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MBLDC <br />McPherson <br />BreyfogIe <br />L i c h I y I e r & <br />D a v e I n , PC <br />Certified Public Accountants <br />740 Thatcher Building <br />Pueblo, CO 81003 <br />Phone (719) 543 -0516 <br />Fax(719)544 -2849 <br />INDEPENDENT AUDITORS' REPORT <br />Board of Directors <br />Southeastern Colorado Water Conservancy District <br />Pueblo, Colorado <br />We have audited, in accordance with generally accepted auditing standards, the general purpose financial <br />statements of Southeastern Colorado Water Conservancy District as of and for the year ended December 31, 2002 <br />(not presented herein). In our report dated February 7, 2003, we expressed an unqualified opinion on those general <br />purpose financial statements. <br />In our opinion, the information set forth in the accompanying condensed financial statements is fairly stated, in all <br />material respects, in relation to the general purpose financial statements from which it has been derived. <br />LO <br />fit <br />March 26, 2003 <br />• 17 <br />