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<br />Ii <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br /> <br />January 13.1981 <br /> <br />Board of Directors <br />North Poudre Irrigation Company <br />Wellington. Colorado <br /> <br />>- <br />, <br />.,. <br /> <br />We have examined the balance sheet of tho North Poudre Irrigation <br />Company as of December 31, 1980 and 1979 and the related statements of <br />oper'ations and changes in financial position for the years then ended. Our <br />examination was made in accordance with generally accepted auditing <br />standards, and accordingly included such tests of the accounting records and <br />such other auditing procedures as we considered necessary in the <br />circumstances. <br />In our opinion, the accompanying financial statements present fairly the <br />financial position of the North Poudre Irrigation Company as of December 31, <br />1980 and '979 and the results of its operations and changes in financial position <br />for the years then ended. in conformity with generally accepted accounting <br />principles applied on a consistent basis. <br /> <br />Respectfully submitted. <br /> <br />~, /V4h,j /' ~mu. <br /> <br />Brock. Watkins and Schommer <br />Certified Public Accountants <br /> <br />MEMBERS OF THE AMERICAN INSTITUTE <br />OF CERTIFIED PUBLIC ACCOUNTANTS <br /> <br />l' <br /> <br />- <br /> <br />, <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br /> <br />'.;; ~. <br /> <br />NORTH POUDRE IRRIGATION COMPANY <br />Wellington, Colorado <br />Balance Shoet <br />December 31. 1980 and 1979 <br /> <br />ASSETS <br /> <br />Current Assets <br /> <br />Wl.l! <br /> <br />lill <br /> <br />Cash on Hand and in the Bank <br />Assessments Recoivable <br />Note Receivable <br />Total Current Assets <br /> <br />22.622 <br />15,634 <br /> <br />33,094 <br />9,601 <br />6,214 <br />4B,909 <br /> <br />38.256 <br /> <br />Property Assets INote 1l <br /> <br />Land <br />Priorities, Water Rights and Easements <br />Ditches and Reservoirs <br />Buildings and Improvements <br />Radio and OHice Equipment <br />Machinery and Equipment <br />Transportation Equipment <br /> <br />155,172 107,665 <br />663,935 660.935 <br />4,369.971 4,369,971 <br />17,016 17,016 <br />25,760 83,774 <br />124,985 124,985 <br />44.65B 42.430 <br />5.401.517 5,406,776 <br />1,!i44.364 1,545.268 <br />3, B57. 153 3.B6 1. 509 <br /> <br />~ <br /> <br />Less: Accumulated Depreciation <br /> <br />Total Property Asset~ <br /> <br />Other Assets <br />Stock of Other Companies INate 11 <br />Note Receivable INote 21 <br /> <br />17,941 <br />10,000 <br /> <br />3.104 <br /> <br />Totnl Other Assets <br /> <br />27,941 <br /> <br />3,104 <br /> <br />TOTAL ASSETS <br /> <br />~ill..~ <br /> <br />J.lli.i121 <br /> <br />The accompanying notes are an integral part of these financial statements. <br /> <br />Exhibit A <br />15 <br />