South Platte Water Related Activities Proposal

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04/17/2008 17 :19 9704980676 DJDUNNCPA PAGE 01 Certified Public Accountant 309 E. Mountain Ave,, SiAte 200 Fort Collins, Colorado 80524 Tel: 970.498.0101 • F= 970498.0676 entail: djdunncpa(quaol.com March 12, 2008 Mr. Dennis J. Harmon South Platte Water Related Activities Program P.O. Box 1584 Fort Collins, CO 80522 -1584 Dear Mr. Harmon I am pleased to provide this proposal to act as your independent accountant. The purpose of this letter is to confirm the terms of the proposed agreement and to clarify the nature and extent of the auditing and accounting services to be provided. I would audit the general purpose financial statements including the statement of net assets, and statement of activities as of December 31, 2007 and for the year then ended and for the period from inception through December 31, 2006 together with supporting records and financial information for the purpose of expressing my opinion with respect to the fairness of presentation of such financial statements and their conformity with generally accepted accounting principles. I will 2180 examine the combining and individual fund statements together with supporting schedules, in conjunction with my examination of the general purpose financial statements, for the purpose of expressing my opinion with respect to this supplemental information's fair presentation in all material respects in (relation to the general purpose fina.ncial statements. My examination will be made in accordance with generally accepted auditing standards and, accordingly, will include such tests of accounting records and such other auditing procedures as I consider necessary in the circumstances. Additionally, my examination will be made in accordance with the provisions of the Colorado Local Government Audit Law. It is understood that although the purpose and objective of the examination is to lead to the expression of an unqualified opinion with respect to the financial statements, circumstances may exist or may arise which would preclude submitting such an opinion. Should deficiencies in internal accounting control or significant uncertainties or contingent liabilities be discovered which would have and effect upon my opinion, I will inform you a$ promptly as possible and attempt to arrive at a conclusion acceptable to both parties. if my opimiom will be other than unqualified, the reasons therefore will be disclosed.