting and Review Services issued by the American Institute of Certified Public Accountants. <br />Those standards require us to perform procedures to obtain limited assurance that there are no <br />material modifications that should be made to the financial statements. We believe that the results of <br />our procedures provide a reasonable basis for our report. <br />Based on our review, we are not aware of any material modifications that should be made to the <br />accompanying financial statements in order for them to be in conformity with accounting principles <br />generally accepted in the United States of America. <br />February 4, 2012 <br />Page 1 <br />