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UPPER PLATTE AND BEAVER CANAL COMPANY NOTES TO THE FINANCIAL STATEMENTS Dego a!po2idtCiVafidacs As of January 31,2014 CERTIFIED PUBLIC ACCOUNTANT P.O.Box 1158-329 W.Railroad Fort Morgan,Colorado 80701 anwin(070)!67al02 Email:dehwaRnnq+ailpormcIOS n opt Independent Accountant's Compilation Report Table of Contents Board of Directors Upper Platte and Beaver Canal Company • Brush,Colorado 80723 Accountant's Compilation Report Page 2 I have compiled the accompanying balance sheet of The Upper Platte and Beaver g Canal Company(a nonprofit Colorado corporation)as of January 31,2014 and 2013,and Balance Sheet the related statements of income and changes in retained earnings and cash flows for the Page 3 years then ended.I have not audited or reviewed the accompanying financial statement and,accordingly,do not express an opinion or provide any assurance about whether the Income Statement and Changes in Retained Earnings Page 4 financial statements are in accordance with accounting principles generally accepted in the United States of America. Statement of Cash Flows Page 5 Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United Notes to the Financial Statements Page 6 States of America and for designing,implementing,and maintaining internal control relevant to the preparation and fair presentation of the financial statements. My responsibility is to conduct the compilation in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The objective of a compilation is to assist management in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements.During my compilation,I did become aware of a departure from accounting principles generally accepted in the United States of America that is described in the following paragraph. The Company has not maintained records of the acquisition costs of its property, plant and equipment.Management has established these costs to the best of their ability. See Note 1 of the Notes to the Financial Statements. Thi- -•ort is intended solely for the information and use of the Board of Directors of The Up.- :tte and Beaver Canal Company and should not be used for any other • purpose / I Fort orga Colorado February 4,2014